Trending Coins for April 6, 2024: W, EGO, ENA, STRUMP, and BTC

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RESULTS

More drama continues to unfold in this week’s list of trending coins and the crypto market as a whole. Some coins have been able to retain their spot from last week. Meanwhile, some newly launched coins have also gathered considerable attention, even as we close in on the Bitcoin Halving event. Let’s further study each of these coins, one after the other.

Wormhole (W)

Major Bias: Bearish

The Wormhole coin has emerged at the top of this week’s list of trending coins. As of the time of writing, the coin has witnessed a price increase of about 3.81%, while having seen a price decline of 26.30% over the past seven days. It has also seen a market capitalization of $1.84 billion and a trading volume of $517.10 million. To analyze the market, we’ll have to use an hourly price chart since this is a recently launched coin.

The market had been on a moderate upside correction ever since its price action bounced off the support around the $0.500 mark. However, the ongoing session is bearish and has produced a downward correction. This seems to have created headwinds for price action. Even the crossover on the Stochastic Relative Strength Index (SRSI) indicator lines seems bearish. Also, the current price of the token has fallen below the crossing lines of the Guppy Multiple Moving Average (GMMA) lines. Therefore, traders can brace for the market to soon hit the $1.000 mark.
Current Price: $1.0144
Market capitalization: $1.84 billion
Trading Volume: $517.10 million
7-Day Gain/Loss: 26.30%

EGO (EGO)

Major Bias: Bullish

The EGO coin comes in second on the list of trending coins. The token has retained the second spot on this list from last week. The coin as of today has seen a price increase of 10.54%, which has cleared the price decline of 9.95% seen over the past 7 days. Also, this coin has witnessed a market capitalization of $4.26 million and a trading volume of $4.29 million. Furthermore, analysis has shown that price action has bounced off the support at the $0.07480 mark.

Also, the last price candle here has placed the price of the token above the crossing lines of the GMMA lines. However, one can notice an upper shadow appearing above the last price candle, which suggests that headwinds are acting in this market, trying to force price action downwards. Nevertheless, upside forces seem to remain largely in control. The SRSI lines are pointed upward, suggesting that bulls are still in control of the market trend. While the rejection stays on, traders can hope that the market breaks the resistance at the $0.0800 mark.
Current Price: $0.07496
Market Capitalization: $4.26 million
Trading Volume: $4.29 million
7-Day Gain/Loss: 9.95%

Ethana (ENA)

Major Bias: Bullish

Ethana Coin is another newly launched coin that has made it to the list of the top five trending coins. This coin stands in the third position on this list after seeing the most significant gains on this list. The coin’s price has gone up by an impressive 14.06% in today’s trading activity. Likewise, its price has been up by 55.93% this week, making it the overall best-performing coin on this list for this week.

In addition, crypto has seen a market capitalization of $1.53 billion and a trading volume of $980.98 million. On the trading chart, the coin remains near its all-time high since launching. However, the current session has printed moderate downward corrections for the second straight session. The last price candle has further depressed the market, further below some more GMMA lines. Also, the SRSI indicator lines are still falling deeper into the oversold region. At this point, traders can only hope that the support at the $1.0580 mark will halt the downward corrections in the market.
Current Price: $1.0680
Market capitalization: $1.56 billion
Trading Volume: $980.98 million
7-Day Gain/Loss: 14.06%

SuperTrump (STRUMP)

Major Bias: Bearish

The SuperTrump is another coin that has been able to keep its position from last week’s analysis. However, the coin has been in the red over the past 7 days, and today the coin has seen a further price decline of 11.02%. The coin also has a market capitalization of $9.16 million and a trading volume of $6.27 million.

As of the time of writing, the coin trades at $0.005117. On the price chart, the coin is on a clear bearish trend. Price candles can be seen below the GMMA lines. Also, the SRSI indicator lines have also delivered a bearish crossover, and their lines are following the trend. This signals that headwinds are in cruise control of the market and may touch down on the $0.00400 mark.
Current Price: $0.004991
Market capitalization: $9.16 million
Trading Volume: $6.27 million
7-Day Gain/Loss: 11.02%

Bitcoin (BTC)

Major Bias: Bullish

The king of cryptocurrency BTC, has been able to appear on the list of trending coins for this week. Taking a low position of 5th on the list, the coin has printed just a 0.77% increase on the day. Over the past 7 days, we can see that Bitcoin has been bearish, printing 3.56% losses. It also has a market capitalization of $1.33 trillion. Also, it has witnessed a trading volume of $24.50 billion.

Price action in the daily market can be seen lurking around the close of the past three trading sessions. Trading activities remain at a considerable level above the red set of the GMMA lines. Also, we can see that the SRSI indicator lines still have an upside trajectory. This suggests that the upside forces may keep pushing prices further upward. The lurking mood of the last price candle suggests that upside forces still have the chance to take the market higher toward the $70,000 mark.
Current Price: $67,645
Market Capitalization: $1.33 trillion
Trading Volume: $24.50 billion
7-Day Gain/Loss: 3.56%

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