Trending Coins for August 3, 2024: BTC, CARL, NEIRO, ETH, and ONDO

Bitcoin has continued a massive price decline after breaking the support at $65,000. This has significantly affected the crypto market, causing significant price downturns. Consequently, this week’s list of trending coins comprises coins that are in a downtrend. Let’s dive.

Bitcoin (BTC)

Major Bias: Bearish

Despite the prevalent downturn in the BTC daily market, this coin has remained at the top of this week’s list of trending cryptocurrencies. Bitcoin has seen a price decline of more than 4% today. Meanwhile, the coin’s price declined by about 11.74% over the past seven days. Also, the market cap of this coin was $1.20 trillion as of the time of writing, with a trading volume of $32.94 billion.

On the price chart, we can see that price activity has fallen below the 20-, 50-, and 100-day Exponential Moving Average (EMA) lines. The ongoing session can be seen hovering around the $60,000 threshold. Considering the size of the last price candle, it could be said that bearish momentum has declined significantly. Meanwhile, the Stochastic Relative Strength Index (SRSI) lines can be seen converging and dragging in the oversold region. This hints that price action may not be able to resist falling below the $60,000 mark.

Current Price: $60,839
Market Capitalization: $1.20 trillion
Trading Volume: $32.94 billion
7-Day Gain/Loss: -11.74%

Carl (CARL)

Major Bias: Bearish

The Carl token was only launched a few days ago but has made it to the second spot on this week’s list of trending coins. Nevertheless, it has seen a significant price reduction of 15.14% today and a price increase of 15.57% over the past seven days. Furthermore, it has a self-reported market cap of $260,189 and a trading volume of $3.25 million.

The price line chart for this coin showed that price action has been very volatile but seems a bit more settled around the $0.0002500 threshold. Nevertheless, we can see that the market is still in a downtrend. Therefore, traders can anticipate that price action here will likely arrive below the $0.0002500 threshold and may soon hit the $0.0002400 mark.

Current Price: $0.0002602
Market Capitalization: $260,189
Trading Volume: $3.26 million
7-Day Gain/Loss: 15.57%

Neiro Ethereum (NEIRO)

Major Bias: Bearish

The third token on this week’s list is the Neiro Ethereum token. As of the time of writing, the coin has seen a price reduction of 25.57% on the day and a price increase of 896.95% over the past seven days. NEIRO’s market capitalization was also $138 million with a trading volume of $20.72 million.

Owing to the newness of this coin, its price movement will be examined on an hourly price chart. Price activity in this market has been able to rise past the 20-day EMA line. However, the 50-day EMA has formed a roof up ahead. The corresponding price candle to the ongoing session has landed back on the 20-day EMA as if to break below it. Meanwhile, the SRSI indicator lines have taken to a slightly upward trajectory above the 50 level. At this point, traders can anticipate a rebound of that line toward the $0.03000 mark.

Current Price: $0.01433
Market Capitalization: $138 million
Trading Volume: $20.72 million
7-Day Gain/Loss: 896.95%

Ethereum (ETH)

Major Bias: Bearish

Ethereum has been able to stay in the spotlight from last week till now. This coin has been able to stay in the fourth position on this week’s list of trending coins. As of the time of capturing the market, this token was worth $2,938, while seeing a price decline of 10.61% over the past seven days and 3.49% on the day. Its market cap was $353 billion and $16.99 billion was its trading volume.

Price action in the Ethereum daily market has broken the support formed by the upside-sloping trendline. As of the time of writing, the coin trades below the $3,000 mark with moderate momentum. This has placed the market below all the EMA lines. Meanwhile, the SRSI indicator lines can be seen falling steeply downward into the oversold region. Technically, this hints that the market may head towards the $2,750 mark.

Current Price: $2,938
Market Capitalization: $353 billion
Trading Volume: $16.99 billion
7-Day Gain/Loss: -10.61%

Ondo (ONDO)

Major Bias: Bearish

The Ondo finance token has been able to hang in the fifth spot on this week’s list of trending coins. This token has seen a price decline of 7.98% on the day and 22.45% over the past seven days. Also, the token has a market cap of roughly $1.10 billion and a trading volume of $105 million.

On the price chart, we can see that bears have maintained firm control of the price movement in the market. During the previous session, bears further increased in momentum. As a result, prices fell below the technical price level at the $0.8000 mark. Meanwhile, the SRSI lines have reached the depths of the oversold region. The two lines of this indicator can be seen to be converging in the oversold region. However, the fact that price movement remains below all the EMA lines suggests that prices may see further declines toward the $0.6500 mark.

Current Price: $0.8000
Market Capitalization: $1.10 billion
Trading Volume: $105 million
7-Day Gain/Loss: -22.45%

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