2024-12-16 19:30 |
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.
LINK Price Analysis. Source: TradingViewIf 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.
WIF Price Analysis. Source: TradingViewWIF’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.
MOG Price Analysis. Source: TradingViewIf 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.
The post 3 Altcoins to Watch in the Third Week of December 2024 appeared first on BeInCrypto.
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