Crypto Price Prediction For December 15: SOL, HNT, AAVE – CoinGape

wp header logo 260

Published December 15, 2023
Crypto Price Prediction: The crypto market continues to waver in uncertainty evident from the neutral candle in Bitcoin and several major cryptocurrencies. The worldwide cryptocurrency market capitalization now stands at $1.61 trillion, marking a significant rise of 5.98% in the past day. Over the same period, the aggregate trading volume in the crypto market has surged by an impressive 70.61%, reaching $69.51 billion. Notably, the trading volume within the decentralized finance (DeFi) sector has reached $7.88 billion, accounting for 11.34% of the total market volume over the last 24 hours.
However, it seems the crypto market is currently in a post-rally consolidation or correction which usually assists buyers in recuperating the exhausted bullish momentum for higher recovery. Thus, a selective token Solana(SOL) Helium(HNT), Woo Network(WOO) which should peak performance in the last few weeks has a better potential to resume the recovery trend.
Also Read: SEC Chair’s New Take Leaves More Questions Than Answers
The massive interest in BONK, Solana’s dog-themed crypto, has dramatically boosted sales for the Saga smartphone, previously struggling with poor sales. This phone, designed for secure crypto storage, attracts buyers with a 30 million BONK token airdrop, worth about $700, surpassing the phone’s $599 cost. 
Consequently, Saga’s sales have increased tenfold in 48 hours, with Solana co-founder Raj Gokal predicting a sell-out before the new year. This surge in Saga sales has positively impacted the Solana price.
The Solana price currently trades at $78.1, showcasing a 270% growth in the last two months. This rally can be tracked using a steep trendline which in tandem with rising volume showcases sustainable growth. 
Obtaining dynamic support from the ascending trendline, the Solana coin has breached a significant barrier, which could prolong the recovery trend to $95.6, followed by $110. 
The upsurge in the Bollinger band indicator accentuates the buyers are dominating the asset.
Helium, the 57th largest cryptocurrency in terms of market capitalization, has emerged as one of December’s top performers. This rally appears to be driven by the positive momentum in the Solana price and the progress of Helium Mobile. The recent launch of Helium’s $20/month unlimited nationwide phone plan has added to this upward trend.
In this buoyant environment, the Helium price (HNT) experienced a significant breakout from a 16-month-long Cup and Handle pattern on December 14th, signaling a potential trend reversal and opening up new buying opportunities.
At the time of reporting, the HNT price is trading at $7.87, showcasing a remarkable 187% increase from its monthly low of $2.739. If this trend continues under the current pattern, the altcoin could potentially reach target levels of $10.84 and then $15.74.
The Relative Strength Index (RSI), currently at 82%, indicates that the buying momentum is strong and aggressive.
In November, the AAVE coin price primarily showed a sideways movement, reflecting uncertainty among investors. However, a closer examination of the daily time frame chart suggested that this phase of consolidation was actually forming a bullish continuation pattern known as a pennant.
Starting December 13th, the AAVE price began to gain momentum, bouncing back from the $90 level. This reversal led to a 30% increase in value over three days, culminating in a bullish breakout from the pennant pattern.
At the current moment, AAVE is trading at $114. Influenced by this chart pattern, the coin price is likely to continue its upward trajectory, potentially reaching targets of $131 and then $163.
An upswing in the Average Directional Index slope at 26% indicates the buyers have enough steam to lead the coin’s market value higher.
Published 11 hours ago
Published 13 hours ago
Published 16 hours ago
Published 17 hours ago
Published 18 hours ago
Your daily dose of Market analysis & Price updates.