3 Altcoins to Watch as Bitcoin (BTC) Nears $100,000 Historic Mark

With the last month of 2024 underway, the crypto market is expected to note some significant volatility. Bitcoin is expected to reach the $100,000 historic mark before the end of the year, and this could trigger rallies in all major and minor altcoins.

As 2024 nears its end, the crypto market is poised to experience significant price movements. Bitcoin is widely anticipated to reach the historic milestone of $100,000 before the year concludes, a development that could ignite rallies across major and minor altcoins.

Before such a scenario unfolds, several altcoins are still presenting opportunities for potential gains. BeInCrypto has analyzed three promising altcoins to watch in the coming days.

Stellar (XLM)

Stellar (XLM) might not be the top performer, but it ranks among the altcoins to watch, thanks to the bullish market trends. Its recent price action highlights investor confidence as it follows the broader market’s positive cues. Stellar’s stable performance over time showcases its growing presence within the crypto space.

This week, Stellar validators will vote on the mainnet upgrade to Protocol 22 following successful testing on the testnet. Typically, such upgrades introduce volatility, but this one could spark positive momentum. If the upgrade is implemented successfully, it will likely bolster market confidence and potentially propel XLM prices upward.

Currently trading above the key support level of $0.41, Stellar (XLM) seems poised to continue its upward trajectory. This level has acted as a strong floor, preventing any significant price drops. However, if XLM falls below $0.41, it would weaken the bullish outlook, possibly sending the altcoin down to $0.25.

Yield Guild Game (YGG)

YGG’s price remains capped below the resistance of $0.70, struggling to break through this key barrier. For the altcoin to advance to $0.80, it will need a strong push.

This level has been pivotal, preventing further gains. A breakout above $0.70 could open the door for a rally toward higher targets.

The potential catalyst for YGG’s upward movement could be The Purging Event, which is nearing its conclusion. If this event triggers consistent positive market reactions, it could provide the necessary momentum for the price to break through resistance. Such events often influence price direction, generating bullish sentiment.

If YGG successfully flips the $0.70 resistance into support, it could pave the way for continued price growth. However, any drop below the support level of $0.57 would likely invalidate the bullish thesis.

Banana Gun (BANANA)

BANANA price dropped 9% in the last 24 hours, bringing the altcoin down to $60. This decline reflects market sentiment, but the price still trades above crucial support levels.

The Telegram bot coin is preparing for its monthly token unlock of 250,000 BANANA, which will increase the circulating supply by $15 million. This surge in supply could create volatility, but with strong market cues, it may also provide a boost to the price. The outcome depends largely on market sentiment.

If the market turns bearish, BANANA may drop to the next support level at $55. A loss of this support could signal further declines and potentially invalidate the current bullish outlook.