Altcoin Season: 5 Cryptos That Look Ready to Explode

Altcoin Season: 5 Cryptos That Look Ready to Explode

The cryptocurrency market has seen a significant surge over the past two weeks. The continued surge, in turn, has made cryptocurrency market forecasts significantly more optimistic, raising hopes for an upcoming altcoin season. A list of 15 altcoins looking bullish on the charts has been provided by well-known trader @MacnBTC. Of these, Litentry (LIT), Litecoin (LTC), Basic Attention Token (BAT), SushiSwap (SUSHI), and Theta Token (THETA) appear poised to lead the potential altcoin season.

LIT Price Breaks Out After Bullish Pattern

LIT price formed a double-bottom pattern between May and September with broadly bullish implications. Additionally, the design has been combined with a bullish divergence on the weekly RSI. On November 3, the LIT price broke out from an extended position of $1.10 horizontal resistance area. The breakout also saw the RSI surge above 50. As a result, the rally is likely to continue towards at least the next-nearest resistance at $2.

LTC Price Reaches Range High

LTC has been rising since October 13, when it dipped below its minimum range of $52. After the minimum content recovered, the rate of increase accelerated significantly. LTC price is currently trying to break the $64 resistance area that has been in place since early August. If it succeeds, the next resistance would be $80, created by a long-term descending resistance line.

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

BAT Price Breaks Out from Resistance Line

BAT’s price broke out of a short-term descending resistance line on November 2 and hit a high of $0.352 the next day. The RSI supported the breakout, which broke above 50 after generating a bullish divergence (green line). BAT’s price is now facing strong resistance at $0.355. The area is crucial as it has acted as intermittent support (green icons) and resistance (red icons) since May. If BAT’s price moves above it, a move to $0.470 is expected. 

Can SUSHI Lead Altcoin Season?

SUSHI has been up since falling below the $1.10 support area (red circle) on September 25. The upward move led to a high of $1.89 on October 30, which triggered a breakout of the $1.62 resistance area. After bouncing off the $1.62 area and validating as support (green symbol), SUSHI has increased significantly over the past 24 hours. There is a noticeable lack of resistance above the current price.

Therefore, the SUSHI price could rise towards the next resistance at $2.94. This would correspond to an upward movement of 62%. On the other hand, a daily close below the $1.62 area would suggest that the breakout could not be sustained and a retest of $1.10 up for grabs.

THETA Price Could Increase to $1.70

THETA price has fallen below a descending resistance line since April. This downward move resulted in a low of $0.91 on October 13. After creating a long bottom wick (green icon), the THETA price broke out of the line on October 23. So far, it has peaked at $1.28. In the absence of overhead resistance, the uptrend appears to continue towards at least $1.70.

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