The ups and downs happen very quickly and sometimes I have trouble following. December was very important to Bitcoin. During the month, the world's largest cryptocurrency has surpassed its all-time high of $ 20,000 and is still looking to break more records every day and is currently heading towards $ 29,000. Needless to say, the wider Altcoin market has also benefited from Bitcoin's success over the month. However, the way forward for most altcoins depends on how well they can sustain their momentum.
WAVES
Waves had a mixed month of December. Prices climbed from $ 8.90 at the beginning of the month to $ 5.43 as they cooled. For over a week, neither the bulls nor the bears have been able to take full control of the market and as a result, prices have consolidated between $ 7.15 and $ 6.20. Indicators show that the market may belong to bears in the short term, but a move in either direction is possible.
Bollinger Bands pointed to a period of low volatility and suggested that EOS could continue trading within its current channel. Overall, the downward trend was emphasized as prices are trading towards the lower band.
The Relative Strength Index was fluctuating in neutral territory, but saw a slight rise and created some optimism about the price progress. If the index moves towards the overbought zone, prices could rise and test the $ 8.13 resistance.
EOS
EOS is still trying to gain momentum after strong selling pressure pushed prices below the $ 2,3995 support. Even though EOS has recovered since then, the month's gains are still at negative 12.48%. Currently, prices are trading in a thin channel of $ 2.67 and $ 2.39. Some indicators suggest that prices may move above this channel if the bulls take control of the market.
The MACD was on a bullish trend horizon as the fast moving line captured the signal line. If prices rise, the $ 2.91 resistance could be the next target for EOS.
Chaikin Money Flow supported the bullish outlook by showing that money was flowing towards the EOS market as the index moved upwards.
Dogecoin
Dogecoin has been relatively quiet on the charts last week as prices continue to consolidate between $ 0.0049 and $ 0.0042. While the prices are still trading within a thin line, an upside break can be expected once the consolidation is complete. If prices rise, resistance at $ 0.005 can be targeted. Similarly, if there is a break in the opposite direction, prices could test support at $ 0.003.
The Awesome Oscillator fell short of giving a definitive answer as prices had a neutral rise. Finally, the dotted marks of the Parabolic SAR were above the candlesticks, suggesting that prices were actually on the rise. For now, the consolidation phase can continue before a break.