A Promising Month for Altcoins: RNDR, SNX, and THETA - Latest cryptocurrency news

A Promising Month for Altcoins: RNDR, SNX, and THETA

A major cryptocurrency demonstrated strong risk appetite on the first day of December, reaching $38,999 and surpassing its yearly peak. Bitcoin, which is setting the tone, is being followed by altcoins that are also turning upwards. If positive expectations for December are met, these 3 altcoins could surpass Bitcoin.

RNDR, which has been on the rise since June 2022, gained momentum this year with increasing excitement around artificial intelligence and increased demand for GPU leasing services. In May, RNDR Coin reached 11,000 satoshis against BTC and broke through the resistance level of 9,000 satoshis. However, it was soon realized that this surge was just an anomaly.

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After observing a bottom level in August, the resistance zone was reopened with the increase in November. If the rally continues, gains against BTC could reach the 12,500 zone. However, closing below the resistance could trigger a return to the 6,000 satoshi zone.

SNX Coin, which made a significant breakout from the 1000-day resistance, broke away from its long-term trend line. Such interruptions in long-term structures indicate a shift in the trend towards bearishness. Divergence in RSI indicates that the rally could continue. If gains against BTC continue, a 100% increase can target the 17,000 satoshi resistance.

THETA Coin has been following a descending resistance line for 910 days since June 2021 and made several attempts in October. With the support of the bearish divergence in RSI, THETA Coin could surpass this zone. If THETA closes above this trend line, it could reach the 7500 satoshi resistance with a 165% increase against BTC. However, an unsuccessful transition or attempt could cause a drop to 2000 satoshis.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
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