These 5 Altcoins Receive Intense Interest from South Koreans!

The last 30 days in the crypto market have been marked by a short bull run. Bitcoin, the leading cryptocurrency, led the way for altcoins. Greed has begun to dominate investors’ sentiments, with most cryptocurrencies recording huge capital inflows within a month. Meanwhile, South Korean investors show great interest in 5 altcoin projects!

These 5 altcoins are on the radar of South Koreans!

cryptokoin.comAs you can see from , the market is in good spirits. A calm outlook prevails among major cryptos, except for altcoins such as Solana, which broke away from the market over the weekend. However, some cryptocurrencies continue to attract intense interest. 5 altcoins that have experienced an explosion in transaction volume on Upbit, South Korea’s leading crypto exchange, attract attention.

Among these, Avalanche (AVAX), Stellar (XLM), IOTA (IOTA), Civic (CVC) and Polkadot (DOT) stand out. These altcoin projects also showed a significant increase in transaction volumes on Upbit. Civic’s 1-hour average volume increased from 2 million to 7 million, an incredible increase of 356%. IOTA trading volume increased by approximately 182%. AVAX’s trading volume increased by approximately 170%. XML’s transaction volume increased by nearly 132%, while DOT’s transaction volume doubled with an increase of 109.41%.

The flow into the crypto market continues, what’s next?

Notably, TradingView’s leading index (CRYPTOCAP:TOTAL) is up 35%, adding $365 billion in 30 days. The total crypto market cap of $1.024 trillion at the time of writing rapidly increased to $1.392 trillion from October 12 to November 11. Market players are also closely following this indicator, which reflects the total value of Bitcoin and altcoin projects.

However, the Relative Strength Index (RSI) is overbought at 88.29 points on the daily chart. This situation has been going on since October 22, when the RSI exceeded 70 points. Meanwhile, total capitalization has moved $155 billion away from the 30-day exponential moving average (EMA). Essentially, these indicators show that cryptocurrency trading can expect a natural pullback at any time from this point. In this case, it would be beneficial for Bitcoin and altcoin investors to look for important support zones in the market cap index. If these support zones hold, it is possible for the bull market to continue in a healthy way. On the other hand, a break from capitalization supports would threaten a reversal of the downward trend.

Short-term bullish case for crypto total market cap

Interestingly, there is attractive psychological resistance for indexed cryptocurrencies at a total market cap of $1.50 trillion. This is likely to act as a magnet for a continuation of the current movement. Moreover, the analyst nicknamed Crypto Tony attaches importance to the altcoin market closing above the current resistance zone. The analyst said, “Weekly closing above $408 billion Market Cap please. Super important weekly close for bulls.” says.