In November and early December, Bitcoin (BTC) and several well-known altcoins experienced significant surges, with BTC reaching a new yearly high on December 5.
Exploring the Shadows: 3 Hidden Gem Altcoins With the Potential to Shock Investors in December
This article delves into lesser-known altcoins displaying bullish patterns, potentially setting the stage for substantial profits in the coming month. The spotlight will be on cryptocurrencies ranked between 150 and 350 in market capitalization. Particularly noteworthy is the PAAL token, which has seen a rapid increase in price since September 15, culminating in a new all-time high of $0.22 on November 20.
The momentum and structure of this ascent indicate the initiation of a new bullish trend. However, it’s essential to note that, starting in October and leading up to the all-time high, the Relative Strength Index (RSI) signaled a bearish divergence (highlighted in green).
Market traders commonly use the RSI as a momentum indicator to identify overbought or oversold conditions, guiding decisions on whether to accumulate or sell an asset. Readings above 50, coupled with an upward trend, indicate a bullish advantage, while readings below 50 suggest the opposite. A bearish divergence, as observed in the case of PAAL, happens when a momentum decrease accompanies a price increase, often preceding significant corrections.
Post-divergence, the altcoin experienced a 50% decline but found validation at the 0.5 Fibonacci retracement support level, coinciding with a horizontal support area.
Exploring the Unseen: SuperVerse (SUPER) Wraps Up the Era of Hidden Gem Altcoins
Identified as a potential gainer for December, SuperVerse (SUPER) emerges as the final altcoin with the promise of significant increases. The price of SUPER had been navigating beneath a long-term descending resistance trend line since March 2021, reaching a low of $0.069 in October.
In a notable turn of events, the SUPER price has manifested eight consecutive bullish weekly candlesticks, leading to a breakthrough from the 960-day-long trend line.
This breakout finds support in the Relative Strength Index (RSI), which is not only on the rise but is also positioned above the pivotal 50 mark.
Presently, the altcoin is trading within the confines of the $0.60 horizontal resistance zone. A successful breakout from this level could propel the price upwards by an additional 200%, targeting the next resistance milestone at $1.75.
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