3 Altcoins to Watch in the First Week of December 2024
With the last month of 2024 underway, the crypto market is expected to note some significant volatility. Bitcoin is expected to reach the $100,000 historic mark before the end of the year, and this could trigger rallies in all major and minor altcoins.
However, before that happens, some altcoins are still looking at potential gains, and BeInCrypto has analyzed three such altcoins to watch in the coming days.
Stellar (XLM)Stellar (XLM) may not be the top-performing token, but it is among the altcoins to watch, thanks to bullish market trends. Its recent price movement reflects investor confidence as it rides the broader market’s positive cues.
Stellar’s stable performance highlights its growing presence in the crypto space.
This week, Stellar validators will vote on the mainnet upgrade of Protocol 22 following successful testing on the testnet. Such upgrades typically bring volatility, but this one could spark positive momentum.
Successful implementation of this upgrade would reinforce market confidence and potentially trigger upward price movement for XLM.
Currently holding above the key support level of $0.41, XLM appears well-positioned to continue its upward trend. This level has acted as a strong floor, preventing significant price declines.
However, a drop below $0.41 would invalidate the bullish outlook, possibly sending the altcoin down to $0.25.
Yield Guild Game (YGG)YGG’s price remains under the resistance of $0.70, and it is struggling to break through this key barrier. For the altcoin to advance to $0.80, it needs a strong push.
This level has been pivotal, preventing further gains. A break above $0.70 could open the door for a rally toward higher targets.
The potential catalyst for YGG’s upward movement could be The Purging Event, which is approaching its conclusion. If this event triggers consistent positive market reactions, it could provide the necessary momentum for the price to break through resistance. Such events often lead to bullish sentiment, influencing price direction.
If YGG successfully flips the $0.70 resistance into support, it could pave the way for continued price growth. However, any drop below the support level of $0.57 would likely invalidate the bullish thesis.
Banana Gun (BANANA)BANANA price has dropped 9% in the last 24 hours, bringing the altcoin down to $60. This decline reflects market sentiment, but the price remains above crucial support levels.
The Telegram bot coin is preparing for its monthly token unlock of 250,000 BANANA, which will increase the circulating supply by $15 million. This surge in supply could create volatility, but with strong market cues, it may also provide a boost to the price. The outcome depends largely on market sentiment.
If the market turns bearish, BANANA may drop to the next support level at $55. A loss of this support could signal further declines and potentially invalidate the current bullish outlook.
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Altcoin season in December 2024? Watch out for Bitcoin’s dominance!

Bitcoin’s price volatility dropped sharply, allowing altcoins to shine
Altcoin season index revealed that the market will soon turn in the alts’ favour
Bitcoin [BTC] investors have been waiting for a long time to see the king coin hit $100k, but it’s taking too much time. Could this wait be any longer? Well, a few recent updates could push BTC into the backseat and allow altcoins to shine in December 2024.
Does this mean a fresh altcoin season is arriving soon?
Bitcoin’s dominance is dropping
Over the last few days, Bitcoin has been consolidating near the $96k range. This has contributed to a massive decline in the king coin’s volatility. This drop in volatility has led to yet another major development.
Captain Faibik, a popular crypto analyst, recently shared a tweet revealing this incident. According to the same, Bitcoin’s dominance has been moving inside a rising wedge pattern since the beginning of 2022.
Recently, the graph broke out of this pattern but in a southern direction, hinting at a hike for altcoins. In fact, Captain Faibik even spoke about a 2024-2025 altcoin season in the tweet.
Is an altcoin season actually here?
The fall in BTC’s dominance is actually helping altcoins raise their own market share. As reported previously by AMBCrypto, many are speculating there may be a fresh altcoin season ahead.
While the odds are in favor of that happening in 2025, the recent trend of events suggests that it might happen sooner than expected.
In fact, it might have already started. For example, Ethereum [ETH], the king of altcoins, remained bullish in the last 24 hours as bulls pushed its price up by more than 3%. Other alts with large market capitalizations have also seen promising performances.
Topping the list was XRP, with gains of over 12% in the last 24 hours alone.
Additionally, AMBCrypto’s analysis revealed that the altcoin season index registered a sharp uptick and reached 67, at press time. For reference, a value closer to 75 hints at an altcoin season.
Since Ethereum is the market’s top altcoin, AMBCrypto planned to examine it to find out whether its on-chain data hinted at a sustained bull rally. An assessment of the same could help pinpoint the upcoming altcoin season.
Well, despite its latest price uptick, ETH’s NVT ratio has remained low. A decline in this metric means that an asset is undervalued, hinting at a sustained price hike.
According to the altcoin’s daily chart, it was testing its resistance at press time. However, the problem was that its Relative Strength Index (RSI) was about to enter the overbought zone. This might trigger a selling spree and restrict the token from moving further up the charts.
Therefore, while most metrics and market conditions hinted at an altcoin season, it still remains a question whether it’ll happen in the short-term or not.
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