Top Five Trending Coins for November 16: POKT, BAY, ZEC, DASH, LA
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This week’s edition of Trending Markets highlights the performance of several notable assets following a significant shake-up across the broader cryptocurrency landscape. While many markets are attempting to recover from persistent downward pressure, two privacy-focused cryptocurrencies—Zcash and Dash—stand out with strong bullish activity.
Let’s take a closer look at the market dynamics shaping each asset’s performance.
Pocket Network (POKT)
Major Bias: Indecision
The market has been trending downward since early June, following a sharp peak near the $0.10 price level. This peak occurred at the end of May after the market surged dramatically from $0.013 in a single trading session—a true “God Candle”—before topping out just below $0.10.
The bullish momentum was so intense that traders were unable to sustain the upward move. As a result, beginning on May 30, the market entered a prolonged downward trend.
Now, the price is approaching the same zone where the previous strong bullish rally originally began. This development suggests that the ongoing bearish trend may be nearing exhaustion, and market participants could soon start positioning for another potential upward surge.
Current Price: $0.0169
Market Capitalization: $39.9 million
Trading Volume: $17.8 million
Marina Protocol (BAY)
Major Bias: Indecision
With limited chart data and the appearance of an initial massive bullish candlestick, this market is likely newly launched. Such markets typically experience significant early volatility due to intense speculation and hype that often drive initial price movements.
The market appears to have opened on November 1 at approximately $0.0043. Within the same day, it surged dramatically, reaching a peak near $0.19. Since then, the price has settled around the $0.13 level.
A period of consolidation may persist around this zone as the market stabilizes. Once this consolidation phase matures, the market could gather enough strength to propel further to the upside.
Current Price: $0.13
Market Capitalization: $26.8 million
Trading Volume: $854 million
Zcash (ZEC)
Major Bias: Bullish
This market—likely a privacy-focused asset—presents a significantly different narrative compared to most cryptocurrencies that experienced strong downward volatility in October. While many markets were under bearish pressure throughout the month, this one demonstrated impressive bullish strength.
Beyond the clear upward-trending candlesticks, the trading volume is notable. The strong volume histograms indicate heightened trader participation and enthusiasm during the bullish phase. However, once the price reached the $700 area, bearish sentiment emerged, and resistance became evident. This triggered quick profit-taking, resulting in a pullback toward the $440 level—a key support zone.
The strong reaction at this support suggests that the market may be preparing for another bullish move. If the $440 level continues to hold, the upward trend has a strong chance of resuming.
Current Price: $687
Market Capitalization: $11.2 billion
Trading Volume: $3.2 billion
Dash (DASH)
Major Bias: Bullish
This is another privacy coin that has demonstrated impressive bullish momentum despite the broader downward trend seen across the crypto market. Similar to Zcash, this market also began its upward movement in early October. The volatility that pressured most assets during that period instead fueled a strong bullish breakout for this coin.
Between late October and early November, the market experienced an explosive rally. After holding around the $43 level, the price surged rapidly and peaked above $140 within a short span. Prior to this breakout, both privacy coins featured in today’s analysis had remained relatively stagnant for an extended period. In the case of DASH/USD, the price hovered around $23 for a long time before climbing to $43 in October.
Although recent bearish activity has introduced some downward pressure, bullish sentiment is beginning to re-emerge. If the price continues to hold above the $60 support zone, the upward trend may resume.
Current Price: $81
Market Capitalization: $1 billion
Trading Volume: $782 million
Lagrange (LA)
Major Bias: Bullish
The market has remained in consolidation throughout October and into the present. However, there are signs that the bulls are gradually gaining the upper hand, as the support level has been shifting slightly upward over time. As this support continued to rise, the $0.50 price zone emerged as a key resistance level, keeping the market capped below this threshold for a while.
In today’s trading session, however, the price action broke above this critical level. The structure of the bullish candlestick suggests that buyers may be strong enough to maintain price stability above $0.50, potentially establishing this zone as a new support level.
If the bulls successfully defend this breakout into the next trading session, the market is likely to extend its upward movement toward the $0.60 price region.
Current Price: $0.52
Market Capitalization: $100 million
Trading Volume: $234.9 million
