The cryptocurrency market is experiencing a significant recovery as the new year approaches, with some altcoins surpassing their all-time highs. We’re analyzing the current price targets and technical outlook for potential new peaks. Here are the details.
SEI Coin has been on the rise since hitting a low of $0.1 on October 19th, reaching an all-time high of $0.32 on December 5th. This December marks a unique period of growth for BTC and many cryptocurrencies, with the cumulative value of cryptocurrencies exceeding $1.63 trillion.
On December 13th, SEI Coin’s price increased by 50% in two days as BTC sales weakened, reaching an all-time high of $0.34. According to Elliott Wave Theory, if the third wave of the five-wave uptrend is the same length as the first, the altcoin could rise by 35% and exceed $0.44. An extension to $0.58 is also possible. However, a loss of the $0.3 support could lead to a 30% drop to $0.22.
INJ Coin, one of the best performing altcoins this year, has seen roughly a 30-fold increase and continues to attract investor interest, with the price hovering around the $40 mark. Elliott Wave counting suggests INJ Coin is nearing the peak of its fifth and final wave, potentially reaching $40.7 before a reversal. A break above this level could extend the peak of the final rally wave to $61.5. Conversely, a pullback to the $17 support level is possible.
BGB Coin has been gradually increasing since July 2022 and is now breaking through the tough $0.5 resistance. With the RSI above the neutral zone, the altcoin is setting sail for new highs, having reached $0.7 today. If the rally continues, the next target could be $0.85. On the flip side, a reversal from the peak could lead to a drop to the $0.5 support level.