Altcoin season: 5 cryptos about to explode

The crypto market has seen tremendous growth over the past two weeks. In turn, this increase has spawned a significantly more bullish outlook for the market, fueling hopes for an upcoming altcoin season.

The famous trader @MacnBTC has compiled a list of 15 altcoins that exhibit bullish-looking charts. Among them, Litentry (LIT), Litecoin (LTC), Basic Attention Token (BAT), SushiSwap (SUSHI), and Theta Token (THETA) seem set to lead the potential “altcoin season”.

LIT price crosses resistance after forming a bullish pattern

Between May and September, the price of the LIT created a double dip pattern, which generally presents a bullish outlook.

Additionally, this pattern has been paired with a bullish divergence in the weekly RSI.

On November 3, Litentry price broke above the long-term horizontal resistance zone of $1.10. This breakout also combined with a rise in the RSI above 50. Thus, the rise is likely to continue at least towards the next resistance, located at $2.

However, if the price fails to close above the $1.10 resistance zone, this would negate this bullish prediction.

LIT/USDT – TradingView

Litecoin (LTC) reaches the top of its range

The LTC crypto price has been rising since October 13, when it deviated below its range floor at $52. After reclaiming this area, the growth rate accelerated sharply.

Currently, LTC is aiming to break above the $64 resistance zone, which has been in place since the beginning of August. If successful, the next resistance will be at $80, and is created by a long-term falling resistance line.

The ongoing bullish move is also supported by the RSI, which broke above 50 after generating a bullish divergence (green line).

Failing a daily close above the $64 area would nullify this bullish prediction for the Litecoin crypto.

LTC/USDT – TradingView

BAT price crosses a resistance line

The price of the BAT crypto broke through a short-term falling resistance line on November 2 and hit a high of $0.352 the following day. This breakout was supported by the RSI, which broke above 50 after generating a bullish divergence (green line).

BAT is now facing strong resistance located at $0.355. This area is crucial as it has alternated between support (green arrows) and resistance (red arrows) since May. If the altcoin manages to break above it, it should rise towards $0.470.

If it fails to close above the $0.355 area, it would negate this potential bullish action for the altcoin.

BAT/USDT – TradingView

Could SUSHI lead the dance of the altcoin season?

The price of the SUSHI crypto has been rising since a deviation below the $1.10 support zone on September 25 (red circle). The upside move led to a high of $1.89 hit on October 30, which led to a move above the $1.62 resistance zone.

After bouncing off the $1.62 area and validating it as support (green arrow), SUSHI has risen significantly in the span of 24 hours.

There is a noticeable lack of resistance above the current price of the altcoin. Thus, SUSHI might trend higher towards the next resistance at $2.94. This would equate to a 62% upside move.

On the contrary, a daily close below the $1.62 area would suggest that the price advance could not be sustained and that a retest of $1.10 is to be expected.

SUSHI/USDT – TradingView

TETHA price could rise to $1.70

THETA price has been declining below a falling resistance line since April. This bearish move led to a low of $0.91 reached on October 13.

After creating a long lower wick (green arrow), THETA crossed this line on October 23. It has so far reached a high of $1.28.

Due to the lack of next resistance, it seems likely that the upside move will continue at least towards $1.70.

On the contrary, a drop in the altcoin below the low of $1.11 (red line) would negate this bullish assumption.

THETA/USDT – TradingView

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