- After hitting the $15,000 zone during the FTX slump in November, Bitcoin has begun to rally to test the $17,000 zone again, possibly breaking above it.
- Ethereum is currently at the $1,289 zone after a failed attempt to break above the $1,300 zone.
- Dogecoin’s price action has been favorable in 2022.
2022 is slowly coming to an end, and this may either be a good or bad thing for cryptos, depending on where one looks.
This year had its fair share of mishaps, scams, and crashes, the most prominent of which are the Luna ecosystem crash in May and the recent FTX crash in November.
However, several cryptocurrencies across the market are starting to look up in terms of price action. Many are starting to rally up from their previous slumps after the FTX crash, while others are even starting to hit new highs.
If anything, December may be one of the most promising years for the cryptocurrency market. This article attempts to pinpoint some of the best cryptocurrencies to watch for this month before the year runs out.
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Hopefully, the days before Christmas and the new year will be better than the rest of the year.
Top 5 Cryptos to Watch Out for in December – #1: Bitcoin (BTC)
Being the first and most popular cryptocurrency on the market, Bitcoin has the largest market cap and, therefore, dominance as far as the crypto market is concerned. For this reason, the behavior of Bitcoin, in one way or another, affects that of the rest of the market.
It only makes sense that Bitcoin is one of the top cryptocurrencies to keep an eye out for within any timeframe.
After hitting the $15,000 zone during the FTX slump in November, Bitcoin has begun to rally to test the $17,000 zone again and possibly break above it.
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Depending on the strength of the bulls, if the price of the cryptocurrency stays above this $17,00 zone, a rally to higher grounds may become possible, leading to a profitable December.
The token summary on the cryptocurrency is on the bearish side, according to data from CoinMarketCap. However, Bitcoin is one of the top cryptocurrencies to keep an eye out for in December.
Top 5 Cryptos to Watch Out for in December – #2: Ethereum (ETH)
Just like Bitcoin, Ethereum is also starting to show signs of strength. After falling right to the $1,077 zone when the FTX crash happened, the second-largest cryptocurrency by market cap is now starting to rise to the upside.
So far, it has successfully broken above the $1,200 zone and may be aiming for a retest of the $1,300 zone.
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Ethereum is currently at the $1,259 zone after a failed attempt to break above the $1,300 zone. In December, the bulls on Ethereum may succeed in initiating a successful breakout before a rally to the $1,800 zone it has repeatedly failed to rise beyond.
Overall, the summary on Ethereum is neutral, meaning that the price can either rally or sink to previous supports if the bulls fail to step up.
Top 5 Cryptos to Watch Out for in December – #3: Dogecoin (DOGE)
Dogecoin has had a lot going on for it over the year.
Asides from Elon Musk, one of the biggest proponents and endorsers of Dogecoin, buying Twitter and sending out several hints at a possible Dogecoin-Twitter integration, there are speculations of an impending DOGE 1 Lunar satellite launch.
There are also rumors that Ethereum Founder Vitalik Buterin and Musk are planning on a “DOGE Upgrade” of some kind. This is also without mentioning that the price action of Dogecoin has been so good compared to others throughout the year, that about 60% of its holders are still in profit (compared to Bitcoin’s 45%).
Dogecoin’s price action has been favorable in 2022 and even more than doubled from a $0.07 low to a high of about $0.15 in the space of one week, sometime in October.
The overall verdict on Dogecoin at the time of writing is slightly bearish, according to data from CoinMarketCap. However, this metric has a very good chance of changing before December (and 2022) runs out.
#4: Polygon (MATIC)
Following its integration with several trillion-dollar corporations like META, Starbucks, and Reddit, it looks good for MATIC, the native token of the Polygon blockchain.
The later part of 2022 was so good to MATIC that the Polygon-based NFT sales soared by almost 200% in October alone. Because of this, Polygon has been one of the best-performing altcoins in the month, even outshining others like Ethereum (ETH), Solana (SOL), and Avalanche (AVAX).
At the time of writing, Polygon is down by 0.18% over the last 24 hours and has a neutral verdict on the CoinMarketCap analytics frame.
#5: ChainLink (LINK)
Chainlink (LINK) is becoming a serious threat to other mid-cap cryptocurrencies. Following the launch of its new staking feature, Chainlink has now enjoyed moderately strong price action, even rallying to the $7.61 zone.
Chainlink trades at $7.64 at the time of writing. However, the verdict on the cryptocurrency, according to CoinMarketCap, is still bearish.
In all, Chainlink holds a lot of promise and looks likely to be one of the cryptocurrencies that perform the best in terms of price action through December.
Disclaimer: Voice of crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.