5 Altcoins to Watch in December

November was a good month for the cryptocurrency market. However, these five altcoins could attract even more attention in December.

Chainlink (LINK), ImmutableX (IMX), NEO, KAVA and MultiversX (EGLD) are facing interesting developments that could significantly affect their prices.

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Chainlink (LINK) Launches New Staking Program

On November 28, Chainlink launched an updated version of its staking program. Early access addresses will be able to use it on December 7th, and it will open to the general public on December 11th. According to the project team, the new program will provide greater flexibility, improved security, a dynamic reward mechanism and a modular architecture.

LINK’s price has fallen since hitting a high of $16.58 on November 11th. The decline hit a low of $12.86 six days later. The price has since risen, a move supported by the Relative Strength Index (RSI). The indicator rebounded from the 50 level and formed a hidden bullish divergence, which is considered a sign of a continuation of the uptrend.

If Chainlink price continues to rise, the next resistance will be at $18.30.

However, a close below $12.86 would invalidate the bullish forecast. In this case, LINK could fall by 27% to the support line of the ascending channel.

ImmutableX (IMX) Releases New Mainnet

In August, ImmutableX launched the zkEVM testnet. In December, the project team plans to bring it to the mainnet.

The price of IMX has been rising rapidly since early November. The upward movement culminated in the $1.50 high reached on November 23rd. The asset is currently trading above the $1.20 horizontal area, which is expected to provide support.

If ImmutableX bounces, it could rise 24% to the next resistance at $1.60.

However, a daily close below the $1.25 area could result in a 20% drop to the next closest support level at $1.

NEO upgrades the main network

The NEO team plans to update the main network on December 4th. The upgrade will provide a number of improvements and optimizations.

The price of NEO has been rising rapidly since breaking above the descending resistance line on October 26th. The upward movement culminated in a high of $15.46 reached on November 5th.

However, the price was unable to sustain the rise and formed several long upper wicks, which are considered a sign of selling pressure.

Despite the decline, NEO is trading above the horizontal support area at $10. If it bounces, it could soar 35% and reach the $14.50 resistance area.

Despite this bullish outlook, a close below the $10 area could trigger a 30% drop to the nearest support level at $7.50.

MultiversX (EGLD) stakers vote on governance proposal

EGLD stakers vote on the first proposal to govern the protocol. Voting began on November 23 and will last until December 3. So far, nearly 98% of participants have voted for the Sirius 1.6 protocol update, which features optimized consensus signature verification, expanded voting, and support for multiple keys for shard chains.

In October, EGLD price bounced off a long-term descending resistance line, reaching a high of $53.45. Although it has since pulled back, the asset is still trading inside the $43 horizontal support zone.

If the price resumes its upward movement, the MultiversX rate could rise by 45% and reach the next resistance level at $63.

On the other hand, a close below $43 could result in a 25% drop and a retest of the long-term descending resistance line.

KAVA is preparing to continue its upward movement

KAVA rounds out our list of altcoins to watch in December. On November 29, the project team held an AMA to discuss new developments that will be implemented in the near future.

KAVA price has been rising rapidly since breaking above the descending resistance line on October 20th. The bullish momentum saw the asset hit a high of $0.87 on November 11th.

Even though the price of the altcoin has fallen since then, it is still trading above the horizontal support area of ​​$0.70. If the situation does not change, the most likely forecast for the future is a 30% rise to the next resistance at $1.

However, a close below the $0.70 area could nullify the positive outlook. In this case, KAVA will expect a decrease of 25% to $0.57.

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