3 Altcoins to Watch in the First Week of December 2024 | Airdrop Alert Pro

As the last month of 2024 approaches, the cryptocurrency market is expected to see some major changes volatility. Bitcoin is expected to hit the all-time mark of $100,000 before the end of the year, which could trigger a rally across all major and minor altcoins.

Until then, however, some altcoins are still looking for potential gains, and BeInCrypto has analyzed three such altcoins that are worth watching in the coming days.

Stellar Lumens (XLM)

star (XLM) may not be the best performing coin, but it is one of the altcoins to watch due to the bullish market trend. Its recent price action reflects investor confidence in positive signals from the broader market. Stellar performance and stability Highlighting its growing influence in the cryptocurrency space.

This week, Stellar validators will vote on Protocol 22’s mainnet upgrade following successful testing on the testnet. Such upgrades typically bring volatility, but this one could spark positive momentum. The successful implementation of this upgrade will enhance market confidence and may trigger an increase in XLM price.

Currently, XLM remains above the key support level of $0.41 and appears to be well-positioned to continue its uptrend. This level acted as a strong floor, preventing the price from falling significantly. However, a break below $0.41 would invalidate the bullish outlook and could lead to a drop to $0.25 for the altcoin.

Yield Guild Game (YGG)

The price of YGG remains below the $0.70 resistance and is struggling to break above this key barrier. for Altcoins A strong push to $0.80 is needed.

This level is crucial and hinders further gains. A move above $0.70 could open the door for a rally to higher targets.

A potential catalyst for YGG’s upward movement could be the impending “purge event.” If this event triggers a sustained positive market reaction, it could provide the necessary impetus for prices to break through resistance. Such events often lead to bullish sentiment, influencing price direction.

If YGG manages to turn the $0.70 resistance into support, it could pave the way for continued price gains. However, the bullish argument may fail if the $0.57 support falls below.

BANANA

The price of BANANA has fallen by 9% in the past 24 hours, taking the altcoin down to $60. This decline reflects market sentiment, but prices remain above key support levels.

this Telegram Bot Coin Preparations are underway to unlock 250,000 BANANA tokens each month, which will increase the circulating supply by $15 million. A surge in supply could create volatility, but could also boost prices on strong market cues. The outcome depends heavily on market sentiment.

If the market turns bearish, BANANA could drop to the next support level at $55. Loss of this support could signal further declines and could invalidate the current bullish outlook.