Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
3 Altcoins to Watch in the Third Week of December 2024

3 Altcoins to Watch in the Third Week of December 2024

BeInCryptoBeInCrypto2024/12/16 08:30
By:Tiago Amaral

Chainlink soars to a two-year high on strong momentum, while dogwifhat and Mog Coin experience sharp declines amid bearish pressure.

The past week has seen significant movement across altcoins, with Chainlink (LINK) surging nearly 20% to reach its highest price since November 2021, driven by strong buying pressure.

In contrast, dogwifhat (WIF) has fallen by 20%, dropping below the $3 billion market cap threshold and nearing its lowest levels since mid-November, as bearish sentiment weighs heavily. Similarly, Mog Coin (MOG) has declined 19%, slipping to 8th place among the largest meme coins and facing the risk of being overtaken by altcoins like PEANUT and POPCAT.

Chainlink (LINK)

Chainlink price has surged nearly 20% over the past week, reaching $30.94, its highest price since November 2021. This rally highlights strong buying pressure and renewed investor interest, positioning LINK for potential further gains for the altcoin if momentum holds.

The EMA lines show LINK’s uptrend remains strong, while the RSI at 57 indicates healthy momentum without being overbought. This suggests LINK has room for further growth, supporting the bullish narrative for now.

3 Altcoins to Watch in the Third Week of December 2024 image 0LINK Price Analysis. Source: TradingView

If LINK breaks the $31 resistance, it could test $35 next. However, if the trend reverses, support levels at $27.4 and $22.4 might come into play, providing a buffer against deeper declines.

dogwifhat (WIF)

WIF price has dropped around 20% in the past week, falling below the $3 billion market cap threshold and now sitting at $2.65 billion. This decline reflects significant bearish pressure, pulling WIF to its lowest levels since mid-November.

Despite being the fourth-largest meme coin, WIF risks losing its spot to BONK, as the market cap gap between them is just $400 million. Continued underperformance could see this ranking shift in the near term.

3 Altcoins to Watch in the Third Week of December 2024 image 1WIF Price Analysis. Source: TradingView

WIF’s EMA lines are bearish, with short-term averages below long-term ones and the price trading under all key levels. If the downtrend persists, WIF could test support at $2.5, with further declines possibly reaching $2.19.

Mog Coin (MOG)

MOG has dropped 19% over the past week, slipping to 8th place among the largest meme coins. It risks being overtaken by other altcoins like PEANUT and POPCAT if the downtrend continues.

Short-term EMA lines for MOG are declining and could soon cross below long-term ones, forming a death cross, a strong bearish indicator. This suggests the current correction may deepen for the altcoin.

3 Altcoins to Watch in the Third Week of December 2024 image 2MOG Price Analysis. Source: TradingView

If the death cross forms, MOG could test supports at $0.00000267 and possibly fall further to $0.0000020. A trend reversal, however, could see it challenge resistance at $0.0000033.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

The Daily: ECB President Lagarde rejects bitcoin for Eurozone reserves while the Czech central bank considers it and more

European Central Bank President Christine Lagarde said bitcoin is not an option as a reserve asset for the Eurozone’s central bank reserves, citing liquidity, security and regulatory concerns.Meanwhile, the Czech National Bank approved a proposal from Governor Aleš Michl to assess diversifying some of its country’s reserves into bitcoin.

The Block2025/01/30 21:34

'Inevitable collapse': Trump’s crypto push sparks concern at Paul Singer's Elliott Management: FT

The hedge fund said in a new investor letter that the “inevitable collapse” of the crypto bubble “could wreak havoc,” according to the Financial Times.Elliott’s Paul Singer has never been a fan of crypto, telling WSJ in 2023 that cryptocurrencies are “completely lacking in any value.”

The Block2025/01/30 21:34