Even though the entire crypto news section is flooded by news about downward trends in the market, the negative sentiment is not seen in every altcoin out there. Aside from Bitcoin and its constant ups and downs, the mayhem in November also produced some nice movements and right now, we are seeing the first signs of buying at lower levels.
What’s certain is that an uptrend move in short span of time is not exactly a reality we will see soon. However, there are many altcoins that are performing solidly and outperforming their competitors. We are listing them below.
Tron (TRX) has overtaken Ethereum as the most popular decentralized application (DApp) platform in the world right now according to analytics. The founder and CEO, Justin Sun, recently said that the cryptocurrency will add privacy features to its network early next year. The company is also establishing a blockchain gaming fund named TRON Arcade – with an investment of about $100 million in the next 3 years.
The TRX/USD pair hasn’t been able to break out of the 20-week EMA since falling below it in early June. The bears broke below the momentum last week and the cryptocurrency is trying to get closer to the $0.01 mark.
Many see Litecoin (LTC) as a failed experiment – but there are also people who believe that the current drop is a massive buying opportunity and that there could be highs in the future for LTC.
The LTC/USD pair witnessed a massive erosion of wealth over the past few months and is now attempting to break through the $28 level which is not seen since mid-June of last year. Still, there isn’t a noticeable bounce for the altcoin since April of this year.
NEM (XEM) is right now the third best performing cryptocurrency over the past week, rising by about 8%. This shows that many buyers are willing to support the XEM/USD pair at lower levels.
If the bullish action succeeds, it will indicate that NEM (XEM) could rally back to the top of the range, closer to $0.13. The moving averages are also flattening out and the RSI is also climbing, suggesting a consolidation in the near term.
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“We’ve had some bullish moves on ETH, BTC, and altcoins over the last 2 weeks. Is the bear market over? Maybe, the fact of the matter is we are going up. Traders must see PA for what it is and can change bias quickly. If you have been stuck with a bearish lense you are missing out.’’Over the past few months, Bitcoin and the other cryptocurrencies show similar movements. BTC showed weeks of stability but it later plunged by 10 percent. However, the current stability is not a guarantee for improved future performance. The crypto market shows a period of stability for the past couple of weeks. Ethereum made gains during today’s trading session. After the 12 percent surge in the price of ETH, crypto trader DonAlt said:
“Well, this is a proper moon. Not a big liquid spike but rather a nice controlled walk up. Didn’t expect quite this much action into the weekend but I’m not complaining. ETH as the top gainer on BitMEX. Right at resistance here – will be interesting if it can break through or not.”
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