Trending Coins for February 17, 2024: BTC, VET, WLD, LPT, KAS

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RESULTS

The king of crypto has claimed its rightful place on this week’s list of trending coins. This happened after the coin recently went bullish, gaining significant traction and rising to a height last seen in 2022. Other coins have also attracted considerable attention over the past few days and have arrived on this list. Let’s examine them one after the other.

Bitcoin (BTC)

Major Bias: Bearish

While BTC stands in the top spot of this week’s list of trending coins, it seems to have printed some losses according to available metrics. As of today, Bitcoin has witnessed a bearish correction of 1.07%, while it has witnessed a price increase of 9.77% in the past 7 days. Also, its market cap stands at a towering $1.102 trillion, while it has a trading volume of $22.44 billion. About 22 sessions ago, price action in this market leaped off the support at the $40,000 mark. The token soon found higher support and moved on from there with renewed momentum, which pushed the price through the $44,000 and $48,000 marks.

The momentum in the market seems to have cooled down over recent sessions, as the market now experiences a rejection just near the $52,000 mark. The ongoing session still holds above most of the Guppy Multiple Average (GMMA) curves and therefore still holds some upside promise. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator is also reflecting a reduction in upside momentum, as the indicator bar now looks pale green. Nevertheless, traders can retain their bullish bets on the $54,000 mark.

Current Price: $51,662
Market Capitalization: $1.102 trillion
Trading Volume: $22.44 billion
7-Day Gain/Loss: 9.77%

VeChain (VET)

Major Bias: Bearish

The VeChain token stands in the 2nd spot on the trending coins list. And, just like BTC, it has also seen a downward rejection, however, more significant than that of BTC. As of press time, the coin has printed a price decline of 8.17% and a price pump of 52.60% in the past 7 days. It has a market capitalization of $3.26 billion and a trading volume of $281.90 million.

As opposed to the possible downward retracement due to the rejection, technical indicators are maintaining a bullish stance. The line of the MACD indicator could be seen rising upwards despite the rejection seen in the ongoing session near the $0.4500 mark. Also, even the current price of the token after the downward correction remains above both the green and red sets of the GMMA indicator lines. Consequently, this suggests that bullish crypto signals may still be applicable in this market, as the market may continue towards the $0.04800 mark.

Current Price: $0.04441
Market Capitalization: $3.26 billion
Trading Volume: $281.90 million
7-Day Gain/Loss: 52.60%

Worldcoin (WLD)

Major Bias: Bullish

While the Worldcoin stands in the 3rd position on the trending coin list, this token remains straight bullish. As of the time of writing, it has seen a further price increase of 7.60% and an 84.72% price increase over the past 7 days. At the same time, the crypto has a $592.34 million market capitalization and a trading volume of $551.56 million. On the daily chart, it could be seen that bulls have consistently been thrusting through multiple price levels.

In fact, the ongoing session looks strongly bullish considering the lack of an upper shadow on the last price candle on this chart. While trading activities continue above the GMMA line, the MACD lines are rising quite steeply. In addition, the bars of the indicator are solid green in appearance while they continue to grow taller above the equilibrium level. This demonstrates the massive strength of upside forces in this market, which may keep prices running towards the $5.500 mark.

Current Price: $4.78
Market Capitalization: $592.34 million
Trading Volume: $551.56 million
7-Day Gain/Loss: 84.72%

Livepeer (LPT)

Major Bias: Bullish

The fourth coin on this list is the Livepeer token. It seems to be the token with the most movement today, considering the available metrics. This coin has recorded a massive price increase of 44.93% in the last 24 hours and a 136.14% increase in the past 7 days. Also, it has a market capitalization of $538.35 million and a trading volume of $592.73 million. The daily chart revealed that the token saw most of its price increase over the past trading sessions until now.

This is seen in the size of the corresponding price candle for the previous session and the ongoing session. However, the appearance of an upper shadow above the last price candle here suggests that the market is facing rejection. But contrary to this, the MACD indicator lines are still racing upwards while the bars of the indicator remain solid green. Consequently, this attests to the fact that the market may maintain an upward trajectory towards the $18.50 mark.

Current Price: $17.63
Market Capitalization: $538.35 million
Trading Volume: $592.73 million
7-Day Gain/Loss: 136.14%

Kaspa (KAS)

Major Bias: Bullish

And in the 5th position on this week’s list of most sought-after crypto is the Kaspa token. Going by available metrics, this coin has also done very well, as it has recorded a 17.62% price increase in the last 24 hours and a 25.99% increase in the past 7 days. Also, its market capitalization was $3.84 billion, while its trading volume was $126.27 million as of the time of writing.

On the daily chart, price action has once again broken another psychological price mark. This has further advanced price action above the GMMA indicator lines. Likewise, the MACD lines suggest that the uptrend may have regained strength as the indicator bars have regained their solid green appearance. Also, the lines of the MACD have taken a steeper upside path, looking at the tips of the indicator lines. Consequently, traders can still set their targets at the $0.1800 mark.

Current Price: $0.1680
Market Capitalization:$3.84 billion
Trading Volume: $126.27 million
7-Day Gain/Loss: 1.28%

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