Preparing for major upcoming events is often overlooked by cryptocurrency investors, yet can lead to significant gains. The calendar is clear, and we’ve seen many times how big developments positively impact prices, with rallies gaining momentum as dates approach. But will it happen again?
MultiversX (EGLD) December Predictions
Cryptocurrency markets have experienced firsthand how the price is affected as the date of major developments approaches. Typically, prices rise leading up to the event, often following the “buy the rumor, sell the news” pattern, which then results in a price pullback. Investors must be informed about imminent events to prepare for both scenarios.
MultiversX (EGLD) is currently the fiftieth largest cryptocurrency, with voting still underway for its first protocol governance proposal. The voting, which started 7 days ago, will end on December 3, and we will see the implementation of the Sirius 1.6 Protocol upgrade. As of now, the proposal is passing with 98% support.
On the technical front, the price broke through the long-term trend line and reached a peak of $53.45. It then retreated to the $43 support area and the upward trend is still ongoing. If the rally reignites before December 3, the $63 level could be tested.
In the opposite scenario, if the “sell when the event occurs” motto comes into play and there are closings below $43, a 25% loss could occur.
KAVA Coin Price Analysis
KAVA Coin, the sixty-eighth largest cryptocurrency with a market capitalization of $747 million, will experience a significant event on December 15. KAVA 15 includes surprise enhancements. The price, which broke free from a decreasing trend line 40 days ago, has since increased significantly. The upward movement peaked at $0.87 on November 11.
Despite some pullback, the price is maintaining support at $0.7. If the general market sentiment doesn’t see major disruptions, the psychological resistance of $1 could be targeted. However, if the $0.7 support is lost, losses could deepen to $0.57, amounting to a 25% decrease.
Bitcoin‘s price performance will be extremely important up until mid-December. No serious pressure is expected on the macro front unless negative rumors about the Binance deal emerge. Markets will remain stable unless the MTGOX FUD shakes them or, as rumored these days, a new operation starts targeting stablecoins following the Binance operation.
- Major events can drive crypto profits.
- MultiversX (EGLD) vote influences prices.
- KAVA Coin eyes key December event.
