Following a brief cool down on the weekend and Monday, Bitcoin and most cryptocurrencies posted considerable recoveries, causing the market cap to grow by 6% in 24 hours to $1.69 trillion. The largest crypto increased by 5% to $43,0675 while Ethereum was trading at $2,238, up 5% in the same period. Investors seem to be paying extra attention to other altcoins outside of the majors like Bonk (BONK), Celestia (TIA), and Internet Computer (ICP). These tokens continue to sustain rallies unbothered by the frequent dips witnessed across the market.
Bonk Tops the List of Top Altcoins To Buy In December
Bonk, the meme coin built on the Solana blockchain, skyrocketed last week, with its value increasing by 640% in 30 days, 240% in a fortnight, and 70% in seven days.
Investors snatched up the meme coin propelling it to $0.000035. This move although sudden was an extension of the the uptrend from October low at $0.0000019 and the early December low of $0.0000035.
Two of the biggest crypto exchanges added support for BONK, starting with Coinbase on December 12 followed by Binance two days later. This exposed BONK to more users, increasing adoption and demand for the meme coin.
Despite the entire crypto market slashing gains since late last week, Bonk remains relatively high compared to its all-time high of $0.000035.
Bonk price chart | Tradingview
Investors would be looking forward to higher support areas, especially the region strengthened by the 20-day Exponential Moving Average (EMA) at $0.00001343.
If declines increase this week, other levels to look forward to for buying the dip opportunities would be the next support as highlighted by the 50-day EMA (in red) at $0.00000829.
Any sign of a recovery would signal investors to hold BONK, in turn, increasing demand and creating the momentum for another breakout to new all-time highs.
Celestia Price Prediction: TIA Searching For Higher Support
The newly launched crypto project, boasting to be the first modular blockchain network “that securely scales with the number of users, making it easy for anyone to launch their own blockchain,” although falling by 12% in the last 24 hours, has sustained an uptrend for almost two months.
Celestia is trading at $12 after recoiling from support at $11.45, coinciding with the dark horizontal ray and the lower ascending trendline on the four-hour chart.
Traders must be deliberate about pushing TIA to resume the uptrend, keeping in mind the immediate 50 EMA resistance at $12.20.
Celestia price chart | Tradingview
While some people might consider shorting TIA due to the sell signal from the Moving Average Convergence Divergence (MACD) indicator, they must be cautious knowing that the path with the least resistance could change with a potential buy signal likely to come later this week.
Springing from support at $11.45 is reassuring but not enough. Hence, Celestia must break the key resistance at $14 to ascertain the validity of the uptrend targeting $20. On the downside, losing support at $11.45 could prove futile for the bulls, with TIA likely to drop to $10 or $8.
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Internet Computer Price Prediction: Nurturing The Next ICP Breakout
Internet Computer is arguably one of the best-performing altcoins in December, after accruing 118% in gains from Dec 1 to date. Its price action continues to shock many in the market, while FOMO helps to keep it steady.
Like most cryptos, ICP hit a setback last week due to resistance at $11. A brief correction ensued shortly after which appears to have been contained by support provided by the 20-EMA.
Internet Computer is trading at $9.85 on Monday, up from support at $9. It is in the bulls’ best interest to fight to keep this support intact, otherwise, profit-taking due to the fear of ICP erasing the accrued gains might drive the price to lower levels, including the 50 EMA slightly below $8 and the 200 EMA at $5.77.
Internet Computer price chart | Tradingview
The MACD reinforces the bearish theory with a recent sell signal, implying that the ongoing recovery could lack momentum and result in another dip to seek liquidity before starting to rise again.
At the same time, sidelined investors may take the dips as signals to buy into ICP. Due to the increasing demand for the token, the uptrend has a high probability of regaining traction above the resistance at $11.
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