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Cryptocurrencies had a great start to the day, with altcoins like MINA and SOL achieving gains exceeding 20%. The rise continues and investors are beginning to receive the rewards of their approximately 1.5 years of patient waiting. Investors who took advantage of the lows seen this year are now enjoying gains ranging from 5-10x.
Mina Price Target
We may continue to see cryptocurrencies move in the opposite direction of last year’s holiday season. Altcoins that hit bottom levels during the same period in 2022 have now reached 1.5-year highs. There are a total of 13 cryptocurrencies on the Binance exchange that have gained over 20%. In this latest rally, MINA Coin also joined by surpassing the tough $1 resistance.
Following a double bottom formation, MINA’s price has shown a notable recovery in the last two months. We have seen gains exceeding 227% from the last bottom level of $0.35. Due to the bullish reversal formation, the popular altcoin needs to overcome the tough neckline resistance of $1.25. For now, this does not seem impossible.
If MINA Coin can achieve what is expected, we will understand that the trend has reversed and new entry opportunities have emerged. The target is a 71% increase to $2.15. We may see short-term pullbacks in the short term, but for now, the overall direction is upwards.
Thorchain (RUNE) Price Target
On December 3rd, the Thorchain price rally sharply reversed from $7.29. With the general market sentiment deteriorating, RUNE Coin pulled back by 30%, finding its local bottom at $5. Although it made a significant comeback this week, the H/S formation on the chart signals an impending correction. If the price is rejected from the resistance between $6.2 and $6.5, it could pull back to $5.1 and then to $2.68. Although it seems unlikely after ETF approval, these could be the targets when the sell-the-news wave hits.
In the opposite scenario, if the rise continues, the rally could extend to $9.7 after $7.3.
Polkadot (DOT) Price Target
After hitting a low of $3.5 in October, investors were worried about much larger losses. Fortunately, the bottom was there, and those who took advantage of it found a selling opportunity at $9. Today, DOT Coin is experiencing a 15% increase with a price over $9. Amidst this rally, volume is multiplying while increasing demand above $7.9 strengthens hopes for double-digit targets.
If the rally is to continue, the bulls will need to overcome the tough resistance at $9.7. Beyond that, focus can shift to double-digit targets.
