After heavy correction in the last couple of days, Bitcoin and a majority of the altcoins managed to conclude their price up to snuff. The uprising optimistic outlook could be propelling the market into a risk-on sentiment as altcoins with a substantial market cap seek to trigger altcoin season. Notably, Tezos (XTZ), VeChain (VET), and Loopring (LRC) seem to prosper to the new beginnings post the thanksgiving dip.
Tezos (XTZ) :
Tezos (XTZ) price seems to have confirmed the upward movement with a recent intersection of 50 days and 200 days MA. The price has seen a swift move post the massive market correction in the December first week. However, the gradual rise in 50 days MA has given a significant boost to the price action in the past couple of days. The XTZ price is trading at $5.37 with certain fluctuations, however, it would continue to correct up to $4.89. Break out at that point would uplift the price up to $6.9. On the contrary, its price would plummet to the support of $4.39.
VeChain (VET) :
VeChain’s (VET) price has been generating a tad bit higher lows since the start of the quarter. However, the recent price scenario appears to be sluggish, as it is trading below 20-50-200 Days MA. The coin has failed to hold the upper levels, as it has seen equivalent downfall post every run. It would chug up to a high of $0.1712 in case of a surge in buy orders. If it fails to find its pace with the upcoming altcoin season, the asset would plummet to $0.0845.
Loopring (LRC) :
Loopring (LRC) price has been trading at crucial zones, a recent upward move above 50 days MA hints at an optimistic upward momentum ahead. As RSI is well within a bullish territory, the altcoin would stir up to $3.9 in case of a surge in massive buy orders in the next couple of days. As there has been an equal fight between buying and sell orders, the price would plummet to the crucial bottom of $1.26 in case of bearish rule.
Collectively, hopes for the December altcoin season lit up like a Christmas tree. The recent thanksgiving dump by XTZ, VET, and LRC would refurbish the gains in the next couple of weeks. If these altcoins continue to feed the needs of futuristic blockchain technology, the forthcoming trend would balance the upward trajectory for the long term.