November is right around the corner, and for crypto investors that means it’s time to review holdings and look for new opportunities. The crypto market remains highly volatile, so careful research is required to find the most promising coins that could see significant gains this month.
Based on technical analysis and recent news, three cryptocurrencies stand out as potential buys for November 2023 – Ripple ($XRP), eTukTuk ($TUK), and Shiba Inu ($SHIB).
Ripple ($XRP)
Ripple’s XRP token has surged over 14% in the last week, now trading around $0.55. According to technical analysis from altFINS, XRP just had a bullish breakout from an Ascending Triangle pattern above the key $0.55 resistance level. This could signal the resumption of an uptrend for XRP, with upside potential toward $0.68.
The Ascending Triangle is considered a continuation pattern, typically breaking out in the direction of the existing trend. Swing traders could trade between the trendlines, buying at support and selling at resistance, as long as the trendlines remain far apart.
The short-term trend for XRP is bullish, with key momentum indicators like the MACD and RSI in positive territory. Initial support is around $0.45, followed by resistance at $0.68 and $0.92.
Source: altFINS
In addition, the SEC recently dropped claims against Ripple executives, removing a key regulatory overhang for the company. This has helped improve market sentiment for XRP. With bullish technicals and clearing regulatory skies, XRP looks poised for more gains in November.
eTukTuk ($TUK)
eTukTuk is an eco-friendly transportation startup currently running its ICO, having raised over $144,500 so far. The project aims to bring affordable electric vehicle solutions to developing economies, starting with AI-powered electric tuk-tuks designed to be safer, cleaner and more cost-effective than traditional auto-rickshaws.
The company has completed a 5-year development phase to create its optimized electric tuk-tuks using precision technology with under 200 components in a streamlined design. eTukTuk utilizes a peer-to-peer ridesharing model with incentives for drivers as well as investors who stake TUK tokens to operate charging stations.
eTukTuk has already partnered with The Capital Maharaja Group, a prominent conglomerate in Sri Lanka, to open over 200 charging locations so far. The $TUK token is currently priced at just $0.0245 during its ICO phase, but will increase over the next 10 days as the sale progresses. Investors can purchase and stake TUK to start earning staking rewards immediately, with APY already over 2152%.
Recent coverage has focused on eTukTuk’s sustainable mission to promote EV adoption and reduce emissions in developing regions where private vehicle ownership is limited. As the eTukTuk charging network expands across Southeast Asia, Africa and Latin America, $TUK holders will earn more revenues.
With major partnerships secured and its affordable, AI-powered electric tuk-tuks ready to launch, eTukTuk aims to transform public transportation in emerging economies. Its ICO presents a ground-floor opportunity for crypto investors seeking transportation innovation and sustainability.
Shiba Inu ($SHIB)
Meme coin Shiba Inu has seen a modest 7% gain this past week, now trading around $0.00000074. According to prominent analyst Ali on X, SHIB just triggered a critical TD Sequential buy signal on its weekly chart. The last two times this indicator flashed bullish, SHIB surged 118% and 71% respectively. Given the rarity of these buy signals, SHIB could be gearing up for another rally.
Momentum indicators for SHIB have turned bullish, with the MACD line crossing above the signal line and RSI holding above 55. The next key level to watch is the 200-day moving average currently around $0.00000112. A decisive break above that would confirm a trend change from neutral to uptrend for SHIB over the medium-term.
With meme coins still retaining an almost cult-like following among retail traders, renewed buying pressure could ignite SHIB’s next vertical move higher. Its extreme volatility means large potential gains for daring speculators. SHIB remains a high-risk, high-reward opportunity for crypto gamblers.
Best Crypto to Buy in November
November is shaping up to be an interesting month for crypto, with promising opportunities in both established and emerging projects. For investors seeking a safer play in a top 10 token, XRP looks primed for further gains with its bullish technical setup.
Traders may also want to ride the hype around eTukTuk’s ICO, as the eco-friendly transportation disruptor expands into new markets. And meme coin aficionados can try their luck with perennially volatile SHIB, which tends to see periodic price spikes driven by community momentum.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
