Altcoins on 29th November 2021 — Elrond (EGLD) down, The Sandbox (SAND) up!
Today is Monday, 29th November, and this is Cointribune’s Crypto analytics. You will learn about everything that’s been going on in the market, as well as what to expect next in our new article! Make sure to have a look at the previous instalment. Off we go!
Fear and greed index
The fear and greed index has slightly shifted to greed. The market is still in a state of fear, which, technically, means now is the time to build up long positions.
Nevertheless, the situation is not all roses. Bitcoin (BTC) is still facing resistance in the $60,000 area, a resistance which it hasn’t yet managed to break despite several attempts. This may indicate that in case of another fail, we are in for a long red candle up to the current $50,000 support.
I recommend grabbing this chance, but without spending the entire deposit on purchases. Buy in parts, so that you’ll always have the means to average down in case of another collapse.
TOP 10 Altcoins
Top-10 altcoins keep following Bitcoin. Ripple (XRP), Polkadot (DOT), and Solana (SOL) stand out the most, their daily returns exceeding 7%.
Some investors expected Shiba Inu (SHIB) to climb to the top of the rating, as recently, a major tech-focused e-commerce platform, Newegg, has announced that SHIB is coming to its platform. According to Forbes, Newegg’s annual revenue exceeds $2.7 billion. But for some reason, the meme coin remained in 12th place.
The Sandbox (SAND)
The play-to-earn metaverse is once again riding the crest of a wave. The Sandbox (SAND) becomes the gainer of the day with a profit of over 20%.
The loser of the day with a loss of around 4% is Elrond, however, this minor loss is still the worst indicator among the TOP-100.
Don’t forget about stop losses and don’t neglect risk management. Making money on asset trading means profiting off of other people’s failures, so be careful!
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Trends are temporary. The blockchain isn’t a trend; it’s the future. I want to help as many people as possible understand it in a simple, clear and interesting way.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.