3 little-known altcoins that could generate profits this November

Although altcoin season isn’t underway at the moment, Victor Tan, founder and CEO of TrinityPad, exclusively told BeInCrypto that some lesser-known altcoins could also see an uptick.

“While some altcoins with strong utility may still be on the rise, the altcoin season as a whole appears subdued, with investors increasingly focused on established assets. Altcoins could see selective growth, driven by specific use cases rather than general market growth,” Victor Tan told BeInCrypto.

BeInCrypto analyzed three of these quieter altcoins that, while forgotten in October, have great potential for November.

Virtuals Protocol (VIRTUAL)

VIRTUAL became one of the top performing AI tokens for the month of October with a 568% month-over-month increase. This impressive rise brought VIRTUAL to a new all-time high of $0.51, allowing it to stand out in the altcoin market and highlighting its growth potential among investors.

Despite the uptrend, VIRTUAL did not experience significant selling pressure, suggesting that its momentum may hold. Thus, if the altcoin manages to turn the $0.51 barrier into a support level, it can strengthen its upward trajectory.

To go further: What is alt season, the famous altcoin season?

Analysis of the VIRTUAL course.
Analysis of the VIRTUAL course. Source: TradingView

However, the bullish outlook would be negated if investors start selling their holdings in this altcoin. If VIRTUAL loses the support placed at $0.28, it risks a significant drop to $0.13, which means a significant downside. This level would represent a potential return to the starting point, which could affect the market’s confidence in the token’s growth.

Safe

The SAFE altcoin recently hit a multi-month high of $1.80, representing a 105% increase. However, its price has fallen 22% over the past week, reflecting increased short-term selling pressure. This correction highlights the current volatility as traders cash out their profits, which also impacts the short-term stability of this altcoin.

Despite the decline, SAFE has previously demonstrated its resilience by recovering from similar declines. Added to this is its upside potential boosted by its recent listing on the Upbit exchange, which has sparked renewed interest and could fuel a sustained uptrend.

SAFE course analysis.
SAFE course analysis. Source: TradingView

However, SAFE’s bullish outlook may be threatened if the price loses the $1.10 support level. A drop below that would then risk a deeper correction to $0.87, which could shake investor confidence. This decline would then indicate a change in sentiment and call for caution among traders.

Turbo (TURBO)

The turbo price shows good conditions for a parabolic curve trading pattern, indicating the potential for this altcoin to potentially double in value after a third base pattern is formed and tested as support. If this pattern is validated, it often signals an accelerated move to the upside, which is why Turbo is positioning for significant upside in the coming weeks.

Although a doubling in value is not fully guaranteed, Turbo could see gains similar to those seen since the start of this model, pointing to a possible 161% increase to $0.0243. This bullish forecast is also in line with the altcoin’s current momentum and is piqued the interest of traders who anticipate further increases.

Moving on: 10 Best Exchange Platforms in 2024

TURBO price analysis.
TURBO price analysis. Source: TradingView

In addition, Turbo’s listing on Binance’s Copy Trading Futures platform is also a positive indicator, contributing to the altcoin’s visibility and credibility. However, his bullish outlook could be dashed if investors decide to sell their holdings. This could then push the price below the critical support level at $0.0084, which could lead to a correction towards $0.0048.

Moral of the story: Some altcoins grow better in the dark.

Disclaimer

Disclaimer: In accordance with The Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased information, but market conditions may change without notice. Always do your own research and consult with a professional before making any financial decision.

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