The early days of November 2023 have maintained the bullish trend in the crypto market that started in late October. Despite Bitcoin’s slight retracement below $35,000 in the last 24 hours, most altcoins retain most of their gains.
But, analyst and digital asset expert Gautam Chhugani is bullish on Bitcoin, tipping it to rise to a new high of $150,000 by mid-2025. Some altcoins have emerged today as the top gainers benefiting from the positive outlook of the crypto market and support from their community.
Find these assets below and also discover their next possible price moves in the coming days.
Blur (BLUR) – The Innovative NFT Marketplace
BLUR’s price at 6:53 am EST on November 7 is $0.38, with a massive price gain of 24.45% in the last 24 hours. Also, its seven-day gains stand at 48.9%, confirming that the buyers control its price.
According to data from DappRadar, Blur is leading in sales in the NFT marketplace based on its trading volume.
Blur NFT sales volume stands at $10,79 million today, November 7, leading to a spike in value. Also, transactions with a minimum value of $100,000 worth of BLUR increased by 248% in the past 24 hours.
The total NFT sales volume was well over $18 million, with BLUR accounting for most of the trading volume. This is likely the major factor driving BLUR’s price gains, evident on the daily chart. Also, the bullish recovery of the crypto market seems to have sparked an NFT rally in the past week.
BLUR Testing $0.40 Resistance, Will It Retrace?
BLUR is in an uptrend on the daily chart, building on its gains on November 6 after breaking above the $0.31 resistance level. The upper wick of today’s candle is touching the $0.40 resistance level as the buyers attempt a rally to break through.
Notably, BLUR is trading close to the upper band of the Donchian Channel (DC) but faces resistance at $0.40. Furthermore, the Relative Strength Index (RSI) indicator is at 79.26 in the overbought region above 70. However, the RSI is moving sideways, hinting at a possible retracement if the buyers begin to retreat.
Also, the Doji candlestick formed today hints at a possible retracement ahead for BLUR.So, investors must watch out for today’s closing position to determine BLUR’s next price moves. It will likely retrace in the coming days before resuming its uptrend.
Cronos (CRO) – The Reliable Payment Ecosystem
CRO is trading at $0.076 on November 7, at 6:65 a.m. EST. This price represents a 6.8% increase in the last 24 hours. Meanwhile, it has gained 23.0% in the last seven days as the accumulation phase continues.
Notably, Crypto.com’s report on the state of affairs in the crypto market likely made CRO traders bullish to enter long trades.
👀 The latest edition of Alpha Navigator, an institutional-focused @Cryptocom_Insto report, is here
🧵 Key takeaways below:
📊 Asset classes were mixed in October, with $BTC outperforming significantly
According to this report, Bitcoin outperformed most assets in October to post positive figures. Also, the U.S. Federal Reserve maintained its interest rates in the November 1 meeting, preventing chaos in the crypto market.
Furthermore, BTC’s correlation with gold is positive, while it is negative with equities. Therefore, based on these positive reports, investors seem to have maintained the ongoing accumulation phase, leading to a CRO rally on the daily chart.
CRO Approaches $0.077 Resistance, Will It Break Above?
CRO is in an uptrend on the daily chart, finding support at the $0.070 price level. It encountered resistance at $0.077 and is attempting to break above the price level.
Notably, CRO has formed four consecutive green candles on the daily chart, suggesting that the buyers are in an accumulation phase. Also, the RSI is in the overbought region above 70, displaying a value of 93.13, implying strong pressure from the buyers on the asset.
Furthermore, the Moving Average Convergence/Divergence (MACD) is above its signal line, displaying a strong buy signal. Also, the green Histogram bars confirm that the buyers are still in control. CRO will likely break above the $0.077 resistance level in the coming days before retracing for consolidation since it’s already overbought.
Trust Wallet Token (TWT) – The Trusted Wallet for Crypto Transactions
TWT’s price today at 6:58 a.m. EST is $1.67, with a 15.2% increase in the past 24 hours. Also, TWT has recorded massive gains of 54.6% in the last seven days as buyers continue to push its price to higher highs.
TWT’s price gains are linked to the massive utility of Trust Wallet, as over 60 million active users adopted it.
Impressively, users can purchase crypto tokens directly from Trust Wallet using the on-ramp providers for multiple currencies. Also, staking is supported directly from the wallet, making it easy for users to earn extra rewards.
Meanwhile, registration is ongoing for a Trust Wallet Instanbul meetup event in Turkey. This event will allow attendees to gain valuable knowledge from industry experts and is taking place today, November 7.
Furthermore, Trust Wallet users can learn and earn on the platform, which adds more incentive and value. Remarkably, the positive developments in the ecosystem have translated to price gains on the daily chart for TWT tokens.
TWT Candle Forms Long Lower Wick: Could This Signal A Retracement?
TWT has found support at $1.34 as the buyers dominate the market. Presently, TWT is testing the $1.68 resistance level, with the sellers forcing a long lower wick for today’s candle as the sellers re-enter the market.
Also, the Stochastic Oscillator is in the overbought region above 80, with the fast RSI displaying a value of 96.2. It implies that the buyers are still active and determined to force a break above the $1.68 resistance level.
Also, the MACD indicator displays a by-signal confirmed by its green Histogram bars. Based on the indicators, TWT will likely surpass the $1.68 resistance level in the coming days. However, overbought markets always carry the risk of retracement.
Meme Kombat (MK) – The Blockchain-Based Gaming Platform for Rewards
Are you interested in blockchain gaming? Meme Kombat is a crypto project that grants users access to exciting gameplay battle modes powered by Artificial Intelligence (AI).
Meme Kombat relies on the top-notch blockchain technology of the Ethereum network to execute its gameplay modes.
The $MK token is a utility token that unlocks the full benefits of this platform to users and is presently on presale. With $MK, users can take part in automated battles, wagering, and staking for passive income, which adds value to the ecosystem.
Presently, the $MK presale is in its first stage, with each token valued at $0.183. However, a price change will occur for the token in less than two days. Also, users can purchase these tokens with ETH or USDT by connecting a secure crypto wallet to the presale page.
Presale Milestones Serve as Incentives for Participants
MK’s presale has realized over $1.27 million out of the goal of $1.5 million at this stage. Notably, exciting rewards will be unlocked for each presale milestone achieved.
Details of these rewards are provided in the table below.
The Meme Kombat Staking dApp launch and an AMA session with the founder.
A $5000 USDT giveaway as a community incentive.
$10,000 USDT giveaway and another AMA event with the Meme Kombat Founder
Meme Kombat relies on staking as an anti-inflation control mechanism in its ecosystem. Therefore, MK tokens purchased during the presales are automatically staked for additional rewards.
However, these rewards are dependent on the APY at the time of staking for the tokens.
Also, for a user to qualify to claim staking rewards, the staking wallet must re-stake all available MK tokens for a minimum of one locking period. This ensures that users are not tempted to sell off all tokens and cause a drop in their value when they are listed on exchanges.
Furthermore, once the MK dApp launches, MK holders can access the staking dashboard and claim or stake their tokens through Dynamic Staking. Meanwhile, a portion of staked tokens can be wagered on bets on the platform for additional rewards.
Betting Expands Utility for MK Tokens
Additionally, the main purpose of Meme Kombat is to unite the crypto community through fun battles with their favorite memes. Also, users can engage in a wide variety of gaming modes, such as Player vs. Player, for direct competition and bragging rights.
Furthermore, the advanced AI technology makes the outcomes of battles quite unpredictable, adding thrill and dynamism to the ecosystem. The vast utility of the Meme Kombat ecosystem will likely boost its overall value and relevance in the coming years.
Bitcoin Minetrix (BTCMTX) – The Bitcoin Cloud Mining Solution That Works
Bitcoin mining is constantly evolving as miners aim to control costs and boost profitability. However, rising electricity costs, noise pollution, and high maintenance costs for mining hardware are leading most miners to losses.
Bitcoin Minetrix offers miners a practical cloud mining solution to eliminate the challenges faced by these miners. It offers cloud mining solutions in a decentralized and secure way, relying on the Stake-to-Mine concept.
With the Bitcoin Minetrix solution, miners only need to purchase BTCMTX tokens and stake them to receive mining credits. These mining credits are non-tradable tokens that are burnt to mine Bitcoin or receive mining rewards.
Users with Ethereum-compatible wallets like MetaMask can easily purchase and stake these BTCMTX tokens to participate in mining. A glance at the BTCMTX staking dashboard reveals that over 255.39 million tokens have been staked as of November 7.
This confirms the rising interest in the Bitcoin Minetrix Stake-to-Mine framework. Also, the APY as of today is 158.5, which is quite impressive for staking compared to the average rate of 5-10% obtainable.
Also, BTCMTX token rewards will be distributed to users based on the present APY when staking.
However, these rewards will diminish as more tokens enter the staking pool. Additionally, staking rewards are paid over two years based on each user’s share in the staking pool and APY.
BTCMTX Presale Ongoing and Approaching $4.4 Million Milestone
BTCMTX is on presale with over $3.62 million realized out of the presale goal of $4.4 million. Each BTCMTX token is worth $0.0115 four days before another price increase occurs.
Users can easily purchase these tokens with ETH, USDT, or bank cards once they connect a secure wallet to the website. Buying BTCMTX during the presale could yield early investor rewards due to a potential price surge after listing on crypto exchanges.
According to the tokenomics, the BTCMTX supply is capped at 4 billion tokens. 42,5% of this supply will be liquidity for Bitcoin mining operations on the platform.
Also, 35% of these tokens will go to marketing endeavors and the growth of BTCMTX. Additionally, 10% is for community rewards, while 12.5% will serve as staking rewards for BTCMTX stakers until the cloud mining platform launches.
According to a Twitter post by Bitcoin Minetrix developers, cloud mining is the solution for effective Bitcoin mining operations. Also, the developers noted that its advantages include a simple start for novices and the elimination of hardware costs, noise, space, and overheating.
Additionally, upgrades are at no expense to the miners. Remarkably, Bitcoin Minetrix has a well-detailed plan to improve mining rewards and protect miners from taxes and costs associated with Bitcoin mining.
Cryptocurrencies continue to post impressive figures as investors continue to push the accumulation phase. While the Bitcoin ETF speculation seemed to have brought the market to life, some altcoins outperformed Bitcoin in daily gains.
Also, the upcoming Bitcoin Halving is likely another reason for the ongoing accumulation, as most investors seek to buy low and sell high. Nevertheless, a price decline might occur soon once the accumulation phase is over.
Therefore, investors must apply proper risk management techniques and diversify to control losses.