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Finbold

11/30/2023

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Top 5 altcoins about to explode in the market

Despite a slight slowdown, the cryptocurrency market has been on a roll in the past weeks and months that has seen Bitcoin (BTC) surpass $37,000 and rush further. At the same time, altcoins, i.e.,...

Top 5 altcoins about to explode in the market

Despite a slight slowdown, the cryptocurrency market has been on a roll in the past weeks and months that has seen Bitcoin (BTC) surpass $37,000 and rush further. At the same time, altcoins, i.e., cryptocurrencies other than the maiden digital asset, are also demonstrating strength.

Indeed, the pseudonymous crypto expert Moustache recently identified a possible breakout for altcoins from the Gaussian channel, mimicking the chart pattern from three years ago that started the first big altseason in history, and these five assets could be the ones to stand out in a similar event.

#1 Solana (SOL)

As it happens, the crypto trading analyst Altcoin Sherpa has shared the view that Solana (SOL) might go “to 3 digits in 2024,” despite expecting “some chop between $50-$75 for some amount of time,” as usually, the “price likes to fill out the inefficiency,” the expert said on November 30.

Solana price analysis and prediction. Source: Altcoin Sherpa

For the time being, Solana is currently trading at the price of $59.61, down 1.14% on the day but still holding onto the gain of 3.71% across the previous week and the increase of 64.78% in the last 30 days, as per the most recent chart information.

Solana 30-day price chart. Source: Finbold

#2 Ethereum (ETH)

Furthermore, Ethereum (ETH) could surpass the massively psychologically important price threshold of $3,000 “within the next few months, and there’s nothing you can do about it,” given the current landscape, according to the analysis by Altcoin Sherpa shared in an X post on November 29.

Ethereum price action analysis. Source: Altcoin Sherpa

As things stand, Ethereum is now changing hands at $2,025.33, recording a decline of 0.62% in the last 24 hours and losing 1.34% to its price over the past seven days while retaining an advance of 12.97% accumulated on its monthly chart, according to the latest data.

Ethereum 30-day price chart. Source: Finbold

#3 Dogecoin (DOGE)

Meanwhile, the famous meme crypto Dogecoin (DOGE) is looking at nearly doubling its price to $0.14 in the near future, provided it manages to overcome a major resistance at $0.087, as observed by analyst Ali Martinez, whereas Altcoin Sherpa sees DOGE at $1 “only a matter of time.”

Dogecoin price action analysis. Source: Ali Martinez

Presently, the price of Dogecoin stands at $0.0825, getting rather close to Martinez’s resistance point, having increased by 2.11% over the last day, adding up to the 9.24% gain across the previous week and advancing 20.28% in the last month, as the charts show.

Dogecoin 30-day price chart. Source: Finbold

Furthermore, Altcoin Sherpa has recently suggested taking a start position for Chainlink (LINK) “within the small range of $15-$13,” as there is “a very high % chance this is several times higher 1 year from now,” particularly as whales show increased interest, having bought over $100,000 worth of LINK each.

Chainlink price action analysis. Source: Altcoin Sherpa

At the moment, Chainlink’s native crypto asset is recording a price of $14.437, which represents a decline of 1.30% in the last 24 hours while advancing 0.82% across the previous seven days and recording a more significant growth of 28.51% in the last month.

Chainlink 30-day price chart. Source: Finbold

#5 Cardano (ADA)

Meanwhile, there is still time to invest in Cardano (ADA) as it has been on a consistent upward move for weeks, and Martinez observed that its consolidation trend mirrored that of the 2018-2022 phase, meaning it could break through the $0.45 resistance soon and proceed toward $0.75 by the end of December.

Cardano price action analysis and prediction. Source: Ali Martinez

At press time, Cardano was changing hands at the price of $0.3737, suggesting a loss of 2.07% on the day and a 1.85% decline across the previous week as it still holds onto the 26.65% increase accumulated over the past month, according to the data retrieved by Finbold on November 30.

Cardano 30-day price chart. Source: Finbold

Conclusion

All things considered, the above altcoins are demonstrating significant strength and potential for further, more significant price booms in the future, particularly considering the positive sentiment and developments surrounding them. However, carrying out one’s own research and risk analysis is still important.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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