Cryptocurrencies have started the day on a high note, with altcoins like MINA and SOL witnessing gains exceeding 20%. Investors are finally reaping the rewards of their patience, which spanned approximately 1.5 years. Those who capitalized on this year’s lows are now enjoying gains ranging from 5x to 10x.
The holiday season has brought a stark contrast to the previous year’s trends, with altcoins that hit rock bottom during the same period in 2022 now reaching 1.5-year highs. On the Binance exchange, there are 13 cryptocurrencies that have achieved gains of over 20%. MINA Coin has joined this recent rally by breaking through the tough $1 resistance level.
Following a double bottom formation, MINA’s price has shown a significant recovery over the last two months, with gains surpassing 227% from its last low at $0.35. To maintain its bullish reversal pattern, the popular altcoin needs to break through the tough neckline resistance at $1.25, which currently seems achievable.
If MINA Coin can fulfill expectations, it would indicate a reversal in trend and the emergence of new entry opportunities, with a target increase of 71% to $2.15. While short-term pullbacks are possible, the general direction appears to be upward for now.
Thorchain (RUNE) experienced a sharp reversal in its price rally on December 3rd, dropping from $7.29. With a 30% pullback due to a shift in market sentiment, RUNE Coin found its local bottom at $5. The current chart pattern suggests an impending correction, with potential pullbacks to $5.1 and then $2.68 if the price is rejected between the $6.2 to $6.5 resistance range, despite the low likelihood following ETF approval.
On the other hand, if the uptrend continues, the rally could extend beyond $7.3 to $9.7. Similarly, Polkadot (DOT) has seen a 15% increase to over $9 after recovering from its October low of $3.5. If the rally persists, bulls will need to overcome the tough resistance at $9.7 to set sights on double-digit targets.