Terra Classic(LUNC)
The price of Terra Classic (LUNC) has experienced significant growth in the last two weeks, jumping from a low of $0.000069 to a high of $0.00028, a 308% increase. However, the price has retraced from its peak and is currently trading at $0.000222. This retracement is common after a rapid growth period and is meant to regain bullish momentum. If the correction finds support at either the 38.2% Fibonacci retracement level of $0.00194 or the 50% FIB level of $0.0001685, LUNC could resume its bullish recovery and aim for a new high of $0.0003073.
Stacks(STX)
The price of Stacks (STX) started gaining momentum in the fourth week of November when it rebounded from the $0.58 support level. The resulting bullish rally pushed the price up by 102% to its current trading price of $1.16. Recently, the price broke out from a long-coming symmetrical triangle pattern, indicating that buyers are escaping a 20-month consolidation phase and accelerating their buying momentum. If the price can sustain above the breached level, the post-breakout rally could increase prices by 37.85% to reach the first target at $1.56, followed by $2.25.
Conflux(CFX)
During the past four months, Conflux (CFX) has been moving sideways but recently formed an inverted head and shoulder pattern on the daily chart, which is typically seen as a bullish reversal pattern at market bottoms and suggests an early sign of trend reversal. Boosted by the current recovery sentiment in the market, CFX experienced a breakout from the neckline resistance of this pattern on December 4. The price is currently trading at $0.21 and attempting to sustain above the breached resistance. With the influence of the chart pattern, a recovery trend could increase by another 30% to hit a target of $0.28, surpassing several swing high resistances and changing the Dow theory formation to an uptrend.
Hot Take: Altcoins with Potential for Accelerated Rally in December 2023
The cryptocurrency market has seen a resurgence in value recently, with Bitcoin and Ethereum leading the way. However, there are several altcoins that have not only followed suit but have also outperformed these market leaders. Terra Classic (LUNC), Stacks (STX), and Conflux (CFX) are three such altcoins that show potential for a more accelerated rally in December 2023. LUNC has experienced significant growth and could resume its bullish recovery, while STX has broken out from a symmetrical triangle pattern and could see further price increases. CFX has formed an inverted head and shoulder pattern, indicating a trend reversal and the potential for a 30% rally. Keep an eye on these altcoins as they may provide exciting opportunities in the crypto market.
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