The crypto market had a strong performance in November as Bitcoin approached $100,000 and ETH crossed the key resistance at $3,500. This rally spotlighted several Ethereum rivals that could experience substantial returns before the year ends. These coins have a combination of strong fundamentals and technicals that could push them higher.
Ethereum Rivals To Watch After Recent ETH Jump
Ethereum price jumped by 70% from its August low. Let us now explore some ETH rivals that could go parabolic in December.
Terra Luna Classic (LUNC)
Terra Luna Classic (LUNC) has bounced back in the past few months. Unlike other coins, its recovery has been relatively gradual. This gradual rebound is a sign that it has moved to the accumulation phase of the Wyckoff Method, which will be followed by a parabolic move.
On top of this LUNC price is in the process of forming a cup and handle chart pattern. This pattern is made up of a rounded bottom and some consolidation or a pullback. In this case, the potential target for Terra Luna Classic price is $0.00002055, which is about 70% above the current level. A move above that level will point to more gains, potentially to its all-time high of $0.00028.
LUNC Price Chart
Fundamentally, this Ethereum rival is burning billions of coins a week, is listed on Binance, and has a high chance of taking part in the meme coin rally.
Aureal One (DLUME)
Aureal One is another Ethereum rival that could generate substantial returns in December. Unlike Terra Luna and the other two coins in this list, this one is in its presale. Each DLUME token is trading at $0.0007 while the listing price is expected to be at $0.005. This means that buying the Aureal One coin today, almost guarantees you a 685% return.
Aureal One’s developers are building a metaverse network with unique features like gaming and interactions with real-world applications. Its top features in the ecosystem are Darklume and Clash of Tiles. It will also use zk-rollups, which ensures higher scalability and low transaction costs.
Aptos (APT)
Aptos, a popular layer-1 network, is an Ethereum rival that can generate substantial returns in the next few weeks. Fundamentally, its DeFi TVL has jumped to over $1.50 billion, helped by Aries Markets, Amnis Finance, and Echo Lending. Its seven-day DEX trading volume has also jumped, a sign that it has a strong utility.
Aptos price has strong technicals that could push it much higher in December. It formed a golden cross chart pattern and a bullish pennant. This pennant is formed when an asset stages a strong parabolic rally and then forms a symmetrical triangle pattern. If it works out, the APT token may jump to $20 and above in the near term. A drop below the psychological point at $10 will invalidate the bullish view.
Aptos Price Chart
VeChain (VET)
VeChain is another ETH rival that is set to go parabolic. On the daily chart, the coin has recently formed a golden cross pattern and is in the process of creating a bullish pennant pattern. Before that, it formed a falling wedge pattern, which is characterized by two falling and converging trendlines.
The bullish pennant means that the coin can jump to the year-to-date high of $0.05500. A break above that level could see VET price jump to $0.1895, its highest level in November 2021 and 365% above the current level.
VeChain price chart
Conclusion On ETH Rivals
Analysts are optimistic that ETH price has more room to rally. However, many ETH rivals will do better than the main coin in the near term. If this happens, coins like VeChain, Aptos, Aureal One, and Terra Luna Classic will be among the top gainers.
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