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It’s all about the bears on this week’s list of trending coins. Topping the list is the Pi token, followed by MAGIC, while HYPER holds third place. Most of these coins are under strong bearish pressure as of the time of writing. Let’s dive into the details below.
Pi (PI)
Major Bias: Bearish
The Pi token takes the top spot on this week’s list of trending coins, as earlier noted. The coin has recorded a price decline of 12.40% in the past 24 hours and a 19.91% drop over the last seven days. Meanwhile, it holds a market capitalization of $2.75B, while its trading volume stands at $170.98M.
On the daily chart, price action is spiraling downward. For the past eleven sessions, the PI/USDT market has remained under strong bearish pressure. Recently, this momentum has strengthened, as the most recent price candle hugs the lower band of the Bollinger Bands (BB) indicator. Likewise, the Stochastic Relative Strength Index (SRSI) has fallen deep into the oversold region. While the ongoing session remains bearish, it appears logical to anticipate further declines toward the $0.3500 level.
Current Price: $0.3551
Market Capitalization: $2.75B
Trading Volume: $170.98M
7-Day Loss: -19.91%
Treasure (MAGIC)
Major Bias: Bullish
Unlike Pi, the Treasure token is showing strength. It ranks second among the week’s trending coins and has seen a 31.20% price increase in the past 24 hours, along with an 18.79% gain over the last seven days. The token has a market cap of $57.90M and a trading volume of $382.81M.
On the daily chart, price action remains upward but has faced notable bearish activity, resulting in a temporary contraction. Nevertheless, the ongoing session remains above the middle band of the BB indicator. Meanwhile, the SRSI is trending upward but still lies below the 50 mark. Therefore, traders may target the $0.2000 level for short-term gains.
Current Price: $0.1789
Market Capitalization: $57.90M
Trading Volume: $382.81M
7-Day Gain: +18.79%
Hyperlane (HYPER)
Major Bias: Bearish
The Hyperlane token holds the third spot on the list of trending coins. It has recorded a 0.96% loss over the past 24 hours and a 21.65% decline over the last seven days. As of writing, the token has a market capitalization of $67.25M and a trading volume of $130.11M.
On the daily chart, the token has experienced notable past gains, which has helped keep the market from collapsing. However, recent sessions show a downward retracement with modest momentum. The most recent price candle is positioned below the middle band of the BB indicator, which has also contracted significantly. Similarly, the SRSI lines are deep in the oversold zone. Therefore, traders may consider the $0.3340 level as a realistic downside target.
Current Price: $0.3840
Market Capitalization: $67.25M
Trading Volume: $130.11M
7-Day Loss: -21.65%
Audius (AUDIO)
Major Bias: Bearish
Coming in fourth is the Audius token. It has recorded a 2.60% price decline over the past 24 hours and a 19.35% drop over the last seven days. The token holds a market capitalization of $77.81M and a trading volume of $28.78M.
On the daily chart, bearish sentiment remains dominant. The last price candle appears large and red, continuing to push against the lower band of the BB indicator. At the same time, the SRSI has sunk deep into the oversold region and continues to trend sideways. Therefore, traders may target the $0.0520 price level.
Current Price: $0.0583
Market Capitalization: $77.81M
Trading Volume: $28.78M
7-Day Loss: -19.35%
Alaya Governance Token (AGT)
Major Bias: Bearish
The AGT token ranks last on this week’s list of trending coins. It has seen a 9.80% decline in the past 24 hours and a 3.39% loss over the last seven days. The token holds a market capitalization of $8.96M and a trading volume of $13.97M.
The daily chart shows that the market remains volatile, with price movements happening quickly. The last candle has brought the token back below the BB’s middle band by a narrow margin. The BB bands are still contracting, indicating reduced volatility. Meanwhile, the SRSI line remains pointed upward but has been slightly shaken by the recent pullback. As such, traders may aim for a price level around $0.00500.
Current Price: $0.00548
Market Capitalization: $8.96M
Trading Volume: $13.97M
7-Day Loss: -3.39%
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