3 Altcoins to Watch in the Fourth Week of November 2024

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As an analyst with over two decades of experience in the financial markets, I have seen numerous trends come and go, but the recent performance of altcoins like GOAT, SUI, and POPCAT has caught my attention.

Alternative cryptocurrencies such as GOAT, SUI, and POPCAT have seen significant changes in their momentum after reaching their highest points. Specifically, GOAT, that reached a record high of $1.37, has dropped by 25.42% in the last week, causing it to drop out of the top 10 meme coin rankings.

Following a drop of 7.56%, SUI now sits below the $10 billion market cap and is being outperformed by cryptocurrencies like Bitcoin Cash and Chainlink. On the other hand, POPCAT has plummeted by 21.00% from its peak at $2.08, indicating a possible continuation of downward corrections as bearish patterns start to show in its technical analysis.

GOAT

The cost of GOAT (Gabriel Oak Token) has experienced a substantial drop, decreasing by approximately 25.42% over the past week and falling below its billion-dollar market capitalization. Following its peak price of $1.37 on November 17, the digital currency’s upward trend has slowed down significantly.

Initially holding a place within the top 10 cryptocurrencies classified as meme coins based on market capitalization, it has since slipped to 12th position, with both MOG and MEW surpassing it in rank.

Should positive market momentum resume, the GOAT might challenge its resistance level at around $1.23, with a possibility to outperform its past peak of $1.37. Yet, the Exponential Moving Average trends suggest a persistent bearish trend.

If we don’t see a change in trend, I anticipate the value of the coin may challenge its support at $0.69. In the event this support doesn’t hold firm, there’s potential for the price to drop to around $0.419.

SUI

On November 17, SUI reached an unprecedented peak of $3.94, however, it has since started to decrease, experiencing a drop of approximately 7.56% during the last seven days.

The altcoin recently dropped below a $10 billion market cap, slipping behind other rising altcoins like Bitcoin Cash (BCH) and Chainlink (LINK). The coin recently faced a two-hour outage, but its price didn’t fall as much as many expected, staying above $3.

The moving average lines indicate that Swiss Industrial (SUI) is currently experiencing a downward trend. In the short term, these lines are approaching a point where they may cross below the long-term ones, which is a bearish sign. If this trend persists, SUI could encounter support at $3.09. However, if this level doesn’t hold, there might be a further drop to approximately $2.2.

As an analyst, I find myself optimistic about the potential growth of SUI. With fresh bullish energy, it might surpass its historical peak at $3.94 and even aim for $4. This could mark a significant milestone in its market capitalization, potentially taking it to $11.5 billion for the first time.

POPCAT

As a researcher, I’ve noticed that POPCAT hit its peak at $2.08 approximately a week ago, but since then, it has experienced a significant drop, decreasing by about 21.00% over the past seven days.

The recent decrease in price is supported by negative market indicators. Specifically, the shorter-term moving averages have dipped beneath the longer ones, creating what’s known as a “death cross.” This chart pattern often indicates increasing selling activity and the possibility of additional declines ahead.

If the ongoing corrections persist, there’s a potential for POPCAT to evaluate its support around $1.17. If this support doesn’t hold, it could lead to a dip as low as $0.9.

As a crypto investor, I’m keeping an eye on POPCAT. A shift in trend might push its price up towards $1.82. If that resistance level gives way, we could see it reach the $2 mark again, possibly establishing a new all-time high.

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2024-11-25 22:39