Coinspeaker Best Altcoins to Buy This Dip: Top Crypto Investment Strategies for December 2024
The altcoins are freefalling as the US and global market turmoil keeps a bearish shade over crypto. With Bitcoin losing the $100K mark and $2 trillion valuation, the high momentum correction puts bears in the driving seat.
While this may seem concerning to some, viewing it as an opportunity for strategic investors is important. Amid volatile and uncertain conditions, altcoins at discounted levels present lucrative entry opportunities for those looking to capitalize on long-term growth.
In this article, we’ll explore the best altcoins to buy during this dip as the best investment strategy for December 2024 and a bullish 2025.
Dogecoin (DOGE)
Being the oldest meme coin in the crypto space with the largest market cap, Dogecoin DOGE $0.30 24h volatility: 17.9% Market cap: $43.75 B Vol. 24h: $15.38 B is in the top 10 crypto list. With a market cap of $42.60 billion, it is currently trading at $0.28 at the time of writing this article.
Despite a 20% drop in the past 24 hours, a recovery of 8.69% in the last hour reflects the support demand for Dogecoin at lower price levels. In the past five days, it has made consecutive bearish candles, accounting for a drop of nearly 30%.
After losing the $0.30 psychological mark, the lower price rejection avoids a bearish closing below the 100-day EMA line at $0.2794. Hence, in case the broader market recovers, Dogecoin is likely to take a V-shaped reversal to reach the $0.40 mark.
Amid the limited chances of Dogecoin creating a new annual high, the recovery run is likely to reclaim the $0.50 mark in early 2025. Hence, with a bullish setup for 2025, Dogecoin is a must-add crypto to your portfolio.
Solana (SOL)
The Solana price SOL $188.8 24h volatility: 9.8% Market cap: $90.37 B Vol. 24h: $15.02 B has dropped to $175 for the first time since October 11. This marks a critical event as it is available at dynamic support after a couple of months.
Furthermore, the falling channel pattern warns of a bearish situation, with a triple black crow setup accounting for an 18% drop in three days. At the time of writing this article, Solana was priced at $184 with a significantly lower price rejection from the 200-day EMA line.
This lower price rejection highlights a potential bounce back from a critical support level. Furthermore, the RSI line testing the oversold boundary zone reflects a massive surge in supply pressure. However, it also signifies room for recovery if the market bounces back.
Solana has been a rising name in the DeFi space, increasing the chances of an upside continuation. With its decentralized exchange volume surpassing Ethereum and Binance Smart Chain multiple times, it will likely witness a demand surge as the market stabilizes.
Hence, if the Solana price is able to reclaim the $200 psychological mark, the uptrend is likely to reach the overhead resistance trendline near $227.
Mantra (OM)
Despite the crash of 10.50% on Friday, the sideways trend in the Mantra token OM $3.73 24h volatility: 8.2% Market cap: $3.54 B Vol. 24h: $275.31 M remains intact. With the bullish dominance at $3.421, OM price absorbs the massive influx of supply.
However, the lack of bullish divergence in the daily RSI line warns of a bearish warning. Nevertheless, the sideways trend maintains the bullish flag pattern in the daily chart.
Further, the critical resistance is the 23.60% Fibonacci level at $4.1301. As the recent correction completes a negative cycle, a bullish reversal to the overhead resistance is highly anticipated.
In case of a bullish breakout, the trend-based Fibonacci levels paint potential prices to $5.27 or the 61.80% Fibonacci levels. Hence, with an upside potential of nearly 45%, Mantra is one of the key altcoins to buy for a bullish December 2024 and set a healthy portfolio for 2025.
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Best Altcoins to Buy This Dip: Top Crypto Investment Strategies for December 2024
