Top 5 Cryptos Poised for a Price Surge in December: ADA, TIA, RUNE, LUNC, BTC
As the year comes to a close, cryptocurrency enthusiasts are eagerly anticipating a potential boom in the market, especially for the top 5 cryptocurrencies we have analyzed below. December is expected to be a crucial month for digital assets.
Among the numerous cryptocurrencies, five stand out as strong contenders for a significant price surge. These include Cardano (ADA), Celestia (TIA), THORchain (RUNE), Terra Classic (LUNC), and the ever-popular Bitcoin (BTC). These cryptocurrencies have garnered attention from investors and analysts due to their unique features, strong fundamentals, and growing anticipation.
Bitcoin (BTC)
Bitcoin is rapidly approaching the $40,000 mark. The potential approval of a Bitcoin ETF by the Securities and Exchange Commission is one of the factors driving its price. In the last 24 hours, the price of Bitcoin has increased by 3.2%, reaching approximately $38,856 according to Coingecko. Coincodex predicts that Bitcoin could reach $58,000 in the coming month.
Analysts, such as CryptosRUs, believe that Bitcoin will soon reach $40,000 and even higher, citing the upcoming halving event and potential ETF approvals as major catalysts.
Cardano (ADA)
Cardano (ADA) experienced a 30% price increase in November, marking its second consecutive month-over-month gain. Bullish traders have placed orders to buy an additional 41.7 million units of ADA, outnumbering sell orders. Experts predict that ADA could surpass the $0.90 threshold in less than six months due to the explosive growth of decentralized banking apps on the Cardano platform.
Analyst Ali Martinez projected in November 2023 that ADA would reach annual highs, which bodes well for the coin’s prospects in 2024.
Celestia (TIA)
Market experts believe that Celestia (TIA) is a worthwhile investment in 2023 due to its status as the industry’s first modular blockchain network and its immense future potential. The price of TIA shows a bullish pattern, with local support at $6.20 and resistance at $7.27. If the resistance is broken, experts predict a possible rally towards $8. Despite the Celestia mainnet going live on October 31, bulls claim that TIA may rise as high as $9.70 by the end of 2023.
THORChain (RUNE)
The value of THORChain (RUNE) increased from $3.76 to $6.35 by the end of November, a 70% increase driven by the rise of THORChain as the second-largest decentralized exchange. Forecasts for the end of 2023 indicate a possible peak at $10.2, with crucial support levels between $3.4 and $4 being essential for sustaining this upward trajectory.
Terra Classic (LUNC)
Terra Classic (LUNC) has seen significant price action in the past month, with a 22% increase in just one day and an almost 130% increase over the previous month. Traders are optimistic about LUNC after its recent decline, and sentiment analysts predict a resurgence in its value. If the bullish trend continues and additional ecosystem growth occurs, LUNC could potentially reach $0.001 by 2024, although short-term price behavior remains unpredictable.
Please note that the content of this article is for educational purposes only and should not be considered investment advice. Investing carries risks, and you are advised to conduct your own research before making any investment decisions.
