Crypto Price Prediction For December 24th: Mina, RUNE, DOT

Crypto Price Prediction: As we approach the festive season, there’s growing speculation that the upcoming Christmas holidays might usher in a wave of bullish sentiment within the cryptocurrency market. Amid this optimism, crypto coins like Mina(MINA), Thorchain(RUNE), and Polkadot(DOT) have shown high recovery in the last 24 hours. This rebound suggests their potential for further recovery as the rest of the market starts to gain momentum.

The worldwide cryptocurrency market capitalization now stands at $1.68 trillion, marking a 1.22% rise in the past day. Additionally, the total volume of crypto transactions in the last 24 hours reached $55.45 billion, experiencing a slight increase of 0.09%.

Also Read: Here’s What Happened To Bitcoin & Crypto Market In 2023

Mina Price Analysis: Bullish Pattern Sets for 70% breakout rally

Amid the general bullish sentiment in the crypto market and the formation of a double-bottom pattern, the MINA price has showcased a remarkable recovery in the past two months. From the last swing bottom at $0.35, the coin price has rallied 227% to reach the current trading price of $1.152.

With an intraday gain of 12.5% and a notable surge in trading volume, the current bullish momentum looks sustainable to prolong the recovery trend. Thus, under the influence of the bullish reversal pattern, the MINA price should rise another 8.2% to challenge the neckline resistance at $1.25.

A potential breakout from this overhead resistance will signal better confirmation of trend reversal and new entry opportunities. The post-breakout rally would set the altcoin for 71.4% to hit $2.15. 

The Average Directional Index at 41% reflects the exhausting bullish momentum could trigger a minor pullback before providing a $1.25 breakout 

Thorchain Price Analysis: Is $RUNE Price at Risk of Falling Below $3

On December 3rd, the Thorchain price rally witnessed a sharp reversal from $7.29. This reversal aligned with the broader market uncertainty and led to a sharp 30% downfall to $5. While this week’s bullish upswing managed to reclaim 50% of this loss, the formation of a bullish reversal pattern called head and shoulder hints at an upcoming downfall.

If the coin price manages to revert from the overhead resistance of $6.2 or $6.5 resistance, the sellers could bolster an attempt to challenge the neckline support at $5.1. This possible breakdown could trigger a prolonged correction to $2.68.

However, this correction above the 38.2% Fibonacci retracement level indicates the overall bullish trend is still intact. Thus, if the potential approval of Bitcoin spot ETF in 2024 pours into buying momentum in the market, the RUNE price could attempt a breakout above the $7.3 swing high.

The recently reclaimed 20-and-50-day EMA could offer additional confirmation of uptrend continuation.

Polkadot Price Analysis: Sustained Recovery Sets Next Target of $9.7

The Polkadot coin price entered an aggressive recovery mode in late October when the price rebounded from the $3.5 support. In the last two months, the recovery registered 152% growth to reach the current trading price of $9.

Amid this rally, the coin price witnessed increasing volume and occasional pullbacks indicated a sustained bull run. On December 22nd, the DOT price provided a bullish breakout from a significant swing high of $7.9, indicating better confirmation of trend reversal.

This breakout paves the way for further rally, indicating the DOT price may rise another 7.15% to meet the next resistance at $9.7.

However, this ongoing rally has showcased a repetitive pattern of occasional correction which is gaining suitable support at the 38.2% or 50% Fibonacci retracement level. Thus, in case of an upcoming pullback, the coin holders can use this tool to obtain suitable pullback support.