As November comes to a close and December begins, investors will likely shift their focus to portfolio rebalancing or exploring new opportunities in altcoins. The Decentralized Physical Infrastructure Network (DePIN) narrative is gaining attention, making it a key sector to watch. Here are some of the top DePIN altcoins to keep an eye on.
In this analysis, BeInCrypto discusses five top DePIN altcoins to watch in the coming month, highlighting why these cryptos could attract a lot of attention in the market.
Filecoin (FIL)
Filecoin, which has a market cap of $3.44 billion, tops DePIN’s list of altcoins to watch in December. For a coin that lost a chunk of its value during Q2 and Q3, Filecoin has shown strength in the past 30 days.
During this mentioned period, the price increased by 56.22%. However, it is still well below its all-time high, suggesting that there is still room for growth.
From a technical perspective, the Awesome Oscillator (AO), which measures momentum, continued to remain in the positive region. Typically, when the AO is negative, momentum is bearish.
Filecoin Daily Analysis. Source: TradingView
But when it’s positive, it’s bullish, which is the case for FIL. If this continues, the altcoin’s price could rise to $6.50 in the first few days of December. However, if the momentum turns bearish, this may not happen, and Filecoin could fall to $4.96.
Arweave (AR)
Coming in second on the list of the best DePIN altcoins to watch in December is Arweave, a project focused on a decentralized storage network. Over the past seven days, AR’s price has increased by 20.98%, making it one of the best-performing altcoins in the top 100.
At press time, the coin is priced at $21.13. The daily chart shows that the altcoin reached this price due to the formation of an inverted head and shoulders pattern.
This pattern is a bearish-to-bullish reversal that was validated after AR bottomed at $133. However, the token is currently facing resistance at $22.05, but this could help AR overcome this hurdle.
Arweave Daily Analysis. Source: TradingView
If this happens, the Arweave price could rise to $24.57 in the near term. If buying pressure increases, this could go even higher. However, if the bears gain the upper hand, the price could decline to $18.96.
Grass (GRASS)
In October, BeInCrypto named GRASS as one of the top DePIN altcoins to watch in November. The recently launched project did not disappoint, rising 300% in the last 30 days.
Currently, GRASS is priced at $3.48 and has been making lower highs (LH) on the 4-hour chart. Due to this price movement, the altcoin’s value could likely reach a new all-time high in December, surpassing $3.90 in the process.
If this happens, then it may not be surprising to see GRASS at $5. On the other hand, if the altcoin loses this bullish momentum, this prediction may not come true. Instead, it could decline to $2.81.
Grass 4-Hour Analysis. Source: TradingView
io.net (IO)
Another DePIN altcoin to watch in December is io.net, which boasts of being the world’s largest decentralized AI computing network. Over the past 30 days, the price of IO has increased by 65.13% while trading at $2.93.
On the daily chart, the IO price has risen above the 20-day Exponential Moving Average (EMA). This position means that the trend around the altcoin is bullish, and the price may continue to rise.
If the token continues to hold this position, its value could rise above $4 by December. On the other hand, if interest in IO declines, the prediction could be invalidated, and the token could fall below $2.
io.net Daily Analysis. Source: TradingView
Token NetMind (NMT)
Top DePIN altcoins to watch would be incomplete without mentioning NetMind Token. NMT is priced at around $3.76, while its trading volume has increased by 350% in the last 24 hours.
This increase in volume indicates growing interest in the token. NMT has increased in value by 76.10% since yesterday. Between September 25 and November 5, the price of NetMind Token fell from $3.89 to $1.29.
But since then, bulls have driven the value higher. In December, the altcoin price will likely rise. If this is the case, the cryptocurrency could surpass $5.
NetMind Token Daily Analysis. Source: TradingView
But if profit-taking increases, this may not happen. Instead, the price of NMT may fall to $2n72.
The article 5 DePIN altcoins to watch in December, according to analysts appeared first on BeInCrypto Brasil.
