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Top 5 Altcoins to Watch in December 2022:<\/span> Litecoin<\/a> (LTC) is one of the top altcoins to watch in December. While there are no imminent developments coming up, the Litecoin price has broken out from a long-term pattern and reclaim a horizontal resistance area.<\/strong><\/p>\n Theta Network<\/a> (THETA), Chainlink<\/a> (LINK<\/a>) and ApeCoin (APE<\/a>) have all generated bullish divergence while EOS<\/a> (EOS) has bounced at its yearly lows.<\/p>\n The THETA price<\/a> has decreased inside a descending parallel channel since Aug. 8. While such channels are expected to lead to breakouts, the price movement inside it is bearish.\u00a0<\/span><\/p>\n The THETA price broke down from the $1.05 area on Nov. 8 and has yet to reclaim it.\u00a0<\/span><\/p>\n Despite this bearish price action, the daily RSI<\/a> has generated bullish divergence (green line) and is moving upwards. However, it is still below 50.<\/span><\/p>\n As a result, the THETA price prediction is unclear. <\/span>A breakout from the $1.05 resistance area and the channel\u2019s resistance line would be bullish. In that case, the price could begin a long-term upward movement.\u00a0<\/span><\/p>\n Conversely, a rejection from the middle of the channel or the $1.05 resistance area would be bearish. <\/span>It would likely initiate a downward THETA movement toward the channel\u2019s support line.<\/p>\n Theta v4.0.0 went into effect through a hardfork on Nov. 2. The upgrade improves smart contracts by increasing the maximum code size. This was the final upgrade considered a prerequisite for the\u00a0<\/span>Dec. 1 launch of Metachain<\/span><\/a>. <\/span>The launch of Metachain will allow developers to quickly produce and launch a sub-chain and then plug it into the main chain. Since sub-chains carry out transactions independently, this will greatly assist in scaling issues.<\/span><\/p>\n The APE price<\/a> has decreased below a descending resistance line since Aug. 3. The downward movement led to a low of $2.61 on Nov. 14.<\/span><\/p>\n The daily RSI generated bullish divergence afterward, preceding the ongoing increase, which accelerated over the past 24 hours. The price will likely face strong resistance at $4, created by both a horizontal resistance area and the descending resistance line. Therefore, whether the APE price breaks out will likely determine the direction of the future trend.\u00a0<\/span><\/p>\n A successful breakout would likely send APE towards $5.22 \u2013 $5.83, while a rejection could cause a downward movement toward new lows.<\/span><\/p>\n There is positive news coming in Dec., since ApeCoin will\u00a0launch its staking program<\/a>\u00a0on Dec. 7 after an initial delay. It is not clear if this will catalyze a breakout.<\/span><\/p>\n The Litecoin price<\/a> had been trading inside an ascending parallel channel since June. After a long period of consolidation, LTC broke out on Nov. 23 and reached a high of $83.66. <\/p>\n While there is a bearish divergence (green line) in place, a decrease has already occurred as a result. Moreover, the LTC price bounced at the confluence of the horizontal support area and resistance line of the channel (green icon). <\/p>\n Therefore, whether it bounces or breaks down from this area will determine the direction of the future trend. In the case of the former, the next resistance would be at $100. In the case of the latter, a new yearly low would be expected.<\/p>\n Even though the Chainlink price<\/a> is trading close to its yearly lows, it has one of the more promising setups compared to other altcoins. On Nov. 20, Chainlink deviated below the $6 support area (green circle) before reclaiming it shortly afterward. <\/p>\n Such reclaims are often followed by significant movements in the other direction, as has been the case for Chainlink.<\/p>\n As a result, the Chainlink price is primed for a Dec. rally if it does not close below the $6 horizontal support area.<\/p>\n The EOS price<\/a> broke down from an ascending support line on Oct. 7 and validated it as resistance on Nov. 5 (red icon). It fell sharply afterward, reaching a new yearly low of $0.79 on Nov. 9. <\/p>\n The price bounced afterward, validating the $0.87 area as support.<\/p>\n If the bounce continues, the next resistance would be at $1, created by a descending resistance line. On the other hand, a breakdown below the $0.87 area would lead to a new yearly low. <\/p>\n There will be several\u00a0<\/span>new releases<\/span><\/a>\u00a0in Dec. such as EOS network Ventures, EOS Developer Hub and Antelope IBC.<\/span> These could have a positive effect on the EOS price.<\/p>\nTheta Network (THETA) Leads Altcoins To Watch<\/span><\/h2>\n
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ApeCoin (APE) Could Break Out Above Resistance<\/span><\/h2>\n
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Litecoin<\/span> Could Experience December Rally<\/h2>\n
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Chainlink Deviates and Reclaims<\/h2>\n
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EOS<\/span> Bounces at Nearly Lows<\/h2>\n
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