While the Bitcoin market cap has been attempting to hit $1.5 trillion, the total altcoin market cap stands toe-to-toe against it by holding $1.65 trillion. The majority of the altcoins across the space have claimed new highs in their recent bull cycle. This time altseason appears to be spreading across different sections of the space. Notably, the Memecoins, Metaverse, and Gaming tokens have experienced massive growth.
With a rise in dominance of the star crypto, prime altcoins such as XRP, DOT, and AVAX have experienced a slightly negative gain of 2.62%, 1%, and 3.62% over the past 24 hours. On the other hand, VET, LRC, and LTC turned the tide with incredible gains. Yet these aforementioned coins appear to be holding the tank full of gas for another race.
VeChain (VET) Price Analysis:
VeChain has been moving at a rapid speed with short breathers. Especially, VET price has maintained a steady upward trajectory since the start of the Q4 rising by more than 100%. The latest announcement by the community officials on the launch of Proof-of-Authority 2.0 scheduled for November 16th seems to be acting as a catalyst for the recent price action.
After facing rejection at $0.1539 in late September, the VET price has successfully broken out from that level post the latest announcement. Currently, the price has been trading around $0.1825 close to the immediate resistance line of $0.1867. As the altcoin has been moving by generating higher lows every couple of days, it would soon break out from $0.1886 to reclaim the previous ATH in the current run.
Loopring (LRC) Price Analysis:
Loopring has witnessed a historical move replicating the bull pattern of 2018. The altcoin is an inch close to entering the discovery mode as it stands close to the previous ATH of $2.11. As the ecosystem is hopeful of its collaboration with reputed gaming firms, it would soon surge by another 15 to 20%.
In addition, the latest report from Santiment has highlighted the same, it pointed out the rising interest towards the altcoin. The report further revealed the surge in the discussion rate of the asset by 16.4%, which indicates the largest spike of all time. With ever-rising social sentiment and trading volume, LRC possesses the solid potential to clinch new highs.
Litecoin (LTC) Price Analysis:
Bitcoin’s brother Litecoin has finally decoupled from the prolonged bearish trap. The ongoing month has been phenomenal for LTC price as it has broken out from the crucial resistance of $199.32. With the latest move, the price of the coin stands at $248.86 with a 166.7% surge in the trading volume in 24 hours.
Moreover, analytics from the Santiment highlights surge in the circulations of the unique addresses outpowering the Ethereum network. The platform is further hopeful of Litecoin to continue the momentum. Interestingly, in the September run as well the asset has dethroned Ethereum prior to claiming another high. At present the altcoin is pumping hard, if it manages to carry forward the momentum then LTC would break at immediate resistance around $300 to claim new ATH.
Collectively, as the global market cap is on the brink of a massive breakout, the aforementioned coins possess the solid potential to move in pace with it. However, traders are expected to trade by keeping in mind the bottom support to avoid the probable loss.