Three Altcoins with Parabolic Rallies to Watch Out for

4:49 pm (19 days ago)

November 10, 2023

Crypto markets continue to attract attention as the price of Bitcoin (BTC) continues to rise. November has started off well, with the king of cryptocurrencies aiming for $38,000. However, it faced significant selling pressure in the resistance zone yesterday. Nevertheless, the price crossing above $37,000 keeps hopes alive. In this period, three lesser-known altcoins could potentially make parabolic rallies.

PENDLE Coin

At the top of the list is PENDLE Coin, which has rapidly increased in price since August, reaching $1.23. The $1 resistance area, which has remained intact since September, has now been surpassed. Although PENDLE has previously moved above this level, it has never achieved a weekly close above it. If the critical area can be maintained, a larger period of upward movement may begin.

If the price continues to rise, the next resistance level is at $2.07, which is more than 80% above the current price. The target is given by the 1.61 external Fib retracement of the previous decline and forms the all-time high. In a reverse scenario, we could see a drop to $0.6 with closures below $1.

Bancor (BNT) Price Prediction

The $0.65 horizontal resistance area has been challenging for investors since May 2022. This week, the breached resistance brought the yearly high of $0.84. The weekly RSI supports the continuation of the uptrend. Popular crypto analyst HBJ Trades said that the current outlook is preparing for a parabolic rally and wrote that there could be a 250% increase if the breakout is maintained. If this becomes a reality, we could see the price reach $2.7.

In a bearish scenario, Bancor Coin could experience a pullback towards the strong support level at $0.5 with closures below $0.65.

Radiant Capital (RDNT)

The price, which dropped to $0.19 on September 11, had fallen below the trendline on April 15. This long downtrend period ended on October 25, and the altcoin that broke free from the trendline reached a peak of $0.3. Crypto analyst SherlockWhale expects the uptrend to continue up to $0.36. However, if the momentum is lost, we may see a drop to the support area at $0.22.

Disclaimer: The information in this article does not constitute investment advice. Investors should be aware of the high volatility and associated risks of cryptocurrencies and should conduct their own research before making any transactions.

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