beincrypto.com
October was marked by speculation around Bitcoin reaching a new all-time high and meme coins experiencing impressive rallies. Amid this excitement, however, certain altcoins went largely unnoticed.
While the altcoin season is not on the cards right now, talking to BeInCrypto exclusively, Victor Tan, Founder and CEO of TrinityPad, said that some crypto tokens could note a rise.
“While select altcoins with strong utility may still experience growth, the broader altcoin season appears subdued, with investors increasingly focused on established assets. Altcoins are likely to see selective growth driven by specific use cases rather than a broad market rally,” Tan told BeInCrypto.
BeInCrypto has analyzed three of these overlooked tokens that, while they may have been missed in October, hold strong potential for November.
Virtuals Protocol (VIRTUAL)
VIRTUAL became one of October’s top-performing AI tokens, surging by 568% throughout the month. This impressive rally propelled VIRTUAL to a new all-time high of $0.51, capturing significant attention in the altcoin market and highlighting its growth potential among investors.
Despite the uptrend, VIRTUAL has not seen substantial selling pressure, suggesting that its momentum may continue. If the altcoin successfully flips $0.51 into a support level, it could strengthen its upward trajectory.
Read More: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
However, the bullish outlook would be invalidated if investors began selling their VIRTUAL holdings. If VIRTUAL loses the $0.28 support, it risks a substantial drop to $0.13, marking a significant decline. This level would represent a potential reset, impacting market confidence in the token’s growth.
Safe (SAFE)
SAFE recently reached a multi-month high of $1.80, marking a 105% surge. However, the altcoin declined by 22% in the past week, reflecting increased short-term selling pressure. This correction highlights volatility as traders lock in profits, impacting SAFE’s short-term stability.
Despite the drop, SAFE has previously shown resilience by recovering from similar declines. Adding to its growth potential is the recent listing on Upbit, which has sparked renewed interest and may fuel a continued uptrend.
However, SAFE’s bullish outlook could face a setback if it loses the $1.10 support level. Falling below this threshold risks a deeper correction to $0.87, potentially challenging investor confidence. This decline would indicate a shift in sentiment, reinforcing caution among traders.
Turbo (TURBO)
Turbo’s price is showing strong conditions for a parabolic curve trading pattern, suggesting the potential for the altcoin to double after forming a third base and testing it as support. If validated, this pattern often signals accelerated upward movement, positioning Turbo for significant growth in the coming weeks.
Although a complete doubling may not occur, Turbo could see gains similar to those since the pattern began, pointing to a possible 161% rise to $0.0243. This optimistic forecast aligns with Turbo’s current momentum, sparking interest among traders who are anticipating further increases.
Read more: 10 Best Altcoin Exchanges In 2024
Additionally, Turbo’s inclusion in Binance’s Futures Copy Trading platform is a positive indicator. This listing enhances Turbo’s visibility and credibility, but the bullish outlook could be invalidated if investors choose to sell. Such action could push the price below the critical $0.0084 support level, potentially leading to a correction toward $0.0048.