Between November 1st and yesterday, nearly $400 billion was wiped from the market following a downturn among leading cryptocurrencies. The decline saw the Fear & Greed Index nearly dip into the extreme fear territory, which is often seen as a positive buying signal.<\/p>\n
As investor confidence builds, several leading altcoins have experienced significant growth over the past 24 hours, outperforming Bitcoin (BTC). Among them, Ethereum (ETH) and XRP (XRP) are leading the charge, gaining 6.4% and 5.9% today, respectively.<\/p>\n
In the face of shifting market dynamics, some analysts are advising caution, while others believe smaller tokens are the ones to watch this Q4. Let\u2019s take a closer look at ETH, XRP, and one presale token analysts believe can outperform them this year.<\/p>\n
This publication is sponsored. CryptoDnes does not endorse and is not responsible for the content, accuracy, quality, advertising, products or other materials on this page.<\/strong><\/em><\/span><\/p>\n Nearly $200 billion has returned to the market over the past 24 hours, with leading altcoins attracting much of it. Following yesterday\u2019s dip to a 24-hour low of $2.15, XRP surged to $2.36 today, amid the broader rebound.<\/p>\n Although fear persists across the board, traders seem confident in XRP\u2019s near-term potential. The token\u2019s long\/short ratio of 2.88 indicates that over 74% of traders expect it to keep climbing.<\/p>\n However, technical analyst Ali Charts believes a healthy correction is likely to follow after XRP\u2019s potential surge toward $2.55.<\/p>\n Expecting the current buying pressure to exhaust soon, he anticipates a dip below the $2 mark for XRP in the month\u2019s second half. Following a similar price trajectory, ETH managed to return above $3,400 following yesterday\u2019s dip below $3,200. Over the same period, a whale rotated from BTC to open a $138 million ETH long position, according to Lookonchain.<\/p>\n ETH\u2019s performance over the day saw it jump back above its 200-day Simple Moving Average (SMA) of $3,330. Although this crossover indicates the token is forming strong long-term momentum, expert Ted believes another dip may follow soon.<\/p>\n He suggests the current rebound isn\u2019t a true show of strength, but the result of a larger short position liquidation. Over the past 24 hours, $35.6 million in ETH shorts have been liquidated, fueling the price surge.<\/p>\n According to the expert, the current rally could drive ETH\u2019s price to as much as $3,700. However, he believes a dip toward the $2,800 range is a more likely alternative before ETH\u2019s next leg up.<\/p>\n The bearish predictions suggest a better buying zone may be forming soon for the market\u2019s leading altcoins. As a result, investors are already shifting their attention to one presale project that persistently defied the recent negative market trends.<\/p>\n
\nWill a Healthy Correction Precede the Next Altcoin Rally?<\/h2>\n
Bitcoin Hyper Presale Surpasses $26.3 Million Raised as Analyst Predicts a 100x Explosive Debut<\/h2>\n