Top Altcoins to Buy in December: QNT, CAKE, BSV
The cryptocurrency market has been experiencing bullish trends in the fourth quarter of 2023, thanks to the growing optimism surrounding the approval of spot Bitcoin exchange-traded funds (ETFs). While Bitcoin (BTC) remains in the spotlight, many investors are also looking for promising altcoins to invest in before the anticipated New Year rally.
Why Quant Tops the List of Top Altcoins to Buy
If you’re interested in the altcoin season, Quant (QNT) should catch your attention. It has seen impressive gains recently, with a 1.7% increase in 24 hours, a 34% rise in seven days, a 25% surge in two weeks, and a whopping 44% jump in the last month. Although trading volume has decreased by 34% to $33 million, Quant’s market capitalization has increased by 1.56% to $1.7 trillion.
The breakout from support at $84 allowed bulls to regain control over the trend. If Quant manages to break above the current resistance at $145, it could enter a new bullish era and potentially test S/R at $160.
PancakeSwap Price Surges 10%
PancakeSwap (CAKE) has also been performing well, with a 65% increase in 30 days. It is currently trading at $3.75, and its trading volume has risen by 17% to an impressive $357 million. The market cap has also experienced an 11.55% pump to reach $1 billion, making CAKE the 82nd largest cryptocurrency.
Based on the daily chart, there is a high probability that CAKE will break above either the upper descending trendline or the S/R at $4. The RSI indicator supports the uptrend, indicating that buyers are in control. However, traders should be prepared for a possible correction if CAKE fails to reclaim support at $4.
Bitcoin SV Price Set for a Bigger Breakout
Bitcoin SV (BSV) has seen significant gains, with a 25% increase in one day and a cumulative surge of 90% in the last 30 days. Currently trading at $86, BSV faces resistance at $92. However, multiple bullish signals suggest that the path of least resistance is upwards.
A buy signal from the MACD indicator and a potential break above the 200-week EMA indicate that Bitcoin SV may tap into more liquidity and trigger FOMO for gains above $100. The crossover between the 20-week EMA and the 50-week EMA could also push BSV towards its all-time high at $477.
Hot Take: Altcoins Show Promise for December
If you’re looking for altcoins to invest in this December, Quant (QNT), PancakeSwap (CAKE), and Bitcoin SV (BSV) are worth considering. These altcoins have shown impressive gains in recent weeks and have the potential for further growth in the coming months. However, it’s important to keep an eye on key levels of support and resistance to make informed investment decisions.
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