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Historically, December has always been a boom time for the cryptocurrency market, and December 2024 could continue this trend, especially for altcoins. TinTucBitcoin has identified the key altcoins to watch as the year comes to a close.
This list focuses on cryptocurrencies with major events in December that could affect their prices. While some altcoins lack these momentum, these standout picks are the ones to watch out for this month.
Hyperliquid (HYPE)
Topping the list of altcoins to watch for December 2024 is Hyperliquid (HYPE), a Layer-1 blockchain token that just launched about a week ago. Since launch, HYPE’s price has increased by over 200% despite rewards being released via Airdrop to some of its early users.
At present, HYPE’s price has increased to 9.51 USD despite not being listed on any Centralized Exchange (CEX). Typically, when altcoins like this launch without a CEX, demand is higher, so the price can increase.
So, with millions of units traded daily, HYPE’s price is expected to increase in December, making it one of the top 5 altcoins to watch before the year ends.
Sui (SUI)
Market observers may not be surprised to see SUI placed on the list of altcoins to watch in December 2024. Over the past months, the token has consistently been among the top performing cryptocurrencies. best, up 75% in the last 30 days.
The excitement around SUI mainly comes from today’s plan to unlock $210 million worth of tokens. While such events typically cause volatility and increased supply, SUI has seen an upward price trend in the weeks following unlocking.
Therefore, if history is a guide, SUI could deliver another strong performance this month. From a technical perspective, SUI’s price is trading above both the 20-day and 50-day Exponential Moving Averages (EMA).
Usually, when the price is above this level, it means the trend is up. If we assume the price is below this level, it will indicate a bearish trend.
With SUI trading at $3.40, it is possible that it could climb above $4.40 during December 2024. However, if the Token experiences high selling pressure, this may not happen. In that case, the price could drop to $2.38.
Fantom (FTM)
Without Fantom’s presence, the list of altcoins to watch in December 2024 would be incomplete. This is because the highly anticipated Sonic upgrade, which will increase throughput, launches on Mainnet this month.
In light of this development, FTM’s price has touched $1, thanks to a 60% increase in the past 30 days. On the daily chart, the altcoin has formed an inverse head and shoulders pattern, which is a bearish to bullish reversal.
Currently, FTM trades at $1.03. However, with the rise of Bull Bear Power (BBP), which indicates that the bulls are in control, the price could touch $1.14 in the short term.
Furthermore, the launch of Sonic Mainnet in December 2024 could take the cryptocurrency to around 2 USD, but could be neutralized if selling pressure increases.
Aptos (APT)
Aptos is another notable Layer-1 Token to watch in December. Similar to SUI, Aptos plans to unlock approximately $135 million worth of Tokens this month.
Interestingly, Aptos and SUI have a common pattern: both typically experience price increases after token unlocking. If history is any indication, APT could end December with positive returns.
From a technical perspective, APT has formed an ascending triangle, which is bullish. This technical pattern suggests that the value of altcoins could continue to rise as long as volume continues to grow and demand explodes.
If that happens, APT could rise to $20 next month. However, traders should be wary. If the supply and demand shock is too strong, this may not happen, and APT could fall to $10.97.
Bonk (BONK)
Last on the list of altcoins to watch in December 2024 is Bonk, the most valuable Meme Coin on the Solana blockchain. BONK is on this list thanks to its Token burning plan, with the goal of reducing supply and increasing value.
Previously, TinTucBitcoin reported that BONK wants to burn 1 trillion Tokens before Christmas. If this goal is achieved, the price of altcoins could increase sharply.
While BONK’s price recently pulled back from local highs, the daily chart shows strong support at $0.0000043. With this forecast, the price could bounce from this point and potentially rise to $0.000059 or higher.
Conversely, if BONK investors take profits in December, this forecast could be invalidated and the value of Meme Coin could be 0.000035 USD.
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