What to buy in December? Analyst: Follow these 5 currencies and wait for the altcoin coin bull to come.

Analyst: Follow these 5 currencies in December 2024

The year 2024 is coming to an end, and we have entered the last month! According to CoinGlass data, the average performance of BTC in December has risen by 4.95% every year since 2013, with 5 rises and 6 falls.

Source: CoinGlass BTC Price Performance in December Over the Years

After Trump was elected as the new President of the United States, Solana ($SOL), Ripple ($XRP), Dogecoin ($DOGE), and Cardano ($ADA) became the focus of the market. What can investors follow in the last month of 2024?

Victor Olanrewaju, an on-chain analyst at BeInCrypto, recently wrote that he is following 5 potential altcoins, predicting that they may bring exciting market performance in December: Hyperliquid ($HYPE), SUI ($SUI), Fantom ($FTM), Aptos ($APT), and Bonk ($BONK).

Olanrewaju said that these altcoins are attracting attention mainly because they are expected to undergo significant events, technological upgrades, or important market catalysts that could have a huge impact on their prices. He also shared short-term support and resistance analysis for reference only and should not be used as investment advice.

Hyperliquid ($HYPE) Price Trend Analysis

Hyperliquid is a blockchain that has just been launched for about a week, and its Token $HYPE has quickly become the focus of the market. Since its listing, the cumulative pump of $HYPE has exceeded 200% in a very short period of time, and it has not yet been listed on a large Centralized Exchange (CEX). As of today (12/3) when this article was written, $HYPE is quoted at $8.92, and has risen to a high of $9.4 in the past 24 hours.

Olanrewaju pointed out that the current $HYPE daily volume is quite impressive, reaching $250 million, which represents investors' high expectations for this emerging project.

Considering its rapid rise momentum, Olanrewaju predicts that $HYPE may continue to rise in December, and even have the potential to break the $10 mark, bringing lucrative returns to early investors.

Image source: BeInCryptoHyperliquid ($HYPE) price trend analysis

Sui（$SUI）price trend analysis

In the past month, the performance of SUI ($SUI) has been impressive, with the price of the coin rising by 75%, showing strong market momentum.

Olanrewaju pointed out that in December this year, Sui ($SUI) will experience a Token Unlock worth up to 210 million US dollars. Although unlocking usually increases market supply and may cause price fluctuations, Sui has shown some resilience in past unlocking events.

From a technical perspective, Sui is currently priced at $3.5 and has crossed above the 20-day and 50-day Moving Average (MA) on the EMA. This is generally seen as a bullish signal.

In favorable market conditions, SUI is expected to climb to $4.40 in December. However, in the face of massive selling pressure or unexpected market events, a pullback may occur, and the support level worth following is at $2.38.

Image source: BeInCryptoSui ($SUI) price trend analysis

Fantom ($FTM) Price Trend Analysis

Fantom ($FTM) may be highly anticipated in December, mainly due to the significant Sonic Upgrade launching on the Mainnet, which is expected to improve the network's transaction speed and performance, bringing a significant breakthrough to the Fantom ecosystem. At that time, the original $FTM will also be exchanged 1:1 for $S Token.

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Olanrewaju pointed out that driven by this Favourable Information, $FTM has risen 60% in the past month, successfully breaking through the $1 level, and is currently quoted at $1.25.

From a technical perspective, $FTM has formed an inverse head and shoulders pattern, which is a typical technical pattern that transitions from a bearish trend to a bullish trend.

In addition, looking at the performance of the Buy/Sell Power Indicator (BBP), $SUI longs currently still dominate.

Olanrewaju optimistically predicts that $FTM may surge to $1.14 in the short term, and even has the potential to hit the $2 integer mark as the Sonic Mainnet officially goes live. However, investors still need to closely follow potential selling pressure.

Source: BeInCrypto Fantom ($FTM) Price Trend Analysis

Aptos ($APT) Price Trend Analysis

Aptos ($APT) has performed well in the past month, and like Sui, will unlock about 135 million US dollars' Token in December, both of which have brought positive returns after unlocking.

Olanrewaju pointed out that from a technical perspective, $APT has formed a classic bullish ascending triangle pattern. As long as market demand and volume continue to rise, it may continue to rise, with the potential to reach a target price of $20 in December.

However, if there is a significant supply shock or a sudden market event, $APT may pullback quickly to $10.97.

Image source: BeInCryptoAptos ($APT) price trend analysis

Bonk ($BONK) Price Trend Analysis

As one of the most iconic meme coins in the Solana ecosystem, Bonk ($BONK) may have a special narrative in December.

The official plans to destroy 1 trillion Tokens before Christmas to reduce the circulating supply. In theory, this will increase the scarcity and potential value of Tokens.

Olanrewaju pointed out that from the daily candlestick chart, $BONK has found support around 0.0000043 US dollars. If it can continue to hold this level, it may start a Rebound, and even possibly surge to 0.000059 US dollars.

However, the high volatility and risk of meme coins are well known. If a large number of coin holders choose to cash out in December, this prediction may immediately turn into a bubble, and the coin price may fall to 0.000035 US dollars. The encryption market is extremely volatile, and investment decisions must be made cautiously. While chasing high returns, proper Risk Management and market research are also important.

Image source: BeInCryptoBonk ($BONK) price trend analysis

[Disclaimer] The market is risky, and investment should be cautious. This article does not constitute investment advice. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their specific circumstances. Investing based on this is at one's own risk.

What to buy in December? Analyst: Quickly follow these 5 coins and wait for the altcoin bull to come. This article was first published in the city of encryption.