With 2022 about to close, it’s a good time to take a look at what’s happening this year. Terra’s collapse, shifting macro sentiment, rising inflation, FTX’s bankruptcy and the millions of dollars in investor loss it caused were the main events of the year. In this article, let’s examine 3 altcoin projects that can make sudden price movements in the last week of 2022.
4 altcoins to watch for the week of December 25
Ethereum price was stronger than Bitcoin, up 2.6% since last week. As of now, Ethereum is still trading in a consolidation pattern. The daily chart clearly shows the current resistance at $1,300 and support at $1,000. This support level is extremely important for Ethereum. The leading altcoin has tested this level several times before. At the same time, investors are closely watching the movements from this level.
Technical analyst Ilan Tenennbaum says that once ETH price rises above $1,300, the next target will be $1,400. On the other hand, if the sellers regain control, the initial support on the downside will be $1,000 and then $700.
Ripple (XRP)
With the rumors about the SEC and Ripple lawsuit that emerged recently, XRP managed to rise again. Prior to that, the support zone was trading below $0.36. The next support area to watch in case the sellers lower the price is $0.33. However, if the bulls return to the markets, the next resistance to look out for is $0.40. Only a break above this level will mean a new rise for XRP.
cryptocoin.com We have included the latest developments from the SEC and Ripple case in this article. In the details, Ripple lawyers want to hide some documents that endanger the financial health of the company. The critical dates for the coming days are as follows:
- Pursuant to the decision announced on December 19, the above concealment proposal must be submitted by January 4, 2023.
- Parties are required to appeal against bag proposals to seal those submitted earlier on January 9, 2023
- The parties should submit the relevant annexes in the public filing by 13 January with the appropriate redactions from the court.
Litecoin (LTC)
At the time of writing, Litecoin has gained nearly 9% at one point over the past seven days. Technically, LTC is currently trading above a major support area at $70. If this level is held, the next level of resistance is $75. However, if the negative momentum continues, the next support area to watch will be $57.
Meanwhile, Litecoin will complete its third halving cycle in June of 2023. With halving, the LTC network is reducing mining rewards. This directly affects its price as a scarce asset, just like Bitcoin.