beincrypto.com
As November begins, many crypto investors are optimistic that the month will bring positive developments. Given this sentiment, it’s crucial to monitor the top trending altcoins in the market.
According to CoinGecko, the leading altcoins trending today include Ethervista (VISTA), Grass (GRASS), and Goatseus Maximus (GOAT). This analysis also reveals why these three cryptos are at the top of the trend table.
Ethervista (VISTA)
VISTA, the native token of decentralized exchange on the Ethereum blockchain Ethervista, is one of the top trending altcoins due to its massive price increase. Over the last seven days, VISTA’s price has increased by 560%, driven by a surge in on-chain activity.
According to Dune Analytics, this notable increase could also be linked to the surge in tokens burned and the increasing number of holders. For instance, in mid-October, the number of VISTA holders was less than 8,000.
As of now, that figure has surpassed 10,000. Additionally, VISTA has burned 3.73% of its total supply, increasing its scarcity and potential value.
Currently, VISTA’s price is $47.38. On the daily chart, the Relative Strength Index (RSI) reading has increased but is also overbought, having surpassed 70.00.
However, the technical setup shows that despite the overbought status, VISTA’s price might not retrace as there is no major resistance ahead. If this remains the same, the altcoin’s value might climb to the highest point of the wick, which is $57.25.
Read more: What Are Altcoins? A Guide to Alternative Cryptocurrencies
On the flip side, if profit-taking rises, the crypto’s value might pull back. In that scenario, it could drop to $37.06.
Grass (GRASS)
For most of the week, the DePIN project Grass has consistently made the list of trending altcoins. Its strong performance since its launch has secured its spot among today’s top trending altcoins.
According to CoinGecko, GRASS’s price has increased by 9.30% and currently trades at $1.13. While the altcoin faces resistance at around $1.13, the 4-hour chart shows that support at $1.01 could help it bounce.
If that happens, GRASS value could jump to $1.25. However, if bears keep forcing rejection around the current price, this might not happen. Instead, the altcoin’s value might drop to $0.99.
Goatseus Maximus (GOAT)
AI-based meme coin Goatseus Maximus has returned to the list of top trending altcoins after being absent for a few days.
However, unlike what investors might expect, GOAT is not trending because of a price increase. Instead, the token’s value has decreased by 5% within the last 24 hours.
As of now, GOAT’s price is $0.54, down 38% from its all-time high. However, the 4-hour chart shows that bulls are aiding in the price recovery, supported by a level at $0.50.
Read more: Which Are the Best Altcoins To Invest in November 2024?
If the bulls maintain their momentum, GOAT’s price could continue to rise, potentially reaching $0.75. But if buying pressure wanes, this prediction might not come to pass. Instead, the price might decrease to $0.47.