Top 5 Altcoins to Watch in December: Chainlink, ImmutableX, NEO, KAVA, and MultiversX

November proved to be a successful month for the cryptocurrency market, and these five altcoins may attract even more attention in December.

1. Chainlink (LINK): Staking Program Launch

• Chainlink launched an updated staking program on November 28. Early access participants can utilize it starting from December 7, with full public access on December 11. The new program promises increased flexibility, enhanced security, dynamic reward mechanisms, and modular architecture.
• LINK’s price has shown resilience despite a dip after reaching a peak of $16.58 on November 11. The Relative Strength Index (RSI) indicates a hidden bullish divergence, suggesting a potential continuation of the uptrend.
• If LINK continues to rise, the next resistance is expected around $18.30. However, a close below $12.86 could invalidate the bullish forecast, potentially leading to a 27% drop to the ascending channel’s support.

2. ImmutableX (IMX): Mainnet Launch

• ImmutableX plans to launch its zkEVM mainnet in December after introducing the testnet zkEVM in August. IMX’s price has seen rapid growth since early November, culminating in a peak of $1.50 on November 23.
• Trading above the horizontal support area of $1.20, IMX might experience a 24% growth to the next resistance at $1.60 if it rebounds. Conversely, a daily close below $1.25 could lead to a 20% decline to the nearest support level at $1.

3. NEO: Mainnet Upgrade

• NEO is set to upgrade its mainnet on December 4, bringing several improvements and optimizations. Despite initially breaking above a descending resistance line on October 26, NEO’s price struggled to sustain upward momentum.
• Trading above the horizontal support at $10, NEO could rise by 35% to the resistance area around $14.50 if it bounces. However, a close below $10 might result in a 30% drop to the nearest support at $7.50.

4. MultiversX (EGLD): Governance Proposal

• EGLD stakers are voting on the first governance proposal, with voting ongoing until December 3. Nearly 98% of participants have voted for the Sirius 1.6 protocol update. In October, EGLD rebounded from a long-term descending resistance, reaching a high of $53.45.
• Trading within the horizontal support zone of $43, a resumption of the uptrend could lead to a 45% increase to the next resistance level at $63. Conversely, a close below $43 may result in a 25% drop, retesting the long-term descending resistance.

5. KAVA: Ongoing Developments

• KAVA recently held an AMA on November 29 to discuss upcoming developments. The price of KAVA has been steadily rising since breaking above a descending resistance line on October 20, reaching a peak of $0.87 on November 11.
• Trading above the horizontal support at $0.70, KAVA might experience a 30% growth to the next resistance at $1 if the current trend holds.

These altcoins present various events and factors that could impact their prices in December, making them noteworthy for investors and traders.