During the holiday season, cryptocurrency markets, similar to traditional financial markets, often exhibit a bullish tendency as liquidity increases, sentiment turns optimistic, and traders position themselves for a lift at the end of the year. Although holiday-based tokens may see a spike during this period, the focus remains on altcoins with strong momentum.
BeInCrypto has analyzed three such altcoins that may experience a 'Santa' rally during the upcoming week.
MYX Finance (MYX)
MYX Finance announced a potential catalyst after confirming that MYX V2 has been under development for several months. A launch around Christmas or New Year's seems likely. Historically bullish seasonal conditions may increase interest in the market and position MYX for heightened volatility.
The MYX token has maintained an uptrend for over six weeks, showing increasing momentum. With trading around $3.55, the price could break above $3.71 if optimism grows. A successful breakout could lead MYX towards $4.00, which would be the highest level in about two months.
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Technical indicators support the risk of further gains. The relative strength index remains in bullish territory, indicating sustained demand. However, an overbought value could trigger profit-taking.
If selling pressure increases, MYX could retreat towards $3.00 or lower, invalidating the bullish outlook.
Memecore (M)
Memecore has risen 25% in the last week in an attempt to recover from losses at the end of November. The increase reflects better short-term momentum. If buying pressure persists, the altcoin may challenge the $2.00 level, signaling broader gains supported by renewed investor interest.
Technical indicators support this bullish scenario. Parabolic SAR confirms an active uptrend, while holiday events may strengthen demand. Memecore must break the resistance at $1.88 to move above $2.00. A breakout could pave the way towards $2.12 and reinforce the bullish momentum.
Downside risk remains if sentiment turns. Selling pressure could pull M below recent levels and expose the $1.42 support level. A fall in this area would invalidate the bullish outlook and undermine market confidence.
Mantle (MNT)
Mantle has performed better than several major altcoins despite market volatility. MNT is up 15% in the last week, trading near $1.28. The movement shows short-term strength as investors shift capital towards assets that demonstrate relative robustness under uncertain cryptocurrency market conditions.
On-balance volume has increased in recent sessions, showing growing buying interest. This shift could contribute to a bullish reversal or short-term rally. If the momentum continues, MNT may break above $1.34. A successful breakout could open a movement towards $1.50 in the short term.
Risks remain if buying pressure wanes. If MNT fails to break the resistance at $1.34, the uptrend may stall. MNT could consolidate or fall towards $1.30. A break below this level would invalidate the bullish outlook and strengthen a sideways or bearish price movement.
