As November begins, many crypto investors are optimistic that this month will bring positive developments. Given this sentiment, it is crucial to watch the top trending altcoins in the market. According to CoinGecko, three altcoins stand out among the trending altcoins today. In this analysis, crypto analyst Victor Olanrewaju discusses these three cryptocurrencies.
First ranked altcoin: Ethervista (VISTA)
VISTA is the native token of Ethervista, the decentralized exchange on the Ethereum Blockchain. The token is one of the most trending altcoins due to its massive price growth. Over the last seven days, VISTA’s price has risen by 560% due to an increase in on-chain activity. According to Dune Analytics, this significant increase is also linked to the increase in tokens burned and the increasing number of holders. For example, in mid-October the number of VISTA holders was less than 8,000. As of now, this figure has exceeded 10,000. Additionally, VISTA burned 3.73% of its total supply, increasing its scarcity and potential value.
At the time of writing, VISTA is priced at $47.38. On the daily chart, the Relative Strength Index (RSI) value increased. However, it exceeded 70.00 and reached the overbought level. However, the technical setup suggests that despite the overbought situation, VISTA’s price may not pull back as there is no major resistance ahead. If this situation remains the same, it is possible for the altcoin price to rise to $57.25, the highest point of the wick. On the other hand, if profit taking increases, its value is likely to decrease. In this scenario, there is a drop to $37.06.
Ethervista Daily Analysis. Source: TradingViewGrass (GRASS) ranks second among trends
DePIN project Grass has consistently been on the trending altcoins list for most of the week. Its strong performance since its launch has solidified its place among trending altcoins. According to CoinGecko, the price of GRASS increased by 9.30%. The altcoin was trading at $1.13 at the time of writing. While GRASS faces resistance near $1.13, the 4-hour chart shows that the $1.01 support could help it bounce. If this happens, it is possible for GRASS to jump to $1.25. However, if the bears continue to force rejection around the current price, this probably won’t happen. Instead, the altcoin price is likely to drop to $0.99.
GRASS 4-Hour Analysis. Source: TradingViewLast ranked altcoin: Goatseus Maximus (GOAT)
The AI-based meme coin Goatseus Maximus was missing for a few days. However, it soon returned to the trending altcoins list. However, contrary to what investors expected, GOAT is not trending due to price increase. Instead, the token’s value dropped by 5% in the last 24 hours. As of now, GOAT’s price is at $0.54, down 38% from its ATH level.
However, the 4-hour chart shows that the bulls are aiding the price recovery, supported by a level near $0.50. If the bulls maintain their momentum, it is possible that the altcoin price will continue to rise. Thus, it could potentially reach $0.75. However, if the buying pressure decreases, this prediction will not come true. Instead, a drop in GOAT price to $0.47 is on the table.
Goatseus Maximus 4 Hour Analysis. Source: TradingViewThe opinions and predictions in the article belong to the analyst and are definitely not investment advice. cryptokoin.comWe strongly recommend that you do your own research before investing.
