Key Insights
- The top 5 tokens to watch out for in November are BNB, APTOS, LINK, DOGE, and MATIC.
- In terms of fundamentals, BNB is one of the most solid cryptocurrencies in the market.
- Aptos is one of the newest layer 1 smart contract platforms to enter the blockchain and DeFi space.
Octobers, nicknamed “Uptobers,” have been relatively bullish months. This October seemed different initially because many crypto tokens performed poorly and moved sluggishly up or down, if at all they moved.
Most of the traders and investors in the crypto market had given up on October’s bullishness as regards the performance of cryptocurrencies on the market.
However, the latter part of October surprised the world when bitcoin and several other top altcoins started to move to the upside. At the time of writing, most of the cryptos on the market are in greens and are likely to end the month in double-digit percentage gains.
The question remains, “where do we go from here”?
Will November be as profitable as October? If yes, which cryptocurrencies are likely to perform better than others?
This article is about the cryptocurrencies that appear to register the most gains in November.
#1: Binance Coin
In terms of fundamentals, BNB is one of the most solid cryptocurrencies on the market.
Since falling to $185 and making a new yearly low in June, BNB has risen and held its ground compared to several other cryptocurrencies on the market.
The cryptocurrency’s price action has been bullish over the short term and now appears to be pushing up against the $300 – $320 zone.
The bulls on BNB are currently trying to break through these resistance zones and may very well succeed.
November is expected to present multiple opportunities for the price of BNB to test and break these resistances. A breakout from this resistance zone would take the price of BNB straight up to the $450 zone over the medium term, depending on how much strength the bulls manage to show against the bears.
#2: Aptos (APT)
Aptos is one of the newest layer 1 smart contract platforms to enter the blockchain and DeFi space and is led by ex-Meta employees who also worked on the company’s failed Diem stablecoin.
Aptos was launched in October and has had a relatively underwhelming performance in price action since its launch. However, this cryptocurrency seems highly promising, given that it is new. Coupled with that, its NFT market also appears to be booming.
Solana’s NFT scene is also on a rough patch over the last few weeks and has presented a chance to the Aptos space.
Aptos is called the “Solana Killer” and is backed by $350 million in venture capital funds. NFTs on the Aptos network are selling like hot cake with Aptos Monkeys, its top NFT project topping all other NFT projects on Ethereum and Solana in late October regarding trading volume.
The future of Aptos remains to be seen, and the cryptocurrency may be worth keeping an eye out for in November.
#3: Chainlink (LINK)
Since June this year, Chainlink has been bullish from a multi-month perspective.
The cryptocurrency appears to be following an ascending trendline and is headed for higher highs if a break below this trendline doesn’t happen.
After hitting a low of around $5.4 in mid-June, the price of LINK has been in a correction and has been making higher highs ever since.
In October, LINK hit a local low of around $6.7 and began consolidating. However, the bulls have taken charge and have initiated a bounce. November may see LINK rise 30% and retest the $10 resistance.
And if the month proves to be bullish compared to the rest of the year, LINK may even break out from the $10 mark and head for higher highs.
#4: Dogecoin (DOGE)
The end of October was an extremely bullish one for Dogecoin. The dog-themed memecoin performed underwhelmingly over the first three-quarters of the month. However, Dogecoin went completely out of control during the last few days and registered insane gains.
The cryptocurrency broke through the $0.01 resistance and rose by as much as 150% over the last few days of the month. At the time of writing, Dogecoin is now worth more than twice its value at the start of October.
The recent bullishness of Dogecoin may be due to the billionaire and business magnate Elon Musk buying the social media giant Twitter.
According to reports, Musk plans to integrate crypto and blockchain-based payment systems (possibly featuring Dogecoin) on the platform.
Dogecoin now has a 17.8 billion dollar market cap and may be headed for even higher highs in November.
#5: Polygon (MATIC)
MATIC is also one of the strongest cryptocurrencies in terms of price action. The cryptocurrency has been in a symmetric triangle formation since July and appears to be on the verge of a breakout in the coming month.
MATIC appears to be entering a squeeze and will likely break out of this formation in the coming month.
A breakout in either direction partly depends on the general crypto market’s movements, the strength of the bulls against the bears (and vice versa), and the general bullishness of the month.
The RSI on the weekly chart also shows relatively neutral conditions. The MACD line is also above the signal line, indicating that the bulls are currently in market control.
Disclaimer: Voice of crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.
