YEREVAN (CoinChapter.com) — The crypto market was back with a bang, adding over $100 billion to its overall valuation on Nov. 15, but corrected the next day, partially paring its gains. Here are the top 5 altcoins that stood out with their green candles despite the intraday drop.
#1 Kaspa (KAS) jumps 25%
Kaspa (KAS) made the largest 25% leap among the top 50 cryptos and reached a record high of $0.13 on Nov. 16. As a result, Kaspa coin’s monthly gains stood at over 200%.
Moreover, the trading volumes soared with the price, confirming the high demand. While the volume alone does not indicate traders’ bias, active trading, paired with a surging price could indicate that the bulls are not done yet, and could push the coin to another leg up.
#2 Avalanche (AVAX) takes second place with 13% uptrend
Avalanche (AVAX) soared 13% on Nov. 16 to just under $23, the highest price since August 2022. Meanwhile, during the crypto uptrend, AVAX conquered a significant resistance line that hindered the coin’s rallies since May 2022.
If the rally continues, AVAX could reach its former resistance at $30, which would constitute a 35% uptrend for the coin. The heightened development activity and developers’ count on the blockchain testify to a possible bullish continuation.
#3 THORChain (RUNE) jumps 11%
THORChain’s RUNE token jumped 11% on Nov 16, bringing its gains since Oct. 20 to over 330%, following Grayscale’s re-filed application for a spot Bitcoin ETF.
Notably, according to CoinMarketCap, the coin’s trading volume surged in the previous months, and RUNE outperformed all leading altcoins in the previous 90 days.
#4 Dogecoin (DOGE) daily uptick at 7%
As a true memecoin, Dogecoin (DOGE) fed off the overall hype on the market and jumped 7% in the previous 24 hours, reaching $0.077.
Moreover, DOGE broke out of a technical setup known as the “falling wedge.” The latter features two converging trendlines and takes the token price lower as the formation progresses. The falling wedge is a bullish reversal pattern that forecasts a move equal to the maximum wedge height.
In Dogecoin’s case, technicals pin the target DOGE price at $0.11, or 50% higher than the current value.
#5 Cardano (ADA) added 5% to its valuation
Cardano (ADA), the last top-50 coin on the list, jumped 5% to $0.38 on Nov. 16, bringing its overall gains since Oct. 20 to 60%.
ADA jumped less compared to other coins on the list. However, according to the latest CoinShares report, Cardano was among 5 cryptos investors favored, as it saw an inflow of $8 million year-to-date. Conversely, Ethereum (ETH), Cardano’s biggest competitor, experienced a year-to-date outflow of $58 million in the same period.