Top 5 Altcoins to Watch in November 2022: Cryptocurrency markets can be daunting sometimes. Currently, crypto-winter is in full swing. But that doesn’t mean that you can’t make some money in the market. If you’re an experienced player in the market, these are the top altcoins that you should watch in November 2022. Let’s have a look at their value proposition:
1. Ethereum Price Prediction for November 2022
Since October 23, the price of Ethereum has increased. A downward parallel channel that had been in existence since August 14 was broken by ETH two days later. A breakout from such a long-term structure typically results in a steady increase in the price of ETH.
Furthermore, the breakout is supported by technical analysis indicators. The daily RSI has also risen over 50 and escaped from its downward resistance line (green). These two indicators point to optimistic developments.
Currently, $1,713 is where most of the ETH price’s resistance lies. The rate of rise might significantly accelerate and take ETH well past $2,000. On the other hand, a daily closing below the $1,270 support level, would render the bullish ETH price forecast meaningless. The alt coin may hit a new annual low if that happens.
Also Read: Altcoins To Watch Out For This Week; Expert Drops This List
2. Filecoin Price to Watch in November 2022
Another top 5 altcoin to keep an eye on in November 2022 is FIL. Since August 1, the price of Filecoin has been falling below a declining resistance line. The decline resulted in a low of $4.73 on October 13.
The daily RSI has been producing a positive divergence since the beginning of September. The price of Filecoin moved upward as a result of the divergence, breaking away from the line on October 22. Since then, it has been rising. The price of FIL would encounter a significant barrier at $6.50 if the upward trend persists.
Above $6.50, there is not much resistance. As a result, if Filecoin’s price succeeds in breaking through, it may rise as high as $11.20. Given that the breakout started at a low of $4.73, a decline below that price would invalidate the breakout and push the cryptocurrency to new historic lows.
3. Chiliz Price to Watch in November 2022
Since October 13, the CHZ price has been climbing upward, confirming the $0.16 support region. Soon after, the price of Chiliz broke out from the declining resistance line and has since climbed as high as $0.21.
The positive turnaround has not yet been verified, though. This is because the daily RSI is below 50 and has not yet crossed its bearish divergence trendline (green).
4. Quant Price Prediction for November 2022
On October 15, the price of QNT broke out of an upward parallel channel, and two days later it reached a high of $228. Since then, the price of Quant has been declining in what appears to be a fourth-wave downturn.
The midpoint of the ascending channel, at $160 (red circle), represents the level where the correction is most likely to be concluded. Following the pullback, it would be plausible for another upward surge to push the QNT price beyond $230.
Also Read: After Dogecoin, This Altcoin Shoots With Major Decoupling from Rest of Crypto
5. Merit Circle Price Prediction for November 2022
Since June 6, the MC price has been falling beneath a downward resistance line. On October 23, the MC price was able to finally break out when the daily RSI produced a positive divergence. After that, it started to rise quite quickly, but it couldn’t keep going.
The daily RSI is presently much over 50, supporting the price of Merit Circle’s continued upward rise. $1.18 is the nearest point of resistance. Due to the absence of overhead opposition, if MC Price is successful in moving above it, it could grow quickly all the way to $1.95.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
