Crypto Market Selloff: Why Are These Altcoins Still Rising?
The cryptocurrency market has experienced a significant downturn, with Bitcoin (BTC) extending its decline by another 2% following yesterday’s losses. However, amidst this bearish trend, some altcoins are bucking the trend and showcasing strong bullish momentum. Notably, ASTER, XMR, and GIGGLE have been defying the market’s downward spiral, with each token exhibiting unique factors contributing to their upward trajectory.
Aster (ASTER) Price Rebound
Aster (ASTER) has seen a remarkable 13% increase in price over the last 24 hours, recovering from the oversold zone of $0.82 to $0.92. This rebound is largely attributed to the token’s recovery from its recent decline after reaching $1.30, a surge triggered by CZ’s disclosure that he purchased ASTER for $2 million for his buy-and-hold portfolio. The price has now returned to test the 9-day EMA, which it lost due to profit-taking.
Reclaiming the $1.20-$1.25 barrier, which turned into resistance after the October 10 flash crash and failed recovery, remains a crucial level to watch. A break above this level could signal renewed bullish momentum and attract short-term traders looking for a retest of the $1.50-$1.60 zone from mid-October.
ASTER 4H chart | TradingView
Monero (XMR) Tests Horizontal Resistance
Monero (XMR) price is up 5% in the last 24 hours as it tests horizontal resistance at $345-350, the upper boundary of a descending triangle formation. The token has been hovering above this level for about a week, with the daily candle reaching as high as $380 today. If XMR price closes above this resistance and prevails, the measured movement from the formation – based on the lower boundary at $265 – predicts a potential upside target near $430 if bullish momentum continues.
XMR 1D Chart | TradingView
Giggle Fund (GIGGLE) Surges on Binance Announcement
The price of Giggle Fund (GIGGLE) has increased by 128% in the last 24 hours, driven by Binance’s announcement on November 3 that it will donate 50% of GIGGLE trading fees to Giggle Academy’s educational initiatives starting in December. A short-term reversal is underway on the 1H timeframe, with the chart showing a clear higher low and higher high, supported by an ascending trendline since recovering from the $47-50 oversold zone. GIGGLE price is now consolidating just below the local resistance at $140. A break above this level would confirm a stronger bullish continuation.
GIGGLE 1H chart | TradingView
For more information on the current crypto market trends and why these altcoins are still climbing, visit https://crypto.news/crypto-market-sell-off-why-these-altcoins-still-climbing/
