Altcoins will pump hard in November! While Bitcoin (BTC) price is expected to trade sideways

The crypto market is waiting for an altcoin season bull run, as are leading digital assets, including Bitcoin, Ethereum, etc. This year has brought the worst for altcoins, with the most dominant ones trading at the lower end of the price chart.

However, a slight recovery to the upside is possible if the crypto market flows with positive sentiments. According to one analysis, altcoins could pump heavily in November and hit extreme highs on the price chart.

Altcoin Gang Dominates Moonvember!

October was the standout month for the entire crypto space as it pushed the crypto market out of the mud of its ongoing downtrend.

Market-leading assets have shown a promising bounce higher, while altcoins have remained in a consolidated zone awaiting a first pump.

A prominent crypto analyst, Mac, predicts that altcoins could begin their dominance in November as the bullish rally is now led by Dogecoin, while Bitcoin could trade in a sideways range.

TORN Price Analysis:

TORN is currently trading at $6.13 with a 0.7% uptrend. TORN could see a short-term pump in November, the analyst has suggested. According to Mac, TORN has already made an upward move to $9 on liquidity and this price level will not occur again in the near term as TORN could make new lows. However, it can present excellent buying opportunities when a pump occurs on the price chart.

Our technical analysis shows that TORN could see a short-term pump once the RSI-14 trades in a bullish zone at the 48 level. To stage an initial bullish rally, TORN needs to break its EMA-50 line, which is trending at $7.23. Conversely, the bullish analysis could founder if TORN breaks below the Bollinger Band lower border at $4.77.

ChainLink Price Analysis:

ChainLink has already gained quite a bit in the last 24 hours as it is recording a 6% uptrend with a current value of $8.03. Mac mentioned that ChainLink was trading in a range bound range near the weekly 7-SMMA line. LINK price could rise if it surpasses its daily 200-day MA which stands at $9.1.

Looking at the daily chart, ChainLink is up over 22% over the past three days and continues to trade higher. The RSI-14 is trading at the 63 level, which indicates an imminent bullish momentum that could continue. However, it could face rejection above $9 and make a minor downside retracement near its fundamental support level at $7.3.

Algorand Pricing Analysis:

Mac analyzed that Algorand could continue the same price action as ChainLink as it hit multiple lows with a long consolidated range near the weekly 7-SMMA line. To initiate a short-term pump in the price chart, ALGO needs to break its daily 200-day MA line at $0.45.

Algorand is trading at $0.35 with a 1.45% uptrend over the past 24 hours. Our technical analysis suggests that if Algorand breaks its initial resistance level at $0.41 and sustains its price above it, bullish momentum could materialize soon. However, a crash may occur if ALGO breaks below its support level at $0.28.

RUNE Price Analysis:

Mac noted that RUNE could hit the weekly level of 7 SMMA lines, which the majority of altcoins could soon reach. According to him, the larger the gap between the current price level and the weekly SMMA 7-line, the better and more stable the pump in the price chart. He further said that RUNE needs to continue its consolidated range without touching its lows, which would lead to further upside.

RUNE is trading at $1.56, up 0.66% from yesterday’s price. Looking at the daily price chart, RUNE needs to break its price level at $2.9 to start a smooth bull run. The RSI indicator is also supporting RUNE’s current price action as it is trading at the 52 level. However, a price drop is expected if RUNE changes sentiment and heads towards its support level at $1.2.

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