3 Altcoins to Watch in the Second Week of December 2024

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As a seasoned crypto investor with years of market ups and downs under my belt, I find myself intrigued by the potential of these three altcoins: Render (RNDR), EigenLayer (EIGEN), and Floki (FLOKI). Each one presents unique opportunities for profit, given their upcoming events.

The slowing pace in the crypto market is causing worry, as the future rise of alternative coins now heavily depends on forthcoming advancements within their networks and increased demand.

Keep an eye on these three cryptocurrencies that BeInCrypto has highlighted. They are primed for noteworthy occurrences in the coming days, which might influence their price fluctuations.

Render (RNDR)

At present, the price of Render is finding difficulty holding around the significant support of $9.88. If it manages to surpass this level in its closing, it will likely preserve its momentum and aim for the next resistance at $11.32. However, if it fails to maintain the support, there could be a possibility of a minor reversal.

In brief, The Render Network has recently finished the preliminary round of voting on three crucial proposals – RNP-016, RNP-017, and RNP-018. The final vote for these proposals will take place this coming Wednesday, generating notable interest among investors. This voting phase may sustain optimism about RNDR, potentially increasing its value in the near future.

If the overall market trends towards a downturn, there’s a possibility that Render Network’s price might dip to around $8.59. Should it fall below this point, it would challenge the current optimistic perspective, potentially triggering additional declines, particularly if the market mood becomes increasingly negative.

EigenLayer (EIGEN)

Another one of the key altcoins to watch this week is EigenLayer’s native token. EIGEN price recently reached a new all-time high of $5.07, marking its first significant peak in over two months. Currently trading at $4.62, the altcoin is showing strong upward momentum. 

The forthcoming EigenLayer Rewards V2 update is anticipated to deliver substantial enhancements. Primarily aimed at boosting adaptability, productivity, and personalization within the system, this protocol modification is creating excitement among investors. Being the first EigenLayer Governance process-based Improvement Proposal (ELIP), it signifies a crucial turning point for the network.

With all the excitement building up for the Rewards V2 update, there’s a strong possibility that EIGEN’s price could see a significant spike. But if this altcoin doesn’t manage to exceed its all-time high of $5.07, it might instead hover within a range, with the lower end being around $4.45 and the upper limit being its previous peak. This situation could mean a brief halt before potentially resuming an upward trend or even experiencing another dip.

Floki (FLOKI)

The cost of FLOKI is presently attempting to keep its value above the $0.0002568 mark, a crucial support level. If it can hold this price, it might push the meme coin up to around $0.0002776. Further bullish energy could then build upon this momentum.

Investor sentiment surrounding FLOKI remains strong, especially with the upcoming Wise Monkey (MONKY) airdrop. Facilitated by OKX, the distribution ratio is 0.35 MONKY for each 1 FLOKI held. This potential catalyst has generated significant interest, with many investors holding FLOKI in anticipation of the airdrop, which may drive the price upwards.

If FLOKI’s support at $0.0002568 breaks, there could be a potential drop in its price, moving it towards $0.0002108. This development might undo the recent positive trends, potentially leading to a period of stagnation or further decline as the bullish perspective on the token weakens.

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2024-12-09 15:33