As the year draws to a close, November is arguably one of the best months for altcoins. This is because October saw some coins reach new all-time highs.
Furthermore, with BTC less than 3% away from a new ATH, altcoins could follow suit and surge in November. BeInCrypto has selected four assets to watch next month.
cat in a dog’s world (MEW)
MEW is currently just over 16% away from setting a new all-time high, following an impressive 76% rally in October. This strong performance has cemented the memecoin’s place on the list of top altcoins for November, attracting significant attention from investors eager for further gains.
The all-time high is $0.01173. MEW is trading at $0.01009, holding support at $0.00900. As long as this support holds, a 16% surge to a new all-time high is within reach. This stability is crucial for the memecoin to capitalize on its recent bullish momentum.
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MEW Price Analysis. Source: TradingView
However, losing the $0.00900 support could see MEW drop to $0.00769, potentially erasing much of its recent gains. Such a drop would also invalidate the current bullish outlook, signaling a shift in market sentiment towards the memecoin.
Mantra (OM)
OM has become one of the most sought-after crypto tokens thanks to its impressive bullish trend throughout October. The altcoin recently reached a new all-time high (ATH) of $1.62, attracting significant investor attention. This milestone has positioned OM as a standout asset in the market.
As November approaches, OM has the potential to reclaim its recent gains despite the 15% retracement from its ATH. Holding the critical support level at $1.33 will be essential for a recovery, providing a foundation for another upward move.
OM Price Analysis. Source: TradingView
However, if the altcoin fails to hold the $1.33 support, it risks falling to $1.18. Losing this level would invalidate the current bullish outlook and could push the asset down to $1.04. Such a decline would challenge the positive sentiment, urging caution among traders following OM’s performance.
SPX6900 (SPX)
SPX has captured the attention of the memecoin market, posting a staggering 479% surge since October. This surge has taken the coin to an all-time high of $1.19, demonstrating significant investor interest and momentum.
To revisit its recent highs, SPX needs to achieve a 25% increase from its current price of $0.95. For this bullish path, stability above the $0.91 support is essential. Holding this level would signal resilience and could position the asset for further growth in the memecoin market.
SPX Price Analysis. Source: TradingView
If SPX fails to hold support at $0.91, a decline to $0.70, potentially as low as $0.56, is likely. Such a decline would challenge the current bullish outlook, indicating a shift in market sentiment. Such a pullback could shake expectations and prompt caution among investors.
BNB
Binance Coin (BNB) is among the closest altcoins to its all-time high, currently just 19% below the $721 mark. However, reaching this level requires BNB to overcome a significant resistance block between $575 and $619. This resistance level has repeatedly challenged bullish momentum.
The $575-$619 block has been preventing the coin from moving higher since early June. Should the asset successfully break out of this block, it could continue to climb to $686, pushing it towards its all-time high.
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BNB Price Analysis. Source: TradingView
However, if BNB fails to surpass $619, as in previous attempts, it could retreat to $550 or even $520. Such a setback could delay any new all-time high, dampening bullish hopes and potentially changing market sentiment.
The article Bitcoin’s Rally Could Make These 4 Altcoins Skyrocket in November appeared first on BeInCrypto Brasil.
