December was a crucial month for Bitcoin. During the month, the world’s largest cryptocurrency broke its previous high of $ 20,000 and is still looking to break more records every day, and is currently heading towards $ 29,000. Needless to say, the broader altcoin market also benefited from Bitcoin’s success during the month. However, the way forward for most altcoins depends on their ability to maintain momentum.
Waves [WAVES]
Source: WAVES / USD, TradingView
Waves had a mixed December. Prices rise to the high at $ 8.90 at the start of the month. they cool down and drop as low as $ 5.43. For more than a week now, neither the bulls nor the bears have been able to take full control of the market. As a result, prices have consolidated between $ 7.15 and $ 6.20. Indicators suggest the market may be in for the short-term bears, but a move in either direction may be possible.
Bollinger bands indicated a period of low volatility and suggested that EOS may continue to trade in its current channel. Overall, the decline was highlighted as prices traded towards the lower band.
The relative strength index floated in neutral territory, but registered a slight increase, suggesting some optimism about the rise in prices. If the index moves up towards the overbought zone, prices could rise and test the resistance at $ 8.13.
EOS [EOS]
Source: EOS / USD, TradingView
EOS is still trying to regain its momentum after strong selling pressure pushed prices below their support at $ 2.3995. Even though EOS has since recovered, gains for the month are still languishing at a negative 12.48%. Currently, prices are trading in a thin channel of $ 2.67 and $ 2.39. Some indicators suggest that prices could move above this channel if the bulls take control of the market.
MACD was on the horizon of a bullish cross as the fast line caught up with the signal line. The resistance at $ 2.91 could be the next destination for EOS if prices were to rise.
Chaikin Money Flow supported the bullish outlook as the index moved higher, indicating that money was flowing into the EOS market.
Dogecoin [DOGE]
Source: DOGE / USD, TradingView
Dogecoin was relatively calm on the charts last week, with prices continuing to consolidate between $ 0.0048 and $ 0.0042. As prices continue to trade within a thin limit, a breakout in the upper direction can be expected once the consolidation is complete. Resistance at $ 0.005 could be targeted if prices rise. Likewise, if a breakout occurs in the opposite direction, prices could test the support at $ 0.003.
the Awesome oscillator was inconclusive to provide a definitive answer, as the prices were neutral-bullish. Finally, parabolic SAR the dotted markers were above the candlesticks and suggested that prices were indeed bullish. For now, the consolidation phase may continue before a breakout occurs.
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