In this article, BeInCrypto will take a look at ten cryptocurrencies that have interesting developments lined up for the month of November. These developments could potentially have a positive effect on their price.
Binance Coin (BNB)
Current Price: $645.84
Market Cap: $107 Billion
Market Cap Rank: #3
BNB is the native token of Binance, one the most popular cryptocurrency exchanges in the world. It serves to pay transaction fees at a lower cost.
BNB implemented its Hard Fork called “Bruno” on the last day of November. It introduced a new burning mechanism and sped up the node synchronization process.
BNB is following a descending resistance line, and has been doing so since reaching an all-time high price on May 10. It is currently making its fifth breakout attempt.
If successful, the next resistance areas above the all-time high would be at $822 and $985.
Current Price: $3.65
Market Cap: $471 Million
Market Cap Rank: #162
Lisk is a blockchain platform that focuses on application creation. It allows developers to build their own applications. The platform is creating an ecosystem of blockchain applications that can interact with each other. So far, numerous applications have been built on the platform.
An interactive event that will announce new developments will be held on Dec 2. The event is called “Amplifire”.
LSK has been gradually moving upwards while following an ascending support line since Aug. It has bounced on this line twice (green icons), on Sept 29 and Nov 19.
Once it manages to break out from the $3.80 resistance area, it is likely to increase at an accelerated rate.
Current Price: $16.02
Market Cap: $1.584 Billion
Market Cap Rank: #81
QTUM is an open-source blockchain platform. Its goal is to combine the individual strength of Bitcoin and Ethereum into one. Therefore, it uses the Unspent Transaction Output (UTXO) model from BTC, while adding smart contracts and decentralized applications.
The first QTUM halving will transpire on Dec 1. Halvenings have often had a positive effect on a token’s price.
QTUM has bounced at the $14 horizontal support area (green icon). The area previously acted as resistance, and has now turned to support. Currently, the token is attempting to break out from a descending parallel channel.
If successful, it could increase towards the next resistance area at $22.
Current Price: $26.57
Market Cap: $12.4 Billion
Market Cap Rank: #20
Chainlink is a platform that enables secure interaction for different blockchains. This is done through the decentralized Oracle network. Furthermore, participants can run their own nodes in the network.
Bitflier, the number one exchange by volume in Japan will list Chainlink in December 2021.
However, LINK has broken down from an ascending support line, and fell to the $22.1 horizontal support area on Nov 28, where it initiated the current bounce.
Current Price: $0.42
Market Cap: $386 Million
Market Cap Rank: #265
Alien Worlds is a decentralized game, where players compete in an economy with scarce resources. It is a play-to-earn non-fungible token (NFT) game. The native token is TLM, which is used as an in-game currency.
The launch of land packs, a new feature in the game, will occur on Dec 4.
TLM broke from the $0.37 horizontal area on Nov 23, and returned to validated it as support (green icon) two days later. Previously, the resistance had held since late July.
If the token continues to increase, the next resistance would be at $0.76.
Current Price: $2.79
Market Cap: $3.59 Billion
Market Cap Rank: #52
Stacks is a project that aims to bring Dapps and smart contracts into BTC. The platform uses STX as its native token. STX is needed in order to execute smart contracts.
The SIP – 012 main net upgrade will be deployed on block 713,000 on Dec 6.
STX reached a new all-time high price of $3.25 on Dec 1. While it has been decreasing since, it is potentially initiating a bounce at the $2.50 horizontal support area (green icon).
This is the previous all-time high resistance area and coincides with the previous descending resistance line.
Current Price: $0.58
Market Cap: $36.8 Million
Market Cap Rank: #737
Vertcoin is a cryptocurrency created in 2014, and uses a proof-of-work mechanism. This means that tokens are created through mining. VTC will undergo its halving on Dec 8. Therefore, mining rewards will be cut in half, in what can be seen as a deflationary measure.
While VTC has been following an ascending support line since June 22, it has yet to initiate any type of significant upward movement. The main resistance area is at $0.75.
Current Price : $0.33
Market Cap: $8.13 Billion
Market Cap Rank: #25
XLM is the native token for the Stellar foundation. It was created in June 2016, by one of the founders of the Ripple protocol, Jed Mcaleb.
The aim of the foundation is to provide financial services to underdeveloped territories which lack financial institutions.
On Dec 15, XLM holders will receive an airdrop for AQUA token.
XLM has been increasing alongside an ascending support line since July 20. More recently, it bounced at the line on Nov 28 (green icon).
If it continues to increase, the closest resistance area would be at $0.42. The token has not traded above this level since May.
Current Price: $0.09
Market Cap: $66.6 Million
Market Cap Rank: #579
Dock is a platform that enables businesses and developers to build and manage their digital credentials, which are verified with blockchain technology. The native token for the platform is DOCK, which is used for payment mechanisms.
In December, exchange based staking will be available on Huobi, Binance and the KuCoin exchange.
DOCK has also been increasing alongside an ascending support line since the end of May. More recently, it bounced at the line on Nov 19.
The main resistance area is at $0.115. Once it breaks out, DOCK could increase towards a new all-time high price.
Reserve Rights (RSR)
Current Price: $0.049
Market Cap: $648 Million
Market Cap Rank: #146
Reserve rights is a stablecoin platform that uses two tokens: Reserve Stablecoin (RSV) and Reserve Rights (RSR). The latter is used to keep the price of the former stable. Therefore, unlike regular stablecoins that are often backed by the U.S. dollar, Reserve stablecoins are backed by other cryptocurrencies.
The full Reserve protocol main net will launch prior to Dec 31.
On Nov 29, RSR broke out from a descending resistance line, which had been in place since Aug. This confirmed that the correction is complete.
The token is currently attempting to break out from the $0.056 resistance area. Once it does, the rate of increase is expected to accelerate.
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