3 Cryptocurrencies That Reached All-Time Highs Today — December 12

by

As a seasoned crypto researcher with years of market analysis under my belt, I must say that the recent surge in prices across various altcoins is nothing short of exhilarating. It’s like watching a rocket launch, but instead of space, we’re talking about digital assets!

After Bitcoin regained its position at around $100,000, there was a sense that the cryptocurrency market would carry on rising. Consequently, numerous alternative coins mimicked Bitcoin’s trajectory, with several of them hitting fresh record highs.

Over the past day, BeInCrypto has looked at three specific cryptocurrencies that have reached brand new peak prices.

Sui (SUI)

SUI price has surged by 29% over the last 24 hours, reaching $4.80. The altcoin recently hit a new all-time high (ATH) of $4.91 during today’s intra-day session. This sharp rise indicates strong investor interest and market momentum, with SUI performing well in the current bullish environment.

The digital currency SUI has found strong footing at around $4.37, a position that could safeguard its worth during potential market corrections. If it manages to maintain its position above this level, it could take a break, reorganize, and possibly set new record highs.

If the value of SUI falls below its current support at $4.37, it might indicate a potential decrease to around $3.94. A fall below this level could suggest a more significant correction, leading to further decreases that would bring SUI closer to approximately $3.20. This kind of development would contradict the present optimistic forecast for this cryptocurrency.

MANTRA (OM)

For over three weeks now, the value of OM has been moving within a narrow range after experiencing an impressive 64% increase in just one day. The price fluctuations of this altcoin have shown no definite pattern, as traders seem hesitant due to the overall market instability. It is anticipated that a break from this period of consolidation will occur soon.

In the past day, the crypto token reached an unprecedented peak of $4.63, only to dip down to $4.18. This up-and-down trend indicates a change in direction, and it seems that some investors are cashing out their profits. The altcoin continues to be unpredictable, with its future movements heavily influenced by market attitudes.

It’s quite possible that the value of OM might drop more to touch its crucial support at $3.47. If it manages to stay above this significant point, it’s likely to stabilize and potentially enter a period of consolidation. However, if it can’t hold onto this support, it could indicate a deeper adjustment, possibly leading to another look at lower price points.

Bitget Token (BGB)

Over the past day, BGB has consistently broken its own records by hitting an all-time high (ATH) of $3.38, marking a 22% surge. This unyielding growth underscores robust demand and investor enthusiasm, implying that this altcoin continues to hold significant influence in the ongoing market uptrend.

Despite anticipating that the ATH (All-Time High) trend may persist, it’s important to note that BGB might face a temporary setback should the overall market start to cool off. Market instability could potentially dampen its ongoing growth, particularly if investor confidence wanes or profit-taking becomes more prevalent in the near future.

A readjustment might push the value of BGB back towards $2.49, a point that could serve as significant reinforcement. If BGB manages to stay above this point, it may recover its upward trajectory. Nevertheless, should BGB fail to maintain this support, the price could plummet to $1.79, possibly challenging the current optimistic perspective.

Read More

2024-12-12 09:50