These Altcoins Surge as Bitcoin Price Hovers Around $38,000 – Is This a Sign of a Bullish December?
The post These Altcoins Surge as Bitcoin Price Hovers Around $38,000 – Is This a Sign of a Bullish December? appeared first on Coinpedia Fintech News
The crypto markets are heading towards the last phase of the year, which is largely believed to be historically bullish. The major altcoins have been rising slowly and steadily, achieving the interim milestone and preparing for the upcoming bull run. However, the Bitcoin price remains at around $38,000, which has provided a strong base for these altcoins to flourish.
Besides, the Ethereum price also withstands above $2000, which indicates the growing strength of the altcoins. The market cap of some of these altcoins is soaring, as they have been experiencing a significant rise in social volume. As per the data from Santiment, altcoins like Avalanche, Polkadot, Lido DAO token, etc., and a few others have surged.
The volume of these tokens soared, leading to a significant rise in their market share. This led to a rise in the social volume for these tokens, while attention over the star crypto, Bitcoin, has dropped to some extent. This also indicates that the market participants could be slightly biased toward the altcoins, which could form a strong base for the upcoming altseason.
The AVAX price achieved the crucial resistance zone between $20.47 and $21.55 for over a week, and the recent price action has offered a notable push towards the next high at $25. Besides, the DOT price has been rising consistently after rebounding from the lows and is presently heading to interim highs at $5.87. Alongside, LDO volume has soared heavily since the start of the month, causing a fine rise to the pivotal resistance between $2.5 and $2.6. Despite a pullback, the price seems to be achieving these levels any time from now on.
Filed under: Bitcoin - @ December 1, 2023 5:01 am