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With one-third of the Q4 already coming to an end, October was surprising as many altcoins managed to chart new all-time highs. However, one token that got away is the leader of the crypto assets, Bitcoin.
This is set to change in November, as BTC stands less than 3% away from a new ATH and these 4 altcoins are likely going to follow its lead.
cat in a dogs world (MEW)
MEW is currently just over 16% away from setting a new all-time high, following an impressive 76% rally in October. This strong performance has solidified MEW’s position as a popular meme coin, drawing significant attention from investors eager for further gains.
The all-time high sits at $0.01173, while MEW trades at $0.01009, maintaining support at $0.00900. As long as this support holds, a 16% increase to reach a new high remains within reach. This stability is crucial for MEW to capitalize on its recent upward momentum.
Read more: What Are Altcoins? A Guide to Alternative Cryptocurrencies
However, losing the $0.00900 support could lead MEW to drop to $0.00769, potentially erasing much of its recent gains. Such a drop would also invalidate the current bullish outlook, signaling a shift in market sentiment for the meme coin.
MANTRA (OM)
OM has become one of the most sought-after crypto tokens thanks to its impressive uptrend throughout October. The altcoin recently achieved a new all-time high (ATH) of $1.62, drawing significant attention from investors. This milestone has positioned OM as a standout asset in the market.
As November approaches, OM has the potential to reclaim its recent gains despite the 15% pullback from its ATH. Holding the critical support level at $1.33 will be essential for a recovery, providing a base for another upward move.
However, if OM fails to maintain the $1.33 support, it risks falling to $1.18. Losing this level would invalidate the current bullish outlook, potentially pushing OM down to $1.04. This decline would challenge positive sentiment, urging caution among traders watching OM’s performance.
SPX6900 (SPX)
SPX has captured attention in the meme coin market, recording an impressive 479% rise since October. This remarkable surge pushed SPX to an all-time high of $1.19, demonstrating significant investor interest and momentum.
To revisit its recent highs, SPX needs to achieve a 25% increase from its current price of $0.95. For this bullish path, stability above the $0.91 support is essential. Maintaining this level would signal resilience and could position SPX for further growth in the meme coin market.
If SPX fails to hold the $0.91 support, a decline toward $0.70, potentially down to $0.56, is likely. This drop would challenge the current bullish outlook, indicating a shift in market sentiment. Such a drawdown could dampen expectations and prompt caution among investors.
BNB
BNB is among the altcoins closest to their all-time high, currently just 19% below the $721 mark. However, reaching this level requires BNB to overcome a significant resistance block between $575 and $619. This resistance level has repeatedly challenged BNB’s upward momentum.
The $575-$619 barrier has prevented BNB from rallying since early June. Should BNB successfully break through this block, it may continue climbing to $686, ultimately pushing toward its all-time high.
Read More: 11 Cryptos To Add To Your Portfolio Before Altcoin Season
However, if BNB fails to breach $619 as in past attempts, it may retreat to $550 or even $520. This setback could delay any new all-time high, dampening bullish hopes and potentially shifting market sentiment.