November has been dominated by all-time highs, spearheaded by the crypto king, Bitcoin. While numerous coins are reaching new peaks, others, though not hitting ATHs, have significant developments on the horizon. These events could potentially spark rallies and notable gains for their native tokens in the coming days.
BeInCrypto has identified three altcoins to watch this week, each poised for upcoming milestones that may drive their performance.
Aptos (APT)
Aptos is currently trading above the critical level of $10.92, aligning with the 61.8% Fibonacci Retracement line, often referred to as the bull market support floor. This level plays a vital role in maintaining the cryptocurrency’s bullish sentiment.
This week marks a significant milestone for Aptos as Bitwise prepares to launch the world’s first Aptos Staking ETP. This exchange-traded product will aim to stake the Aptos held by the fund, potentially driving increased interest and demand, which could lead to a surge in price.
If momentum builds, Aptos could break past the resistance at $14.05, signaling continued growth. However, should the market sentiment shift, a drop below $10.92 could invalidate the bullish outlook, pushing the price toward $9.15 and raising concerns among investors.
Floki (FLOKI)
FLOKI has surged by 128% over the past two weeks, with its price currently trading at $0.0002670. The meme coin’s uptrend could extend further if it successfully breaches the resistance at $0.0002776, setting the stage for continued gains.
The anticipated collaboration between Floki and Animoca Brands’ Forj, set to launch the $MONKY memecoin on November 21, 2024, adds to the bullish sentiment. This initiative, supported by partnerships with ApeCoin and Bored Ape Yacht Club, has created excitement among investors and could fuel additional price increases.
If the momentum from this launch propels FLOKI further, the meme coin may reach $0.0003138. However, losing the key support level at $0.0002568 could lead to a correction, pulling the price down to $0.0002108 and invalidating the current bullish outlook.
Zcash (ZEC)
Zcash (ZEC) has risen by 25.5% in the past four days, currently trading at $46.16. The cryptocurrency aims to breach and flip $46.24 into a support floor, which could enable a rally toward $50.00. Sustaining this momentum is crucial for ZEC’s continued upward trajectory.
The upcoming Network Upgrade 6 (NU6), scheduled for around November 23, is expected to bring significant updates to the Zcash network. This deployment could further fuel bullish sentiment and drive a potential price increase as the market reacts to these developments.
Should ZEC capitalize on this momentum, surpassing $50.00 becomes a strong possibility. However, a drop below the key support level of $40.76 could invalidate the bullish outlook, potentially resulting in a notable correction and losses for investors.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Source: https://beincrypto.com/altcoins-to-watch-in-the-third-week-of-november/