YEREVAN (CoinChapter.com) — Bitcoin’s (BTC) advance over $36,000 on Nov. 9 sent altcoin traders into a bullish frenzy. The BTC pump was so brilliant that it prompted its top rivaling altcoins, including gaming coins, memecoins, and everything in between, to rally even harder.
CoinChapter has curated the list of five top-performing altcoins that investors must be cautious/excited about today. Let’s dwell.
#1 Mina Altcoin Pumped Over 20%, But…
Zero-knowledge proof protocol MINA jumped 21% to $0.74 in the previous 24 hours, making it the largest winner among the top 100 cryptos by market cap on Nov. 9. The altcoin has been in the limelight since late October, given its valuation has doubled since Oct. 24.
Mina’s gains appeared after listing on the South Korea-based Upbit crypto exchange.
But Beware, Over-Excited MINA Bulls
MINA appears to have formed a “double-top” bearish reversal pattern after its latest price rally. A double top occurs when the asset forms two highs with a decline in between.
The pattern develops when the price reverses toward the level supporting both highs. Meanwhile, it resolves after the price breaks below the support level and falls by as much as the maximum distance between the support and the two highs, as illustrated in MINA’s case below.
MINA hasn’t confirmed the pattern by falling below the support line. However, it rejected the Oct. 24 resistance level again, which makes the target price of $0.39 possible in the coming weeks.
#2 Pepe Altcoin-cum-Memecoin is BACK WITH A BANG
True to the spirit of ‘meme,’ the PEPE coin got investor attention as the crypto market boomed. The token has jumped over 13.5% in the previous 24 hours, reaching $0.00000133 on Nov. 9. But unlike its altcoin rival Mina, Pepe bulls appear not done with the rally.
Notably, PEPE has formed a bull flag, a bullish continuation pattern, recently. That technically qualifies the memecoin for a 25% rally to $0.00000164 by December 2023.
#3 Neo Altcoin Flies Like the Matrix’s NEO
dApp platform Neo enjoyed a 13% uptrend on Nov. 9, reaching $13.9 in the Asian-Pacific session, its highest value since February. In doing so, the altcoin achieved its falling wedge price target and went even above it, as shown below.
As a note of caution, NEO’s price rally may exhaust in November due to its overbought daily relative strength index (RSI) readings.
#4 Gala Token is Looking to Do A NEO
Gaming coin GALA jumped 12.4% to $0.024 in the previous 24 hours, but the bulls are far from done. According to the charts, GALA could see another 60% rally based on a falling wedge, much like NEO.
Gala broke the wedge resistance on Oct. 20 and has risen 84% since, but it still has 60% to go if the bulls want to reach the target price of $0.038.
#5 Aave Altcoin Refreshes 2023 High
Aave coin traded at just under $107 on Nov. 9, after a 12% uptrend in the previous 24 hours. Notably, the altcoin’s jump resulted in its price reaching its highest since August 2022.
Moreover, AAVE printed a ‘golden cross’ between the 100-day exponential moving average (EMA-100; the green wave) and the 200-day EMA (the blue wave).
A golden cross occurs when a short-term EMA crosses above a long-term EMA, signifying the end of a bearish phase.
