During the holiday season, the cryptocurrency markets, just like traditional financial markets, often lean towards the bulls when liquidity improves, the mood turns optimistic, and traders prepare for the year-end sprint. While Christmas-themed tokens may experience a spike during this time, attention focuses on altcoins with strong trends.
BeInCrypto has analyzed three such altcoins that may face a 'Santa Claus' price rally next week.
MYX Finance (MYX)
MYX Finance communicated a potential catalyst by confirming that the development of MYX V2 has been ongoing for several months. A release around Christmas or New Year's seems likely. Traditionally, bullish seasonal conditions can enhance market interest and increase MYX's volatility.
The MYX token has remained in an upward trend for over six weeks, reflecting improved sentiment. The coin price is around $3.55 and may exceed $3.71 if optimism grows. A successful breakthrough could push MYX towards $4.00, which would be the highest level in about two months.
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Technical indicators support upward potential. The relative strength index remains in a bullish area, indicating steady demand. However, an overbought reading could lead to profit-taking.
If selling pressure increases, MYX could drop towards $3.00 or below, nullifying the bullish outlook.
Memecore (M)
Memecore has risen 25% over the past week in an attempt to recover losses from the end of November. The recovery indicates improved short-term sentiment. If buying pressure continues, the altcoin could test the $2.00 level, suggesting a broader recovery phase supported by growing investor interest.
Technical indicators support a bullish scenario. The Parabolic SAR confirms an active upward trend, and ongoing holiday events may increase demand. The Memecore coin needs to break the $1.88 resistance level to surpass $2.00. A breakthrough could open the path to $2.12 and reinforce bullish sentiment.
Downward pressure increases if sentiment changes. Selling power could push M below recent levels, exposing the $1.42 support level. A decline in this area would nullify the bullish outlook and weaken market confidence.
Mantle (MNT)
Mantle has performed better than several large altcoins despite broader market volatility. MNT has risen 15% over the past week, and its price is around $1.28. This indicates short-term strength as investors shift to assets that show relative resilience in uncertain crypto markets.
On-balance volume has increased in recent days, indicating growing buying interest. This reversal could support a bullish recovery or a short-term price rally. If sentiment remains strong, MNT could rise above $1.34. A successful breakthrough could lead towards $1.50 in the near future.
Risks increase if buying interest decreases. If the $1.34 resistance level is not broken, the price rally may stall. MNT could consolidate or drop towards $1.30. A decline below this level would nullify the bullish outlook and increase the likelihood of horizontal or downward price movement.
