5 Altcoins You Should Watch in December 2024

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As a seasoned analyst with over two decades of experience in the financial markets, I have seen my fair share of bull and bear runs, market rallies, and corrections. However, none has prepared me for the unpredictable rollercoaster that is the crypto market. That being said, let me share my thoughts on the top 5 altcoins to watch in December 2024.

Historically, December often sees significant activity in the cryptocurrency market, and it’s possible that this trend might continue into December 2024, especially with regard to alternative coins (altcoins). BeInCrypto has highlighted some key altcoins that could be worth keeping an eye on as the year winds down.

In this roundup, we’re highlighting digital currencies that have significant events happening in December which might influence their market values. While there are certain altcoins without such triggers, the following noteworthy options are worth monitoring closely this month.

Hyperliquid (HYPE)

At the forefront of altcoins to keep an eye on in December 2024 is Hyperliquid (HYPE), the token associated with the Layer-1 blockchain that debuted roughly a week prior. Since its launch, HYPE’s price has surged by more than 200%, an impressive rise, even considering distribution rewards given to some of its early supporters in airdrops.

Currently, HYPE’s price stands at $9.51, surprising many since it isn’t yet listed on any centralized exchange. Normally, when coins similar to HYPE debut without being listed first on a centralized exchange, there’s often heightened demand, which can lead to an increase in the coin’s value.

Given the substantial daily trading volumes that HYPE consistently achieves, it’s reasonable to expect a price surge for this cryptocurrency in December, positioning it as one of the five noteworthy altcoins worth monitoring as the year comes to a close.

Sui (SUI)

As a researcher, I wouldn’t be taken aback to find SUI listed as one of the altcoins worth keeping an eye on in December 2024. Over the past few months, this token has been among the top performers in the cryptocurrency market, experiencing a remarkable increase of 75% over the last 30 days alone.

There’s a lot of anticipation for SUI right now because $210 million worth of tokens are being released today. Typically, these kinds of events can lead to market volatility and increased supply, but in the past, SUI has tended to see positive price movements in the following weeks.

Given its past achievements, it’s reasonable to anticipate that SUI might put in a robust showing this month. Technically speaking, the current SUI price is hovering above not only the 20-day but also the 50-day Exponential Moving Average (EMA), indicating a potential positive trend.

Normally, if the price goes beyond this level, it suggests an upward or bullish trend. Conversely, falling short of this level usually signals a downward or bearish trend.

As a crypto investor, I’m optimistic about SUI’s potential. Currently, it’s trading at around $3.40. By December 2024, there’s a possibility it could surge above $4.40, but that depends on market conditions. If the token encounters significant selling pressure, though, it might not reach that target and instead dip down to approximately $2.38.

Fantom (FTM)

Leaving out Fantom from the list of altcoins worth monitoring in December 2024 would mean an inadequate review, as the highly anticipated Sonic upgrade – set to boost throughput – is scheduled for launch on Mainnet this very month.

Prior to further advancements, the price of FTM has reached one dollar, driven by a significant 60% increase over the past month. On its daily chart, this cryptocurrency has constructed an inverted head-and-shoulders pattern, which typically indicates a shift from bearish to bullish sentiments.

Currently, Filecoin (FTM) is priced at approximately $1.03. But given the increasing Bull Bear Power (BBP), a sign of bull dominance, there’s potential for the price to reach around $1.14 in the near future.

As a researcher, I am pondering over the anticipated launch of the Sonic Mainnet in December 2024. This event might propel our cryptocurrency’s value towards the two-dollar mark, but it’s essential to consider potential challenges. If selling pressure intensifies significantly, the upward trend could potentially be disrupted and nullified.

Aptos (APT)

As a researcher, I’m keeping a close eye on Aptos, another promising Layer-1 token this December. Notably, like SUI, Aptos has an upcoming token unlock worth approximately $135 million slated for this month.

It’s worth noting that Aptos and SUI seem to have a similar trend: they frequently see price rises after their tokens are unlocked. If past trends hold true, APT might end December on a profitable note.

Technically speaking, APT appears to be forming an upward sloping triangle, a pattern often seen as bullish in the world of cryptocurrencies. This particular shape indicates that the price could potentially rise further if both trading volume and demand keep growing.

As a crypto investor, I’m excited about the potential of APT, but I need to stay vigilant. The price could surge towards $20 next month if things go as expected. But, if there’s an unexpected supply shock, the price might plummet to $10.97 instead. So, I’ll keep a close eye on market dynamics to make informed decisions.

Bonk (BONK)

Among the noteworthy altcoins to keep an eye on in December 2024, Bonk stands out as the most valuable meme coin based on the Solana blockchain. The reason for its inclusion is a planned token burn, designed to decrease supply and potentially boost its worth by increasing scarcity.

Earlier on, BeInCrypto announced that BONK aims to destroy 1 trillion of its tokens by Christmas. Should this objective be met, it could potentially trigger a substantial surge in the altcoin’s value.

Although BONK’s price has seen a recent dip from its peak, the daily chart indicates robust support at approximately 0.0000043. Given this perspective, it’s likely that the price may rebound from this level and potentially climb to around 0.000059 or even higher.

Conversely, should BONK holders decide to cash out their earnings in December, this forecast could prove incorrect, potentially leading to a value of $0.000035 for the meme coin.

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2024-12-01 12:46