Bitcoin (BTC), large and lesser-known altcoins experienced substantial growth in December, with many altcoins achieving new yearly or all-time highs.
This analysis by BeInCrypto focuses on lesser-known altcoins exhibiting bullish patterns, suggesting the potential for significant gains in the coming month. The examination specifically targets coins ranked between 150th and 300th in market capitalization.
Reserve Rights (RSR) Breaks out From Long-Term Resistance
The RSR price had fallen under a descending resistance trend line since April 2021. The decrease led to a low of $0.0016 in August. The price began an upward movement afterward and broke out from the trend line in October. At the time of the breakout, the trend line had been in place for 924 days.
Traders utilize the Relative Strength Index (RSI) as a momentum indicator to assess whether a market is overbought or oversold and whether to accumulate or sell an asset.
If the RSI reading is above 50 and the trend is upward, bulls still have an advantage, but if the reading is below 50, the opposite is true.
The weekly RSI legitimizes the breakout since the indicator moved above 50 (green icon) while the price broke out.
If the altcoin continues its ascent , the price can increase by 200% to the next resistance at $0.0100.
Despite this bullish RSR price prediction, a close below the minor support at $0.0025 will invalidate the breakout. If that happens, RSR can fall by 50% to the closest support at $0.002.
Has Status (SNT) Price Begun Its Rally?
The SNT price had fallen under a descending resistance trend line since the start of 2021. The decrease led to a low of $0.018 in December.
Afterward, the altcoin began a slow upward movement and broke out from the trend line in October 2023. At the time of the breakout, the trend line had been in place for 900 days.
Similarly to RSR, the RSI legitimizes the upward movement by breaking out above 50 (green icon).
After the breakout, the altcoin reclaimed the $0.041 horizontal area , validating it as support last week. If the upward movement continues, the price can increase by 150% and reach the next resistance at $0.115.
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BRC20.com (COM) Concludes Lesser-Known Altcoins
COM is a BRC20 token , a narrative that enjoyed significant success this year with the Ordinals (ORDI) and SATS increases.
In December, COM made six unsuccessful attempts at breaking out from a descending resistance trend line (red icon). Since trend lines get weaker each time they are touched, an eventual breakout from the trend line is expected.
This is further supported by the COM price moving above the $3.60 horizontal area and the RSI above 50 (green icon).
If a breakout occurs, the COM price can increase by 60% to the next resistance at $6.10, close to the all-time high of $7.20.
Despite this bullish COM price prediction, a close below $3.60 will invalidate the possibility of a breakout. Then, COM can call by 20% to the closest support at $3.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions , Privacy Policy , and Disclaimers have been updated.
