DOT, ATOM, CRV, LINK, GRT are the names to look at in the coming weeks
The strategist Michaël van de Poppe names five altcoins that should be observed in November.
In a new strategy meeting, van de Poppe said that the first project he has in mind is the interoperable blockchain Polkadot. According to him, Polkadot is in an uptrend versus Bitcoin (DOT / BTC) as the pair continues to print higher highs and higher lows on the daily chart.
“As long as the DOT stays above 0.00056 BTC ($ 33.83), I think the price will continue to swing there until it can flip the high of 0.00085 BTC ($ 51.34) and create new highs.”
Using the Fib extension tool, Van de Poppe said the target for the DOT / BTC spike is around 0.001 BTC ($ 60.4).
Next comes Cosmos, a project that aims to become the “Internet of Blockchains”. Strategist highlights three potential entry points for ATOM / BTC.
“You can participate from 0.00056 BTC to 0.00058 BTC ($ 33.83 – $ 35.03). For me, 0.00052 BTC ($ 31.41) is the next and last stop at 0.0045 BTC ($ 27.18).
Another coin on traders’ radar is Curve (CRV), the governance token of the stablecoin-focused decentralized exchange Curve Finance. According to Van de Poppe, Curve has been trading in a wide range from 0.000036 BTC to 0.000086 BTC ($ 2.17 – $ 5.19) for almost a year.
However, the trader says that a breakout of the range will trigger a large rally towards the 0.00022 BTC target ($ 13.29).
The fourth altcoin on the list is the decentralized oracle network Chainlink, which Van de Poppe claims to be still interested in, although he has undergone a deep correction compared to Bitcoin (LINK / BTC).
“Given the severe correction that Chainlink is still suffering from this year and still not showing too much strength and DeFi is likely to wake up, this offers a great opportunity.”
Finally, there is The Graph, a blockchain data organization and indexing platform. Van de Poppe said the altcoin could bottom against Bitcoin (GRT / BTC) if it holds the immediate support at 0.00013 BTC ($ 0.79).
“GRT is looking for higher ground here and if that happens the whole trend will be reversed.”
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According to Dailyhodl