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Bitcoin continues to lead the trend in the crypto market as it has become the center of attraction after the halving. Also, for the past few weeks, this coin has remained the number one trending cryptocurrency as it holds the top spot on the list of trending coins. Two newly launched tokens have also made an entry into this week’s list of the most sought-after coins. Let’s take a closer look at each of these five most sought-after tokens below.
Bitcoin (BTC)
Major Bias: Bullish
As mentioned earlier, BTC has retained the top spot on the list of trending cryptocurrencies from last week and even from weeks before. The coin has seen a price increase of 4.05% today, while over the past seven days, it saw a price increase of 7.81%. Its market capitalization stands at $1.26 trillion, while its trading volume was $34.32 billion.
On the price chart, it can be seen that the previous session saw a massive price increase, while the session found its support around $60,000. The corresponding price candle had punched its way through the uppermost limit of the Bollinger Bands (BB) indicator. Subsequently, the market contracted back below the uppermost limits of the indicator. Yet the ongoing session has managed to remain bullish while standing above the $64,000 price level. The Stochastic Relative Strength Index (Stochastic RSI) lines can still be seen rising generally upward into the overbought region. At this point, price behavior suggests that buyers may be catching their breath before launching toward the $68,000 threshold.
The FOUR token is the second token on this week’s list of trending cryptocurrencies. It is a newly launched token, as mentioned earlier, and has already made it to the second spot. This coin has seen a price decline of 0.65% on the day and a massive price increase of 120.78% over the past week. FOUR has a self-reported market capitalization of $30.02 million and a trading volume of $1.85 million.
For a good view of price action, this token will be examined on a 4-hour price chart. On the price chart, recent sessions seem to possess healthy volatility. Likewise, the $0.009000 price level seems to have been a resistance to price action; however, price action appears to be heading back toward that mark. The Bollinger Bands (BB) indicator can be seen as having an upside bias while its upper and lower limits are now contracting. Similarly, the Stochastic RSI lines also have an upward trajectory from the oversold region. This suggests that more traders may start using crypto signals targeting the $0.00800 price level and subsequently the $0.00900 price level.
Current Price: $0.007733
Market Capitalization: $30.32 million
Trading Volume: $1.85 million
7-Day Gain/Loss: 120.78%
sunpepe (SUNPEPE)
Major Bias: Bullish
SUNPEPE occupies the third position on the list, having seen a price increase of 11.06% on the day and 24.16% over the week. The token has a market cap of $1.04 million but a trading volume of $4.50 million. This is another newly launched coin, and as such, its price movement will be examined on an hourly price chart.
The current session, as depicted by the last price candle on the chart, shows that the market is bullish. The mentioned price candle can be seen sitting above the uppermost band of the BB indicator while appearing green. The lines of the Stochastic RSI indicator can be seen rising steadily upward above the 50 mark. This aligns with the trajectory of the BB indicator to hint at a bullish correction toward the $0.001200 mark.
Current Price: $0.01144
Market Capitalization: $1.04 million
Trading Volume: $4.50 million
7-Day Gain/Loss: 24.16%
Ether.fi (ETHFI)
Major Bias: Bullish
The etherfi token has occupied the fourth position on this week’s list of trending cryptocurrencies. The provided metric shows that the market has seen a price increase of 11.01% today. Meanwhile, a price increase of 24.16% was recorded over the past week. The coin has a market cap of $301.13 million and a trading volume of $91.14 million.
The price chart revealed that over the past months, the market has been on a steady downward correction. However, lately, the trend has become more sideways, and more recently, a bullish breakout occurred. The corresponding price candles for the previous session and the ongoing one can be seen hugging the uppermost limit of the BB indicator. The Stochastic RSI indicator lines can be seen positioned slightly in the upward direction, even though they are converging. At this point, it appears that the market may break out of the $2.00 resistance level.
Current Price: $1.725
Market Capitalization: $301.13 million
Trading Volume: $91.14 million
7-Day Gain/Loss: 24.16%
Tron (TRX)
Major Bias: Bullish
The TRX token ranks fifth on this week’s list of trending coins. The available metrics show that the coin has seen a price increase of 0.88% as of the time of writing and a price increase of 17.68% over the past seven days. Its market capitalization stands at an impressive $13.86 billion, while its trading volume is $762 million.
A close look at the last price candle on the chart suggests that headwinds have forced bulls to retreat below the $0.1600 mark. This can be seen through the contraction of the last price candle on the chart, which leaves it with a long upper shadow. Nevertheless, buyers are still holding onto some gains while price action continues to hug the uppermost band of the BB indicator. Meanwhile, the Stochastic RSI curves are converging for a bullish crossover not far below the 80 mark. This hints that the market will likely resurface above the $0.1600 mark and advance toward the $0.1700 price level.
Current Price: $0.159
Market Capitalization: $13.86 billion
Trading Volume: $762 million
7-Day Gain/Loss: 17.68%
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