Trending Coins for December 2, 2023: LUNC, XYO, USTC, CAGA, and IOTA

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RESULTS

On this week’s list of trending coins, most of the prominent cryptocurrency names have failed to appear. It’s kind of like when the cats are away, the mice come out to play situation. For some reason, these coins have managed to gather significant traction over the past seven days. Let’s dive into the analysis of this market.

Terra Classic (LUNC)

Major Bias: Bullish

The Terra Classic token has witnessed significant movements recently. As of today, it has gained additional upside traction of 18.15%, while over the week, it has gathered profits to the tune of 86.80%. LUNC has a market capitalization of $813 million and a trading volume of $336 million. On the daily chart, it appears that this market has been significantly explosive, with price action bursting its way through elevated resistance marks.

While the previous season brought massive gains to traders in this market, today’s session has also started on a bullish path. Price activity continues above the two sets of the Guppy Multiple Moving Average (GMMA) indicator lines. Also, the Relative Strength Index (RSI) indicator shows that the upside momentum is determined to persist, as another bullish crossover has occurred in the overbought region. At this point, the market may sail towards the $0.0001450 mark.

Current Price: $0.0001388
Market Capitalization: $813 million
Trading Volume: $336 million
7-Day Gain/Loss: 86.80%

XYO Network (XYO)

Major Bias: Bullish

Similar to LUNC, the XYO token has been hyper bullish. However, today’s trading activities have only seen the token gather just 13.90%, while over the past seven days, it has seen an 83.02% price increase. Meanwhile, the token has a market capitalization of $97 million and a trading volume of $12.32 million. On the daily chart, it appears that buyers have been progressively strained.

This can be seen as the token prints lesser and lesser gains. Nevertheless, trading activities continue above the GMMA lines. Another indicator suggesting a decrease in bullish momentum is the RSI indicator. The leading line of this indicator can be seen flattening out at the 100 level. Although the ongoing session is still bullish on the daily chart, it maintains that the upside retracement is facing some opposition. Therefore, should traders choose to stay bullish towards the $0.008000 mark, they should ensure to position a good exit at a convenient mark.

Current Price: $0.007134
Market Capitalization: $97 million
Trading Volume: $12.32 million
7-Day Gain/Loss: 83.022%

TerraClassicUSD (USTC)

Major Bias: Bullish

The third on the list of trending coins is TerraClassicUSD. This token has a market capitalization of $482 million and a trading volume of $194 million. Meanwhile, it has only seen an additional price increase of 0.64% today and almost a 300% price increase over the week. This token has managed to remain bullish on the daily chart; this is expressed as trading continuing above the GMMA indicator lines. Furthermore, the uptrend seems quite exhausted, as price candles appearing in recent times now have small bodies. Likewise, the RSI indicator has delivered a more sideways orientation crossover in the overbought region. Consequently, this suggests that the momentum is weak and may fizzle out towards the $0.05360 mark.

Current Price: $0.05333
Market Capitalization: $482 million
Trading Volume: $194 million
7-Day Gain/Loss: 300%

Crypto Asset Governance Alliance (CAGA)

Major Bias: Bullish

The CAGA token is a newly launched token that has gained enough traction to place it on the list of trending coins for this week. It has a self-reported market capitalization of $142 million and a trading volume of $24 million. Also, it has seen an additional price increase of 2.56% today and 199.71% over the week. On the daily chart, the CAGA price action has started making higher lows following the low seen on the 30th of November.

Meanwhile, the upper and lower limits of the Bollinger Bands have contracted notably. Also, price action has bounced off the lowest limit of the Bollinger Bands indicator despite low volatility, as portrayed by the price candle representing the ongoing session. The RSI lines are now converging in the oversold region for a bullish crossover. Therefore, traders can anticipate that price action may rise towards the 0.001600 mark.

Current Price: $0.001361
Market capitalization: $142 million
Trading Volume: $24 million
7-Day Gain/Loss: 199.71%

IOTA

Major Bias: Bullish

IOTA is one of the recognized tokens in the crypto space that has made it to this week’s list of trending coins. It has seen a price increase of 3.56% and a 32.06% price increase over the week. It also has a market capitalization of $726 million and a trading volume of $129 million. Today’s trading session seems to have rekindled bullish anticipation after the price action in the market had a minimal downward correction.

The experienced gains seen in this market have returned the token to trading above the 0.2647 mark, which lies above the uppermost limit of the Bollinger Bands indicator. Furthermore, the Moving Average Convergence Divergence (MACD) indicator lines have an upside bearing with its bars tall and green in appearance. Consequently, the signs observed on the MACD indicate the availability of a formidable upside momentum. Therefore, this market has the chance of making its way towards the $0.2800 mark.

Current Price: $0.2647
Market Capitalization: $726 billion
Trading Volume: $129 billion
7-Day Gain/Loss: 3.56%

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