Elrond, Aave and Decentraland price forecast for November
The cryptocurrency market continues to thrive. Bitcoin has stabilized above the USD 60,000 level. Decentraland (MANA) has exploded. The cryptocurrency market continues to thrive in the last trading days of October 2021. Bitcoin is trading above the $61,000 level again, and this situation also supports the price of Elrond EGLD/USD, Aave AAVE/USD and Decentraland MANA/USD.
Market capitalization increased
Since yesterday, the cryptocurrency market cap has risen by $40 billion, and US Senator Rand Paul believes Bitcoin will topple the dollar to become the world’s reserve currency. Senator Rand Paul added:
The government currencies are so unreliable and they are not backed by anything. As more and more people lose faith in the government, Bitcoin will rise to the top of the rankings.
The US Securities and Exchange Commission (SEC) has allowed the first US Bitcoin futures ETF to begin trading this month, and Allied Market Research reported that the global cryptocurrency market would reach $4.94 billion by 2030. XRP future is positive. Sentiment in the crypto market remains positive, but according to JP Morgan Bitcoin’s recent rise is due to rising inflation, not ETF approval.
Elrond, Aave and Decentraland could make even more progress in November if the positive trend continues, and traders should bear in mind that if Bitcoin breaks above the $70,000 resistance, it would give a further boost to the entire cryptocurrency market.
EGLD Watches USD 300 . Resistance
Elrond (EGLD) has been one of the top performing players in the cryptocurrency market since early September 2021 and the price of this cryptocurrency has reached a new all-time high above $300. EGLD could make further advances in the ongoing bull market, and if the price jumps back above the $300 resistance, the next price target could be around $330 or even higher. On the other hand, if the price drops below the $200 support level, it would be a strong sell signal and we have the open road to the $150 level.
AAVE could rise above USD 400 again
The price of Aave (AAVE) has increased from $276 to $458 since early October 2021 and its current price is at $322. Renovato.io cryptocurrency has enough information. If the price jumps above $400 resistance, the next price target could be $450; still, if the price drops below the $250 support, it would be a solid sell signal.
Decentraland (MANA) has exploded
Decentraland is an Ethereum-based blockchain platform that allows you to buy, build and monetize virtual reality applications. The price of Decentraland (MANA) has exploded from $0.75 above $1.60 in less than 48 hours and its current price is at $1.59.
The cryptocurrency market continues to thrive in the final trading days of October 2021, and Elrond, Aave and Decentraland could make even more progress in November if the positive trend continues. The cryptocurrency market cap has surged $40 billion since yesterday, and if Bitcoin breaks above the $70,000 resistance, it would give a further boost to the entire cryptocurrency market.