The altcoin market heat is rising, and investors are closely monitoring.
As the end of the year approaches, the cryptocurrency market is stirring up excitement again, especially in the altcoin sector. According to reports, investors are closely monitoring some altcoins with real-world asset (RWA) backing, expecting them to lead a strong market comeback in the final month. Data shows that Avalanche ($AVAX), Chainlink ($LINK), $IOTA, and Ripple ($XRP) have performed well recently, each experiencing significant price increases.
Avalanche (AVAX) momentum strengthens, price continues to rise.
Avalanche ($AVAX) has seen a price increase of about 20% in the past week, currently priced around $45.08, with a growth of 2.4% in the last 24 hours. Technical analysis indicates that the support level for $AVAX is at $42.75; if this level holds, the price is expected to continue rising, with the next resistance at $46.00, followed by $48.50.
Meanwhile, the 24-hour trading volume for $AVAX has reached $800 million (approximately NT$25.9 billion), growing by 27.14%, showing strong market interest in this coin. Experts believe that if trading volume continues to grow, $AVAX is likely to set a new high in December.
Source: CoinGecko Avalanche ($AVAX) price trend chart.
Chainlink ($LINK) and $IOTA show strong momentum.
Chainlink ($LINK) has also performed excellently recently, with a 24% increase in the past week, currently trading at around $18.83. The key support level for $LINK is at $18.00; if it can break the resistance at $18.75, the price is expected to continue rising to $19.50 or even higher. It has grown 4.2% in the last 24 hours, with a trading volume reaching $1.076 billion (approximately NT$34.9 billion), reflecting bullish sentiment in the market.
Source: CoinGecko Chainlink ($LINK) price trend chart.
IOTA is also not to be outdone; although it has seen a slight retreat in recent days, it has still risen by 24.5% in the past week, reaching a price of $0.2688. Its market capitalization has grown by 19.03%, reaching $950 million (approximately NT$30.8 billion). IOTA's 24-hour trading volume surged by 137.66%, indicating increasing investor interest in this coin. If it can break the resistance at $0.28, IOTA is expected to welcome a new wave of upward momentum.
Source: CoinGecko $IOTA price trend chart.
Ripple ($XRP) and other coins are poised to lead new market trends.
In addition to the aforementioned coins, Ripple ($XRP), Dogecoin ($DOGE), Polkadot ($DOT), and Fantom ($FTM) are also seen as the most promising altcoins by the end of the year.
Source: CoinGecko $XRP, $DOGE, $DOT, and $FTM are also seen as the most promising altcoins by the end of the year.
Ripple ($XRP) remains active in the market despite facing legal challenges, with its focus on cross-border payment systems' blockchain technology drawing significant attention. Investors and tech enthusiasts continue to monitor Ripple's strategic actions and regulatory decisions.
Dogecoin ($DOGE) has evolved from an initial meme coin to one of the most popular cryptocurrencies. With a strong fan base, it has recently attracted the interest of many wealthy individuals. Its market performance still relies on social media trends and the volatility of the cryptocurrency market.
Polkadot ($DOT) is dedicated to solving interoperability issues between blockchains, with its infrastructure allowing interactions between various specialized blockchains, potentially becoming key to addressing the fragmentation issues of existing blockchain projects.
Fantom ($FTM) has risen with high-performance trading capabilities, providing an alternative solution to traditional blockchain technology with its Directed Acyclic Graph (DAG) consensus mechanism. The platform continues to develop innovative solutions for decentralized finance and blockchain scalability.
Further Reading
XRP's market capitalization exceeds $100 billion, becoming the fifth largest, with multiple favorable conditions, looking bullish towards 'this level'.
Dogecoin's market capitalization surpasses Porsche! But two indicators show weakening momentum, could it plummet in the short term?
Conclusion: Altcoins are making a strong comeback, investors need to be cautious.
Comprehensive analysis indicates that with the arrival of December, these altcoins are expected to lead a new round of market recovery. However, the cryptocurrency market is highly volatile, and investors must be aware of market risks while pursuing high returns, conducting thorough research and risk assessments. Experts suggest that investments should be rational and avoid blindly following trends to remain undefeated in a fluctuating market.
[Disclaimer] The market is risky, and investing requires caution. This article does not constitute investment advice, and users should consider whether any opinions, views, or conclusions in this article are suitable for their specific circumstances. Investing based on this is at your own risk.
'The last month of the year is counting down! Foreign media: 'These 7 coins' will lead a strong comeback for altcoins!' This article was first published in 'Crypto City'.
