Top Altcoins for November: LINK; PEPE and LUNA Poised for Rally
Post By: CryptosHeadlines.com
In October, we saw a strong recovery in both Bitcoin and many altcoins, marking this trend as ‘Uptober.’ Alongside this, memecoins, like PEPE, saw remarkable growth, with PEPE’s value increasing by over 100%. This prompted individual investors and big holders to accumulate more coins in anticipation of another rise in November.
Despite the altcoin season index being relatively low due to increased activity around the $35,000 Bitcoin mark, altcoins have held their own alongside Bitcoin. The index currently sits at around 16, which indicates that investors are favoring Bitcoin at the moment.
However, when Bitcoin faced a small price dip, altcoins saw significant gains, often rising by over 20% in a single day. With the excitement surrounding the potential launch of a Bitcoin ETF, it’s expected that altcoins will continue to perform well in the coming week, meeting the demands of short-term investors.
Top 3 Altcoins to Watch in November
1. Chainlink (LINK) Price Analysis: Chainlink has faced some resistance around $11.7 as some holders sold off. Currently, LINK is testing a support level to confirm its next move. It’s encouraging that the bulls are holding their ground, showing confidence in the positive trend. If the buyers remain strong, LINK may bounce back to around $19.4 next week. But if there’s a decline, it could consolidate around $7.5.
2. Pepe Coin (PEPE) Price Analysis: Pepe coin recently dropped from a high of $0.0000013, but it’s holding above the $0.0000011 support. The price may test the patience of buyers near this support, and if there are strong purchases during the dip, Pepe coin might make a strong comeback, potentially reaching over $0.0000019. However, if the market falls below the 38.2% Fib channel, indicating that bulls are selling during smaller price drops, the price could turn bearish.
3. Terra Luna (LUNA) Price Analysis: Terra Luna has shown a strong comeback, signaling a bullish momentum with aggressive buying. It recently broke through the immediate resistance at $0.48, although there’s some resistance indicated by extended wicks, suggesting sellers at higher prices. Bears are currently trying to push the price below the $0.43 support. A rebound from this level would indicate a shift toward a bullish sentiment, potentially sending LUNA’s price to $0.5 and then $0.55. On the other hand, a decline below the support may lead to consolidation around $0.4.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.