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As the last month of the year begins, attention now returns to earnings. However, the beginning of December was rather unpleasant, given that more than $162 billion was removed from the cryptocurrency market today. However, some altcoins managed to continue their growth.
BeInCrypto analyzed three altcoins that could see a new rally in the coming week.
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It’s raining
RAIN is trading at $0.0080, which puts it just 7% below its all-time high of $0.0086. Altcoin again One of the strongest currencies, maintaining near record levels despite the general volatility of the market.
For RAIN to reach a new ATH level, $0.0079 should be secured as a strong support. If it manages to rebound from this level, it could push the price towards $0.0100, indicating renewed bullish momentum and increased confidence from investors.
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If investors take profits early, RAIN may lose momentum and fall towards the $0.0067 support level. A drop below this threshold will invalidate bullish expectations and postpone any attempt to achieve new highs.
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Monero (XMR)
XMR is trading at $412, holding a level just below the $417 resistance. The privacy-focused altcoin remains relatively close to its all-time high of $471, keeping the bullish outlook alive despite general market uncertainty.
Reaching the ATH requires only a 14% increase, supported by investor demand and a decisive conversion of $450 resistance into support. The Ichimoku Cloud is currently showing full bullish momentum, suggesting that XMR may be tested Another upward movement If market conditions cooperate.
If investors take profits or general sentiment weakens, XMR could face renewed selling pressure. A break from the current levels could see the price fall towards $364, which negates the bullish outlook and postpones any attempt to test the high again.
Undead Games (UDS)
UDS is trading at $2.97, just above the major resistance level of $3.00. This psychological barrier should be converted into support for the altcoin to maintain its upward trajectory and strengthen its recovery outlook in the short term.
The all-time high is 16% higher at $3.44, and current indicators support a move towards it. The Parabolic SAR indicator remains below the candles, indicating an active bullish trend. If the UDS secures the $3.20 level as support, it could push momentum towards breaking new highs.
If selling pressure emerges, UDS may fall to the $2.73 support level. A failure below this zone could weaken the bullish structure and possibly send the price towards $2.59 or lower, completely invalidating the bullish theory.
