2024 is coming to an end, and we have entered the last month! According to CoinGlass data, since 2013, Bitcoin's average performance in December has been an increase of 4.95%, with 5 closing up and 6 closing down.
Source: CoinGlass Bitcoin price performance in December
Since Trump was elected as the new US President, $SOL, $XRP, $DOGE and $ADA have become the focus of the market. What can we pay attention to in the last month of 2024?
Currently, I think there are 5 potential altcoins to watch, which I predict may bring exciting market performance in December: $HYPE, $SUI, $FTM, $APT and $BONK.
The reason why these altcoins have attracted so much attention is mainly because they are about to usher in major events, technological upgrades or important market catalysts that may have a huge impact on their coin prices. The following is an analysis of short-term support and resistance levels, which is for reference only and is not a basis for investment.
$HYPE Price Trend Analysis
Hyperliquid is a blockchain that has only been launched for about a week, and its token $HYPE has become the focus of the market in a very short time. Since its listing, $HYPE has accumulated a growth of more than 200% and has not yet been listed on a large centralized exchange (CEX).
Currently, $HYPE’s daily trading volume is considerable, reaching $250 million, which shows that investors are full of expectations for this emerging project.
Considering its fast-growing momentum, it is predicted that $HYPE may continue to rise in December and may even break through the $10 mark, bringing rich rewards to early investors.
Image source: ($HYPE) price trend analysis
Sui ($SUI) Price Trend Analysis
$SUI has performed impressively over the past month, with the price of the coin rising 75% cumulatively, showing strong market momentum.
In December this year, $SUI will usher in a token unlock of up to $210 million. Although unlocking usually increases market supply and may cause price fluctuations, Sui has shown some resilience in past unlocking events.
From a technical perspective, Sui is currently priced at $3.7 and has moved above its 20-day and 50-day exponential moving averages (EMA), which is generally considered a bullish signal.
Under favorable market conditions, Sui is expected to climb to $4.40 in December. However, if there is huge selling pressure or market events, it may also pull back, and the support level worth paying attention to is $2.38.
Image source: BeInCryptoSui ($SUI) price trend analysis
Fantom ($FTM) Price Trend Analysis
$FTM may attract much attention in December, mainly because the major Sonic Upgrade will be launched on the mainnet, which is expected to increase the transaction speed and efficiency of the network and bring major breakthroughs to the Fantom ecosystem. At that time, the original $FTM will also be exchanged for $S tokens at a 1:1 ratio.
Driven by this good news, $FTM has risen 60% in the past month, successfully breaking through the $1 mark and is currently priced at $1.26.
From a technical perspective, $FTM has formed a bullish head and shoulders bottom pattern, which is a typical technical pattern that turns from a bearish trend to a bullish trend.
In addition, combined with the performance of the Buyer and Seller Power Index (BBP), $SUI bulls are still in a dominant position.
Here we predict that $FTM may reach $1.14 in the short term, and with the official launch of the Sonic mainnet, it is even expected to reach the integer point of $2. However, investors still need to pay close attention to potential selling pressure.
Fantom ($FTM) Price Trend Analysis
Aptos ($APT) Price Trend Analysis
$APT has performed well over the past month and, like Sui, will see approximately $135 million in token unlocks in December, both of which have generated positive returns after unlocking.
From a technical perspective, $APT has formed a classic bullish ascending triangle pattern. As long as market demand and trading volume continue to rise, it may continue to rise and is expected to reach the target price of $20 in December.
However, if there is a huge supply shock or market event, $APT could quickly pull back to $10.97.
Aptos ($APT) Price Trend Analysis
Bonk ($BONK) price trend analysis
As one of the most representative meme coins in the Solana ecosystem, $BONK may have a special narrative in December.
The official plan is to destroy 1 trillion tokens before Christmas to reduce the circulating supply, which will theoretically increase the scarcity and potential value of the tokens.
Judging from the daily trend, $BONK has found support near $0.0000043. If it can continue to hold this level, it is expected to rebound and may even reach $0.000059.
However, the high volatility and risk of memecoin are well known. If a large number of holders choose to take profits in December, this prediction may immediately become a bubble, and the price of the coin may fall back to $0.000035. The cryptocurrency market is extremely volatile, and investment decisions must be made with caution. While pursuing high returns, it is also very important to do a good job of risk management and market research.
