Will the market in December follow the previous pattern of a correction and then rise again, or will it be a thorough cleansing?
First, looking at the current market value of Bitcoin, there may still be some room for decline. Of course, this also means that altcoins may have a chance to catch up. Because the market value of Bitcoin declines, the market value of altcoins will rise accordingly.
Secondly, various important data and events in December have been gradually released, such as ADP, non-agricultural, CPI, interest rate decisions, etc. In addition, whether Microsoft will use Bitcoin as the company's reserve asset, as mentioned earlier, is also the key at the beginning of this month. If passed, it will undoubtedly increase the buying power of the market, but it will also increase market volatility. In any case, this round of bull market is advancing step by step according to levels and stages, from Bitcoin to Ethereum, to mainstream altcoins, and even to some old-fashioned sub-mainstream currencies, just like Ripple (XRP) mentioned before around 1.3.
Let’s take a look at the situation of altcoins
The altcoin bull market has officially started! Although Bitcoin is still fluctuating and adjusting, altcoins have ignored Bitcoin's fluctuations, and the altcoin season is on. This month, many coins will soar, and the focus is on those altcoins.
With XRP taking the lead and successfully surpassing SOL, the market capitalization ranking has risen to third place, and the valuation ceiling of the altcoin market has been completely broken. Many people do not understand why the ceiling is so important to altcoins. In fact, because the value of most altcoins is difficult to quantify, only by benchmarking the top projects in the track can their potential valuations be roughly estimated.
POL (POL) Could See More Growth After Recent Gains
The POL price has increased by 70.4% in the past 30 days. The price is currently between $0.576 and $0.615. Even with this growth, the price is still 52.3% below its all-time high of $1.29. The RSI, which measures price momentum, is 70.89. This shows that POL is close to overbought levels, which could mean that the price may soon slow down.
The trend-following MACD is at 0.059. This suggests that the currency could continue to rise. If POL overcomes the $0.717 resistance level, it could reach $0.835, which would represent a possible gain of 35.7%. On the other hand, if the price declines, it could drop to $0.383, which is a support level. POL has received attention for its role in the Polygon 2.0 update, making it a coin to watch.
Dogecoin (DOGE) Gains Momentum, Poised to Break $1
Dogecoin price has increased by 173.6% in the past 30 days. It is now valued between $0.417 and $0.439. DOGE’s RSI is 71.21, which suggests that the market may be slightly overbought. This could mean a brief interruption in your upward path. Nevertheless, the MACD of 0.047 confirms that DOGE is in a strong uptrend.
If DOGE overcomes the next resistance at $0.554, it could rise to $0.686, which would be a 56.3% increase from the current level. If the price drops, the coin’s support at $0.216 will provide stability. DOGE has attracted a lot of attention after being endorsed by a public figure. Many expect its price to exceed $1 in the coming months.
Cardano (ADA) continues to rise after impressive move
Cardano (ADA) has been climbing sharply, gaining 215.1% in the past 30 days. Now, its price is ranging between $1.048 and $1.14. The RSI is 79.69, which shows that ADA is currently heavily bought. The MACD 0.160 indicates strong bullish momentum.
The next key resistance level is $1,379. If ADA surpasses this level, it could reach $1,679, which would be a 47.2% increase from the current price. However, if selling pressure increases, support at $0.549 could help keep the price stable. The news about Cardano remains positive – it was recently rated as one of the coins with 100,000 USDT potential. Moreover, since ADA is technologically advanced, more and more people are beginning to adopt it. The long-term outlook is promising.
