The final month of the year is nearing, but before December begins, some altcoins are preparing for one last hurrah as November ends. This includes a Bitcoin namesake token as well, which is likely benefiting from BTC’s rise.
BeInCrypto has analyzed two altcoins that investors should be on the lookout for in the last week of November. Among them is a Bitcoin-themed asset that seems poised to take advantage of the current market conditions.
Celestia (TIA)
TIA has been struggling this month, plummeting 40% in just under two weeks. However, there’s a shimmer of hope for this token with the impending Matcha upgrade. This development has garnered significant attention, as traders remain on the lookout for potential catalysts that could reverse TIA’s current downtrend.
The Matcha upgrade is expected to bring substantial improvements, including scaling to 128MB blocks and halving inflation, which could help TIA bounce off the $0.607 support level and potentially reach $0.784. Such a rebound would be crucial for mitigating the steep losses experienced throughout November.
Visualize the potential gains: if the Matcha upgrade meets expectations, it could herald a new chapter for TIA. However, there’s a caveat. Should the upgrade underperform or fail to ignite sufficient momentum, TIA risks sliding down to $0.531. A breach of this support level would cast doubt on an optimistic outlook, suggesting continued declines as investor confidence wanes.
Helium (HNT)
Helium is also in the spotlight, having experienced a 24% decline over the past week, currently trading at $1.91, just below a key resistance level. This latest downturn has pushed HNT into a precarious position, but a recent rebound from the $1.79 support level offers a tiny window for stabilization.
The upcoming HIP-148 protocol upgrade promises to introduce significant changes to Helium’s network, which could support a dynamic price recovery. Moreover, HNT’s notable 0.89 correlation with Bitcoin suggests that if BTC continues its upward trajectory, HNT could find itself on a path toward the $2.10 resistance level or even as high as $2.28, provided momentum builds.
However, caution is advised. If HNT fails to capitalize on Bitcoin’s movement or if the network upgrade doesn’t spur the expected excitement, bearish pressures could re-emerge. A drop beneath the $1.79 support might trigger a descent towards $1.66, undermining any bullish sentiment and signaling renewed weakness within the Helium ecosystem.
Bitcoin Cash (BCH)
Bitcoin’s recent surge is opening doors for BTC-themed assets, and Bitcoin Cash (BCH) stands out as a strong contender to benefit from this wave. Known as one of the more prominent Bitcoin hard forks, BCH has recently demonstrated promise, climbing 13% and trading around $544, just shy of the critical $555 resistance barrier.
This resistance level could serve as a significant point of pressure, historically limiting upward movement for BCH. A successful breakthrough could pave the way toward $593, marking the final hurdle before BCH targets the coveted $600 zone. Increased inflows, evidenced by an improving Chaikin Money Flow (CMF), could serve as the spark for this potential advance.
Nevertheless, the stakes are high. If BCH fails to breach the $555 ceiling, history might repeat itself. A downside rejection could swiftly push the price back toward the $503 level, or even lower to $479. Such a decline would invalidate the bullish outlook, indicating renewed weakness in the general trend surrounding Bitcoin Cash.
