With the increase in <a href=”https://en.coin-turk.com/bitcoin-buyers-finally-take-the-stage-hidden-clue-in-market-trading-ratio/”>Bitcoin price, many altcoins have gained significant value. However, they can also drop at the same pace. Three altcoins, in particular, are worth paying attention to. The emerging bearish setups could wipe out the gains of these altcoins. Buying and selling something during bull and bear seasons always leads to regrets. So, who could regret in November?
eCash (XEC) Review
There will be an important development on November 15th. The network upgrade that increases the block reward will raise the miner fund block reward from 8% to 32%. A 10% stake reward is also coming. The XEC price is above the $0.00003 horizontal range, and if the price continues to rise, $0.000042 could be a reasonable target. However, closings below the horizontal support area could result in a 28% loss.
Considering the increase in crypto inflation, the risk of the negative scenario occurring is high.
Hedera (HBAR) Review
On November 14th, an event on decentralized business solutions will be organized by Hedera and Object Computing. The HBAR price is at the $0.057 resistance area, and a breakout to the upside could bring a 30% increase. However, if the event does not meet expectations, a drop to the $0.047 support area is expected.
The Graph (GRT) Review
As the 46th largest cryptocurrency by market cap, GRT Coin had a good opportunity for growth a few months ago. Although it may not be bearish this month, it can be considered among the altcoins expected to increase in volatility. GRT Coin is currently trading at $0.136.
There have been rumors circulating that a major announcement will be made on November 7th. The team will also host an event focusing on web3 data innovations on November 13th. Under normal circumstances, GRT Coin should have benefited from the ongoing RWA enthusiasm but did not take advantage as expected.
The GRT price broke out of a declining resistance trend line on October 25th and is currently near the $0.135 resistance area. If we see an upward breakout, a rally to $0.17 could be possible. On the other hand, a 30% drop towards $0.1 would not be surprising in the opposite scenario.
At the time of writing, BTC is at $34,940, and in a possible pullback, it is expected to test resistance levels at $33,900 and $31,800 before bouncing back. If it fails to do so, it could drop below $30,000 for a deeper dip.
Disclaimer: The information in this article does not constitute investment advice. Investors should be aware of the high volatility and therefore risk of cryptocurrencies and should conduct their transactions based on their own research.
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