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Finbold

12/04/2023

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Top 5 altcoins to buy in December

While the cryptocurrency market takes a strong bullish turn, its advances are the most evident in the performance of the flagship decentralized finance (DeFi) asset – Bitcoin (BTC). However, other...

Top 5 altcoins to buy in December

While the cryptocurrency market takes a strong bullish turn, its advances are the most evident in the performance of the flagship decentralized finance (DeFi) asset – Bitcoin (BTC). However, other cryptocurrencies, also called ‘altcoins’ are showing signs of strength as well.

In fact, a pseudonymous crypto expert Moustache observed that “we’re still very early” into a massive bull rally for altcoins and that “you’re not ready for what’s coming,” in a chart pattern analysis shared on December 3 and these five cryptocurrencies could be great buys in the last month of 2023.

#1 Cardano (ADA)

Specifically, Cardano (ADA) has consistently advanced in the last few months, and the recent surge in ADA transactions over $100,000 has demonstrated increasing interest from institutional investors and whales and typically precedes price spikes, according to the observations by crypto trading expert Ali Martinez.

Cardano large transactions. Source: Ali Martinez

Meanwhile, Cardano was at press time changing hands at the price of $0.405, demonstrating an increase of 3.16% on the day, as well as growing 6.35% across the past week and advancing 24.69% in the last month, as the latest data suggests.

Cardano 30-day price chart. Source: Finbold

#2 Ethereum (ETH)

At the same time, Martinez identified the current period as a “prime buying moment” for Ethereum (ETH), considering its next target could be $3,500. What’s more, there are signs of ‘fear of missing out’ (FOMO) as open interest and longs increase, according to the crypto analytics platform Santiment.

Ethereum open interest and longs. Source: Santiment

As things stand, Ethereum is currently trading at $2,245.62 – the price which indicates a gain of 3.69% in the last 24 hours, an increase of 10.77% across the previous seven days, and a more significant gain of 22.07 % on its monthly chart, the latest chart information shows.

Ethereum 30-day price chart. Source: Finbold

#3 Dogecoin (DOGE)

Elsewhere, as for the famous dog meme cryptocurrency, Dogecoin (DOGE), it has recently crossed the major obstacle to its bullish continuation earlier identified by Martinez, which he said would “open the gates for DOGE to nearly double its price, aiming for a target of $0.14,” as evident in the analysis by Crypto Tony.

Dogecoin price action analysis. Source: Crypto Tony

Presently, the price of Dogecoin stands at $0.0879, recording an advance of 4.10% on its daily chart, adding up to the weekly gain of 11.28% and an increase of 27.91% over the month, according to the most recent information on December 4.

Dogecoin 30-day price chart. Source: Finbold

#4 Solana (SOL)

In the meantime, where Solana (SOL) is concerned, the fact that investors are staking more than 93% of its native token in circulation – up 63% in November – suggests that they trust the protocol enough to lock their liquidity for the long term, as Finbold reported on December 2.

Solana staking data on December 2. Source: StakingRewards

In terms of price, Solana was at the time of publication changing hands at $60.77, suggesting a 4.18% loss on the day, but still an advance of 10.42% across the past week, and a 45.81% run in the last month, as per the most recent chart data.

Solana 30-day price chart. Source: Finbold

Recently, Chainlink (LINK) became the most purchased crypto asset in the last two weeks of November, according to the experts at the analytics platform The DeFi Edge, whereas Martinez noted the “largest spike in whale transactions for the year, with over 2,600 transactions exceeding $100,000 each.”

Chainlink whale transactions. Source: Ali Martinez

Currently, the price of the Chainlink altcoin amounts to $15.74, which represents a decline of 1.39% in the last 24 hours. Nonetheless, it is still recording an increase of 10.34% and accumulating a more significant advance of 39% on its monthly chart.

Chainlink 30-day price chart. Source: Finbold

Conclusion

In conclusion, the above altcoins present a great opportunity in December, taking into account their price performance and positive developments surrounding their ecosystems. Having said that, it is important to carry out one’s own research and risk tolerance analysis before investing.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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