In this article, Bitcoin Magazine takes a look at ten cryptocurrencies that showed interesting developments in December that could have a positive effect on their prices.

Binance Coin (BNB)

BNB is the native token of Binance, one of the most popular cryptocurrency exchanges in the world. It is used to pay transaction fees at a lower cost.

BNB has a hard fork called “Bruno“The last day of November. This is the mechanism to burn BNB from transaction fees on Binance Smart Chain, similar to Ethereum’s EIP-1559.

The BNB is moving along a descending resistance line and has been since it hit an all-time high on May 10th. She is currently making her fifth attempt to break out.

If successful, the next resistance areas will be $ 822 and $ 985, the external fib retracement levels of 1.27 and 1.61.

BNB / USDT 12 hour chart | Source: TradingView

Lisk (LSK)

Lisk is a blockchain platform focused on application building. It enables developers to create their own applications. The platform creates an ecosystem of interoperable blockchain applications. To date, many applications have been built on this platform.

An event will be held on December 2nd to announce new developments. The event is called “”Amplifire“.

LSK has risen along with the ascending support line since August, bouncing off this line twice (green symbol), on September 29th and November 19th.

Once it breaks above the $ 3.80 resistance area, it is likely to rise rapidly.

LSK / USDT daily chart | Source: TradingView

Qtum (QTUM)

QTUM is an open source blockchain platform. Its goal is to combine the power of Bitcoin and Ethereum in one. Hence, it uses BTC’s Unspent Transaction Output (UTXO) model while adding smart contracts and decentralized applications.

Batch first halving of QTUM takes place on December 1st. These waves usually have a positive effect on the price of the token.

QTUM has risen out of the USD 14 horizontal support area (green symbol). This area previously acted as resistance and has now turned into support. The token is currently trying to break out via the descending parallel channel.

If successful, it can rebound towards the next resistance area at $ 22.

Daily QTUM / USDT chart | Source: TradingView

Chain link (LINK)

Chainlink is a platform that enables different blockchains to interact securely with one another. This is done via the decentralized Oracle network. In addition, the participants can operate their own nodes in the network.

Bitflier, the leading exchange in Japan, will list Chainlink in December 2021.

However, LINK broke ascending support line and fell to the horizontal support area of ​​USD 22.1 on Nov 28, where it initiated the current rally.

LINK / USDT daily chart | Source: TradingView

AlienWorlds (TLM)

Alien Worlds is a decentralized game in which players compete in an economy of scarce resources. This is a play-to-earn game where players can earn TLM coins.

On December 4th it will be Alien World debut The plots are new.

TLM broke above the horizontal range of $ 0.37 on November 23 and returned two days later to confirm it as support (green symbol). Previously, there had been resistance since the end of July.

If the token continues to rise, the next resistance will be at $ 0.76.

Daily TLM / USDT chart | Source: TradingView

Stack (STX)

Stacks is a project that aims to bring dapps and smart contracts to the Bitcoin blockchain. STX is the native token of the Stacks platform and is used to execute smart contracts.

Upgrade of the main network SIP-012 will be deployed in Block 713,000 on December 6th.

STX hit a new all-time high of $ 3.25 on December 1st. Although the price has fallen since then, it is likely to bounce off the $ 2.50 horizontal support zone (labeled).

This is the resistance area at the previous all-time high and coincides with the previous descending resistance line.

Daily STX / USDT chart | Source: TradingView

Vertcoin (VTC)

Vertcoin is a cryptocurrency created in 2014 and uses a Proof-of-Work (PoW) mechanism. This means that VTC is generated by the mining process.

VTC is supported by the halving on December 8th. The rewards for mining are cut in half, which can be seen as a deflationary measure.

While VTC has been moving along the rising support line since June 22nd, it has not yet initiated a significant rally. The main resistance area is at $ 0.75.

Daily VTC / USDT chart | Source: TradingView

Star (XLM)

XLM is the native token of the Stellar platform. It was created in June 2016 by one of the founders of the Ripple Protocol, Jed Mcaleb.

The purpose of the fund is to provide financial services to underdeveloped areas where there is a lack of financial institutions.

On December 15th, XLM holders will receive Air drop Token AQUA.

XLM has been rising along with an ascending support line since July 20th. More recently, it bounced off this line on November 28th (green symbol).

If it continues to rise, the next resistance will be at $ 0.42. The token has not traded above this level since May.

Daily XLM / USDT chart | Source: TradingView

DOCK (DOCK)

Dock is a platform that enables businesses and developers to create and manage their digital credentials that are verified using blockchain technology. The platform’s native token is DOCK, which is used for payment mechanisms.

December can be DOCK Mark out on exchanges such as Huobi, Binance and KuCoin.

DOCK has also been rising with a rising support line since the end of May, the last time it rebounded from this line on November 19.

The main resistance area is at $ 0.115. Once captured, the DOCK could rise to a new all-time high.

DOCK / USDT daily chart | Source: TradingView

Reserve rights (RSR)

Reserve Rights is a stablecoin platform that uses two tokens, Reserve Stablecoin (RSV) and Reserve Rights (RSR). The RSR is used to hold the price of the RSV coin. In contrast to conventional stablecoins, which are usually backed by US dollars, RSV is tied to a different cryptocurrency.

The reserve protocol mainnet becomes begin before December 31st

On November 29th, the RSR broke a descending resistance line that had existed since August, confirming the correction is complete.

The token is currently attempting a breakout above the USD 0.056 resistance area. Once it does, the rate of increase is expected to accelerate.

Daily RSR / USDT chart | Source: TradingView

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