Bitcoin and Altcoins Show Bullish Trends in November
In November and early December, Bitcoin (BTC) and several other altcoins experienced significant increases, with BTC reaching a new yearly high on December 5. This article focuses on lesser-known altcoins ranked between 150 and 350 in market capitalization that are exhibiting bullish patterns, potentially offering profitable opportunities in the coming month.
PAAL AI Begins a Bullish Cycle
The price of PAAL has been steadily increasing since September 15, culminating in a new all-time high of $0.22 on November 20. The upward movement suggests the start of a new bullish trend. However, there was a bearish divergence indicated by the Relative Strength Index (RSI) from October to the all-time high. This divergence often leads to significant corrections, which occurred with PAAL as it fell by 50%. The altcoin has since validated a support level at the 0.5 Fib retracement and is attempting to break out from a horizontal resistance area at $0.16.
DENT Breaks Out from Long-Term Resistance
DENT has been under a descending resistance trend line since March 2021 but recently broke out after multiple failed attempts. This breakout from a long-term structure often precedes significant upward movements. The weekly RSI supports this breakout as it is above 50 and increasing. If DENT continues to rise, the next resistance level will be at $0.0022.
SuperVerse Concludes Hidden Gem Altcoins
SuperVerse (SUPER) experienced a long-term decrease under a descending resistance trend line until October when it created eight successive bullish weekly candlesticks, resulting in a breakout from the trend line. The RSI also supports this breakout as it is above 50 and increasing. Currently, SUPER is trading within a horizontal resistance area at $0.60, and if it breaks out, the price could increase by another 200% to reach the next resistance at $1.75.
Hot Take: Altcoins Present Promising Opportunities
While Bitcoin and several prominent altcoins have shown bullish trends, lesser-known altcoins like PAAL, DENT, and SUPER are also exhibiting bullish patterns that could lead to substantial profits in December. However, it’s important to consider potential risks and market conditions before making any investment decisions.
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