Top Altcoins Prepare for New Year Rally
After the holiday break, altcoins like Binance Coin (BNB), Polygon (MATIC), and Uniswap (UNI) are gearing up for a New Year rally. Major cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and XRP are also on the move, with positive price increases. Solana price has surged to its highest level since April 2022, sparking concerns of a potential market correction.
The approval of spot Bitcoin exchange-traded funds (ETFs) in January could prevent a market pullback. The Securities and Exchange Commission (SEC) has set a deadline for the submission of spot ETF applications, indicating that approval is imminent. This development is expected to significantly increase demand for BTC and have a positive impact on the entire crypto market.
Binance Coin Leads the List of Top Altcoins
Binance Coin (BNB), the native token of the Binance exchange, has been on a bullish trend since mid-October. It recently broke above key resistance levels and is currently trading above strong support at $300. Investors looking to buy BNB can consider the Moving Average Convergence Divergence (MACD) indicator, which has given a buy signal. A successful retest of support at $300 could be an ideal entry point.
Polygon Price Prediction as MATIC Surpasses $1
Polygon (MATIC), the leading Ethereum layer-2 protocol, has maintained its uptrend since October. With prices trading slightly above $1, investors may continue seeking exposure to MATIC. However, an overbought RSI suggests that selling pressure may increase if investors decide to take profits. Traders should wait for MATIC to break above the resistance at $1.1 before considering long positions.
Uniswap Price Prediction as Bulls Target $10
Uniswap (UNI), the token of one of the largest decentralized exchanges, is rallying within an ascending channel and aiming for $10. Trading above a major support level, UNI has received a buy signal from the MACD indicator and shows bullish crossovers based on moving averages. If buyers continue to push UNI higher, a breakout above the upper resistance could propel it above $10. However, support at $7 must hold to maintain the uptrend.
Hot Take: Altcoins Poised for New Year Surge
As we enter the new year, altcoins like Binance Coin (BNB), Polygon (MATIC), and Uniswap (UNI) are showing signs of a potential rally. With Bitcoin ETF approval expected in January, the entire crypto market is poised for growth. BNB, MATIC, and UNI are among the top altcoins to consider buying in December. Keep an eye on key levels and indicators to make informed investment decisions.
By
By
By
By
By