3 Altcoins to Watch in the Third Week of December 2024

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As a seasoned researcher with years of experience navigating the volatile world of cryptocurrencies, I find myself constantly intrigued by the ever-changing tides of the market. This past week has been no exception, as I’ve witnessed the impressive surge of Chainlink (LINK) and the consecutive drops in dogwifhat (WIF) and Mog Coin (MOG).

Over the last seven days, there’s been considerable activity in the altcoin market. Specifically, Chainlink (LINK) experienced a near 20% increase, peaking at a price not seen since November 2021. This rise is attributed to robust demand and intense buying activity.

Contrarily, Dogewhathit (WIF) has experienced a decrease of 20%, dipping below the $3 billion market capitalization mark and approaching its lowest points since mid-November. This downward trend is primarily due to a strong negative outlook. In a similar vein, Mog Coin (MOG) has fallen by 19%, sliding to the 8th position among the top meme coins, and potentially facing being usurped by newer coins such as PEANUT and POPCAT.

Chainlink (LINK)

The price of Chainlink has climbed by almost 20% in just a week, hitting $30.94, which is its highest point since last November. This surge suggests robust buying activity and growing investor enthusiasm, implying that LINK could potentially increase even more if the current trend persists for the cryptocurrency.

The EMA lines demonstrate that LINK’s upward trend is robust, and its Relative Strength Index (RSI) stands at 57, suggesting a strong but not excessively high momentum. This implies that there might be potential for additional growth in LINK, reinforcing the optimistic perspective at present.

Should LINK surpass the $31 barrier, it may challenge the $35 mark subsequently. Conversely, if the trend shifts, potential support could be found at $27.4 and $22.4, offering protection against more significant drops.

dogwifhat (WIF)

Over the last seven days, the value of WIF has decreased by approximately 20%, dropping it below the $3 billion market capitalization mark and placing it at roughly $2.65 billion. This downward trend suggests a high level of bearish sentiment, pushing WIF to its lowest point since mid-November.

Even though WIF is currently the fourth most popular meme coin, it may soon lose its position to BONK if the market cap difference between them remains around $400 million. If WIF continues to perform poorly, a change in ranking could happen quite soon.

The Exponential Moving Averages (EMA) of WIF show a bearish trend, as the short-term averages are below the long-term ones and the price is trading beneath all major resistance levels. If this downtrend continues, WIF may encounter support at $2.5, with potential further drops that could reach approximately $2.19.

Mog Coin (MOG)

Over the last week, MOG has plummeted by 19%, causing it to slide down to the 8th spot in the ranking of the biggest meme coins. If the current trend persists, it might be surpassed by other alternative coins such as PEANUT and POPCAT.

In simpler terms, the short-term moving average lines for MOG are dropping and might fall beneath the long-term ones shortly, leading to what’s known as a “death cross.” This is typically a very bearish sign. It implies that the ongoing correction for this altcoin could potentially become more pronounced.

As an analyst, I’m anticipating that if a death cross occurs on the MOG chart, it might encounter support levels around $0.00000267 and potentially dip lower to $0.0000020. Conversely, a trend reversal could propel it toward resistance at $0.0000033.

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2024-12-16 19:48