Enjin Coin

Bitcoin ETF

Bitcoin

<p style="text-align: justify"><strong>The cryptocurrency <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">market</a></strong> entered a strong recovery phase in mid-October, with market participants eagerly awaiting the potential approval of the first <a href="http://en.coin-turk.com/the-potential-catalysts-that-could-take-bitcoin-to-all-time-highs-according-to-mark-yusko/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> ETF by the US Securities and Exchange Commission (SEC). This recovery continued in November, with significant growth seen in most major altcoins. As the SEC decision on the ETF approval approaches, the crypto market is expected to remain under significant buying pressure. This exciting anticipation could trigger a bull run in altcoins and offer the best opportunity for those looking to invest in altcoins.</p>
<h2 style="text-align: justify" id="strong-profit-loss-situation-for-bitcoin-investors-strong"><strong>Profit/Loss Situation for Bitcoin Investors</strong></h2>
<p style="text-align: justify">A metric that shows the profitability of Bitcoin (BTC) wallet addresses reveals a significant trend towards profitability among BTC investors. Specifically, the data shows that 81.67% of the 41.05 million Bitcoin wallet addresses, which account for the majority of all investors, are currently in profit, meaning they have unrealized gains. In contrast, only 15.41% of investors, representing 7.75 million wallet addresses, are at a loss with unrealized losses.</p>
<p style="text-align: justify">The fact that the majority of investors are in profit indicates a high level of confidence in the market. We have compiled some of the best altcoins that could potentially experience a major surge in an altcoin rally.</p>
<h2 style="text-align: justify" id="strong-polygon-matic-strong"><strong>Polygon (MATIC)</strong></h2>
<p style="text-align: justify">For approximately two years, the price of <strong>Polygon’s <a href="http://en.coin-turk.com/polygon-network-witnessed-an-insane-surge-in-user-activity-and-transaction-fees/" data-wpel-link="internal" rel="noopener noreferrer nofollow">MATIC</a></strong> has been moving within a symmetrical triangle formation characterized by converging trend lines. The price clearly demonstrated its significant impact by bouncing off the lower trend line four times and pulling back twice from the upper trend line.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-280789" src="https://coin-turk.com/wp-content/uploads/2023/11/MATIC-Altcoin.png" alt="" width="1946" height="1105"></p>
<p style="text-align: justify">Significant investor interest in MATIC at the beginning of November resulted in a strong breakout above the upper trend line. If the price of MATIC remains above $0.69 and the broken upper trend line, it could strengthen buyer support and increase expectations for a recovery.</p>
<p style="text-align: justify">A subsequent retest after the breakout pushed the price of MATIC down to $0.783. However, with ongoing buying pressure, the altcoin’s market value could potentially double, reaching its highest level in February at $1.56.</p>
<h2 style="text-align: justify" id="strong-xrp-xrp-strong"><strong>XRP (XRP)</strong></h2>
<p style="text-align: justify">During the recent market downturn, the price of <strong>XRP</strong> experienced a notable correction, dropping 22.5% from its recent peak of $0.73 to $0.57. However, this correction led to the formation of a flag pattern, a common indicator of an upward trend on the daily chart.</p>
<p style="text-align: justify">XRP investors broke the upper trend line of this pattern on November 22, indicating their readiness for the next rally. Currently trading at $0.62, the price of the altcoin could rise by 35% by targeting the resistance trend line of a long-term triangle formation. A breakout from here could lead to a more significant surge in XRP.</p>
<h2 style="text-align: justify" id="strong-enjin-coin-enj-strong"><strong>Enjin Coin (ENJ)</strong></h2>
<p style="text-align: justify">Looking at the daily chart, it can be observed that the price of <strong>Enjin Coin</strong> is moving within a falling wedge formation. This chart pattern typically reflects a prolonged downward momentum, as commonly seen in a downtrend.</p>
<p style="text-align: justify"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-280787" src="https://coin-turk.com/wp-content/uploads/2023/11/ENJ-Altcoin.png" alt="" width="1946" height="1105"></p>
<p style="text-align: justify">Recently, a reversal from the upper trend line on November 7 resulted in a 20% correction from the $0.27 level. According to this formation, another 25% correction may occur before reaching the lower trend line.</p>
<p style="text-align: justify">If ENJ plays out according to the book, the falling wedge formation could potentially trigger a bullish breakout, testing the resistance trend line and setting targets for a significant price increase. Therefore, a breakout from the upper trend line could lead to a rise in ENJ’s price to $0.567 and then to $0.747.</p>
<h2 style="text-align: justify" id="strong-the-graph-grt-strong"><strong>The Graph (GRT)</strong></h2>
<p style="text-align: justify">For the past seven months, the price of <strong>The Graph’s GRT</strong> has consistently followed the inverse head and shoulders formation commonly seen at market bottoms. GRT is currently trading around $0.15 and shaping the right shoulder of the pattern.</p>
<p style="text-align: justify"><img decoding="async" loading="lazy" class="aligncenter size-full wp-image-280786" src="https://coin-turk.com/wp-content/uploads/2023/11/GRT-Altcoin.png" alt="" width="1946" height="1105"></p>
<p style="text-align: justify">With current data, the altcoin is showing a 10% gain and moving towards a breakout from the neckline resistance around $0.166. If this breakout occurs, a growth of 63.5% from the current price and a rally towards $2.05 could be expected. Additionally, this expected rally in GRT could surpass the recent peak at $0.23, which is a sign of a trend reversal according to the Dow Theory.</p>
<h2 style="text-align: justify" id="strong-apecoin-ape-strong"><strong>Apecoin (APE)</strong></h2>
<p style="text-align: justify">The price of <strong>Apecoin’s APE</strong> has been moving sideways between $1.56 and $1.28 for about a month, forming what appears to be the handle of a cup and handle formation, a pattern commonly seen at market bottoms.</p>
<p style="text-align: justify">With a 2.25% gain during the day, APE is moving towards the neckline resistance of the formation, which is at $1.56. A breakout with positive market sentiment could lead to a 36% increase in the price of APE to $2.10, following the theoretical predictions of the pattern.</p>
<div class="sorumluluk_reddi" style="text-align: justify"><strong>Disclaimer:</strong> The information provided in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and should conduct their own research before making any trades.
</div> Continue Reading: <a href="https://en.coin-turk.com/best-altcoins-to-buy-a-guide-for-crypto-investors/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/best-altcoins-to-buy-a-guide-for-crypto-investors/</a>

Best Altcoins to Buy: A Guide for Crypto Investors

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