- ADA, SUI, DOT, HBAR, and UNI could see significant gains during the Santa Claus Rally.
- Cardano’s ADA finds support at $0.8, eyeing a bullish move toward the $1.3 resistance level.
- Polkadot’s focus on blockchain interoperability makes it a strong contender for future growth.
Some cryptocurrencies can take advantage of the traditional Santa Claus Rally in the last month of the year for a price increase. Coins like ADA, SUI, DOT, HBAR, and UNI are being highlighted as tokens with potential for major price appreciation in the rally. This is because of positive market conditions and increased investor confidence.
The Santa Claus Rally is known to rely on elements such as the holiday effect, low trading volume, and market rumors. Some of these tokens have gained attention this year because of the technical improvements in the crypto market and upward movement.
Cardano (ADA)
The ADA token has been under selling pressure in the last few days following a failure to overcome the $1.3 barrier. This led to a freefall of ADA’s price, but the coin has found support at the $0.8 level. The range from $0.8 to $1.3 has been established as a major area of interest. Investors will be keen as a bull rally towards the $1.3 is expected if buyers stand their ground at the $0.8 level. As of press time, ADA is trading at $0.8952, showing a 1.80% decline over the past day.
SUI
SUI, a relatively new cryptocurrency in the market, has recently been making headlines with its price fluctuations. In mid-December, SUI broke below the 20-day EMA and found support at the 50-day SMA, a signal of buying pressure at the lower levels. SUI continues to trade under bearish pressures and fails to find footing to rise. A powerful upward movement may unfold once the price climbs over $5. The first target would be $5.50, while $6.50 could be a more distant goal.
Polkadot’s (DOT)
One of the cryptocurrencies that has gained much attention in the market is Polkadot (DOT), which Gavin Wood, a co-founder of Ethereum, developed. Polkadot emphasizes integrating various blockchains to work in sync, making it a hub for dApps. Its governance, staking, and bonding utility are essential in the DOT protocol for decentralization and security. As the adoption of blockchain technology increases, Polkadot’s scalability and innovation ability make it a promising asset. As of press time, DOT is at $6.98 and has presented a 1.21% decline in the last 24 hours.
HBAR
HBAR, Hedera’s native token, has seen great growth in adoption through collaboration across various industries. This trend of increased application of HBAR’s quick and reliable blockchain network makes it ideal for the Santa Claus Rally. As of press time, HBAR is worth $0.2773, down by 5.56% from the day prior.
UNI
Likewise, UNI, a decentralized exchange token for Uniswap, gains value from investors’ sustained interest in the decentralized trading platform as more people prefer trading without relying on middlemen. As of press time, UNI is trading at $13.83 with a 24-hour change of down 2.26%.
Bitcoin Holds $92K; ADA and Altcoins Struggle in Market DipAt the end of the year, these five tokens, ADA, SUI, DOT, HBAR, and UNI, may outperform the market due to the positive sentiments in the Santa Claus Rally. Investors and traders are likely to keep a keen eye on their progress in the last quarter of the year as these tokens seek to capitalize on the end-of-year rally.
