As December approaches, investors are preparing for possible declines in the cryptocurrency market. Although new highs were witnessed in cryptocurrencies in October and November, recent data suggests that new low levels are expected in December, especially for three specific cryptocurrencies.
The price of Celestia (TIA) experienced an impressive rise, with a surge close to 200% starting on November 10. However, after reaching its peak of $7.42 on November 18, it started to decline. The RSI had signaled the decline beforehand, and if the RSI decreases while the price increases, it usually indicates a larger sell-off wave and a further decline.
Arweave (AR) showed significant growth from October 20, reaching $9.3 in 32 days. The 150% rally was followed by a long upper wick, indicating that sellers were entering the market. The RSI also supports the continuation of the decline, and if the downtrend continues, $6 could be a reasonable target.
CAKE Coin investors also faced a similar fate to the other two altcoins. The popular altcoin saw a swift increase from October 6, achieving a 170% gain and reaching $2.85. However, the loss of the $2.5 horizontal resistance weakened the outlook for CAKE Coin, and the RSI confirmed the continuation of the decline.
If the decline persists, the price of CAKE Coin could see new lows between $1.73 and $1.94. However, like the others, if the lost resistance becomes support, a return to the price of $2.85 could be possible.