The cryptocurrency market is still printing a lucrative picture. Bitcoin has stabilized beyond the psychological level of $60,000. Decentraland enjoys explosive action.
At the last meeting in October 2021, the cryptocurrency space continued its healthy price trend. Bitcoin appears strong and stable above $61,000 and the situation appears to have triggered impressive moves in Decentraland (MANA), Aave (AAVE) and Elrond (EGLD).
Since yesterday, the value of the global cryptocurrency market has soared by $40 billion. Financial figures like US Senator Rand Paul believe that BTC will defeat the US dollar as a global reserve currency. He added that the government currency is unreliable and lacks support. As more and more people lose trust in government, BTC has the opportunity to become a leader in the financial sector.
Remember, the US Securities and Exchange Commission (SEC) approved the first US BTC Futures exchange-traded fund starting this month. According to a study by Allied Market, the overall cryptocurrency market value will reach $4.94 billion by 2030. At the same time, JPMorgan Chase reports that rising inflation has driven the recent rebound in BTC and not US-approved ETFs.
Some altcoins that may seek a price increase in November are Decentraland, Aave, and Elrond. Market participants should know that BTC’s breaking of the $70,000 resistance level will trigger a rebound in the entire cryptocurrency market.
EGLD sees resistance at $300.
As of early September 2021, Elrond has recorded attractive price movements in the cryptocurrency space. Altcoins have seen their price soar past the $300 USD mark and soar to all-time highs. Continued strength in the market could support further gains in EGLD. This allows you to target your next goal of $330 or more. However, if the alt falls below the $200 support level, it could be a huge sell signal and move up to the $150 level.
Aave can rise above $400.
Since October, the price of Aave has skyrocketed from US$276 to US$458. At the time of this writing, the altcoin price is hovering around $322. If the $400 resistance level is broken, the next target is $450. However, when it falls below the $250 support level, it is a sell signal.
Decentraland (MANA) is an ETH-based network that allows users to purchase, create and monetize digital reality applications. The price of MANA soared from $0.75 to $1.60 in about two days. In this publication, the altcoin has a trading price of $1.59. It is finding key support at the $1 level and breaking it means a huge sell signal.
Information source: 0x information collected by TOKENHELL. Copyright belongs to the author Alice Brown (Russia), and any unauthorized reproduction is prohibited.