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,
