Altcoins

Altcoins Poised For Breakout This Week! Note This Entry And Exit Points!

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Highlights

    The total altcoin market cap has claimed a new ATH of $1.598 trillion with incredible growth in the Metaverse, DeFi, and Meme space.

    The star altcoin Ethereum has pinned high hopes on massive price action. However, SHIB, HBAR, LTC, ZIL, and OMG are set to move in pace.

Crypto traders appear to be sitting on the fence awaiting a notable pump in Bitcoin’s price action in the next couple of days. On the other hand, the latest uprising tides in the Metaverse, DeFi, and Meme mania helped to spark the global market cap to an ATH of $2.85 trillion. Notably, the total DeFi market cap claimed a new high of $181 billion, and meme space holds more than 35% of the total altcoin market cap of around $68.45 billion. 

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However, as the total altcoin market cap has been on the brink of a breakout, SHIB, HBAR, LTC, ZIL, and OMG prices expect to swim with the tide. Moreover, a popular crypto analyst Micheal Van De Poppe is optimistic about the breakout of the aforementioned coins. 

Shiba Inu (SHIB) Price Analysis: 

After taking an upward trajectory to $0.00006245 on the 5th of November, SHIB price has taken a bullish divergence to $0.00005465 at the press time. The analyst has mentioned crucial levels for the meme coin, aftermath the latest dip. The chart highlights the altcoin’s performance while under correction and downtrend.

SHIB price may flip between $0.00004375 and $0.000049 if it fails to hold the support above $0.00005751. Further, the analyst expects a potential breakout to smash $0.00005751 if it drops to the bottom of $0.000049. However, if the meme coin manages to consolidate at around $0.00005751, then it would surge to reclaim its previous ATH of around $0.000085 with a short retest at $0.00006275. 

Litecoin (LTC) Price Analysis: 

The Litecoin price has been claiming lower highs over the past two months. While the altcoin approaches close to the crucial resistance, the analyst has come up with a whooping prediction for LTC price. 

The analyst is hopeful of a price surge to $300 in the upcoming bull cycle. The chart highlights the potential price pump to $270 in the short term. Further, the analyst expects the LTC price to quickly retest between $225 to $230 before taking another leg up beyond $300.   

Zilliqa (ZIL) Price Analysis: 

Zilliqa price has been generating higher lows since late September, and currently trading around a crucial resistance zone. The analyst expects the price to retest at a bottom of $0.086 and form a “W” pattern in short term. Further, the potential breakout at $0.12 could uplift the Zilliqa price well above the crucial resistance of $0.17.  

HBAR Price Analysis: 

Hedera Hashgraph has managed to ride in the path of a converging channel reaching $0.37 recently. The analyst Micheal Van De Poppe has mentioned major resistance levels. If altcoin breaks out, he expects HBAR price to surpass an immediate resistance of $0.48 to retest crucial resistance of $0.58. On the flip side, he expects the digital coin to settle at $0.33 for the short term if it fails to hold the above support.   

OMG Price Analysis: 

OMG is one of the prime altcoins which has shown a phenomenal performance since the start of the quarter. The altcoin has recently faced a rejection at $19.74 falling to $17.36. The analyst stressed altcoin’s positive hold above the support of $15.81. Further, break out could uplift the price momentum to $0.0005. 

Collectively, the analyst is also hopeful of Rune, Dent, and RSR coins to move in pace with the aforementioned coins. He has given price targets to glide towards $0.0002318, $0.011499, and $0.00000112 respectively for Rune, Dent, and RSR respectively. While the alt season is on the horizon, above mentioned coins could dominate and higher gains are expected.  

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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