Dogecoin, Litecoin and Hedera (HBAR) were among the few altcoin projects that took advantage of the crisis in November. The collapse of one of the largest centralized exchanges leads to a change in the top 10 rankings. Analysts are rallying around the seven altcoins that are making their way in this environment.
DOGE price clears critical resistance
Dogecoin has gained 50% since November 21 after briefly testing the $0.07 zone. Its rise is surprising the market as the bulls are able to conquer several resistance zones. DOGE price is currently trading above $0.10. Analyst Tony Montpeirous says that for the long position, the bulls will be positioned at $0.08.
In a more bullish situation, the bulls’ toughest resistance will be at $0.15. This scenario would mean an additional 65% rally from the current zone. While the signals are up for Dogecoin, it’s more complicated for centralized exchange Crypto.com.
Crypto.com price shows consecutive buy signals
Cronos (CRO) is currently trading at $0.06389. Since it dropped 50% at the beginning of the month, it has gradually settled into lower prices. In particular, it closed at $0.066 on November 13, $0.064 on November 21 and $0.0633 on November 28. These three closing dates created a bullish bias on the RSI side. RSI is an indicator used to evaluate the psychology of traders and their potential effects on price. The divergence between all three dates shows that more bulls are holding their positions despite the stair-stepped price action. Analyst Montpeirous says there is a chance for a bounce to the upside, given the CRO’s optimistic moves.
A Fibonacci retracement tool surrounding the steepest downtrend in November shows key Fibonacci levels at $0.077 and $0.085. The key 61.8% Fib level is positioned at $0.093. CRO price reaching this level will mean a 50% bullish rally from its current price.
Note the Litecoin chart this week
Litecoin price surged 75% in November, outpacing almost all altcoin competitors. The bulls are currently busy protecting the $75 zone. Analyst Montpeirous says price action is tied to the $80 resistance in the coming days. This pattern, which will be complemented by Elliott Wave theory, shapes a triangle formation.
Meanwhile, the uptrend’s move to the $80 region is bound to remain unbroken by the First Wave at $64.72. LTC is currently moving strongly towards these upside targets. It gained more than 5% in value compared to the last 24 hours. Its biggest rivals, Cardano and Chainlink, do not offer such a strong outlook.
Altcoin Sherpa awaits next moves for Cardano and Dogecoin
The Twitter analyst says ADA doesn’t look ready for another rally, despite being 90% off from its peak levels. According to the analyst, ADA risks a 41% drop from its current price of $0.31. If this area is broken, the Sherpa says to expect these levels:
If this area breaks, I can’t see any other areas for support up to $0.18. I don’t see a reason to buy it but I know people love it.
Altcoin Sherpa later updated their MATIC analysis: Ready to rise
The analyst says that on broader timeframes, MATIC looks set to rise. He calls the $1.00 level the target or potential resistance level.
Michaël van de Poppe says they show strength in altcoin market for ADA and LINK
In his new analysis, the crypto analyst said that Chainlink “showed strength” in the midst of breaking resistance. Sharing the technical chart below, the analyst determines the following levels:
I would prefer to stay above $7 for continuation and then target $8.50 and/or $9.25.
Van de Poppe also took a look at the price action of Hedera Hashgraph (HBAR). According to the crypto strategist, HBAR is one resistance away from triggering a rally of over 14%. The analyst explains this reason as follows:
This looks the same as the rest of the market. It is facing crucial resistance which, once broken, opens the door to the next area at $0.06.
The cryptocurrency market plunged in November with the bankruptcy of FTX. Meanwhile, Hedera (HBAR) continues to grow independently of its competitors. cryptocoin.com We have explained the reasons in this article.
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