Trending Coins for January 13, 2024: BTC, SEI, MYRO, MEME, and ETH

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RESULTS

The majority of the coins that appeared on this list of trending coins the previous week have been displaced from the top five positions. While some were displaced, others only experienced significant movements. Bitcoin moved from the fourth position on last week’s list to now take the top spot on this week’s list. Let’s carefully consider each of these cryptos in more detail below.

Bitcoin (BTC)

Major Bias: Bullish

Bitcoin has won the top spot on this week’s list of most sought-after coins. While the crypto has seen significant traction in recent times, causing it to break the $40,000 threshold, this coin in the previous week experienced huge price swings as its price action had broken the $46,000 resistance and even attempted to cross the $47,500 mark. This token has seen a price decline of roughly 6.80% in 24 hours, while the last 7 days only printed a price decline of $1.35%. As of the time of writing, its market capitalization stands at $844.47 billion, and the trading volume is $44.76 billion.

The previous session has been the most bearish in recent times, as it plunged prices below the middle limit of the Bollinger Bands. Meanwhile, the current session has seen a minimal recovery, as portrayed by the tiny last green price candle on this chart. The Moving Average Convergence Divergence (MACD) lines now have a downward trajectory, with red bars appearing below the center line of the indicator. This has bearish implications for this market. However, the minimal upside corrections for the ongoing session suggest that more traders may have started utilizing the dip to re-enter the market. Therefore, traders can anticipate that price action will cross the $44,000 threshold.

Current Price: $44,000
Market Capitalization: $844.47 billion
Trading Volume: $44.76 billion
7-Day Gain/Loss: 1.35%

Sei (SEI)

Major Bias: Bullish

The SEI token has dropped one step from last week’s list of trending cryptocurrencies, now reclining in the second spot of the week. This market had earlier attempted to continue the trend significantly through the 23.60 Fibonacci Retracement level but seems to lack enough traction to accomplish that. As a result, the market has been ranging just above the $0.6365 mark. Sei has printed a price decline of 4.76% as of the time of writing while seeing a price increase of 5.48% in the past 7 days. Additionally, the token has a market cap of $1.59 billion as of the time of writing and a trading volume of $456 million.

Meanwhile, on the daily chart, it could be seen that price activity has failed to lift significantly upward after crossing above the $0.6365 mark. The current session has also staged a bounce off the mentioned mark as a support level while above the middle limit of the Bollinger Bands. But, on the contrary, the Stochastic Relative Strength Index (RSI) indicator adds a bearish tone to this market. The lines of the indicator could be seen falling deeper into the oversold region. Consequently, this reveals that momentum is still down, and price action may at least touch down on the $0.6365 mark.

Current Price: $0.6879
Market Capitalization: $1.59 billion
Trading Volume: $456 million
7-Day Gain/Loss: 5.48%

Myro (MYRO)

Major Bias: Bullish

The Myro token was launched not too long ago but seems to have gathered significant traction in a progressive manner, thereby placing it third position on this week’s list of trending coins. For over twelve sessions now, price action in the market has sustained its upside focus as price candles continue to appear bigger from one session to another. At this point, technical indicators are also supportive of the opinion that more profits may be recorded shortly. Over the past seven days, this token has printed a 93.98% price increase, while today has also delivered a further price increase of 45.97%. This has effectively placed this token among the top gainers as of the time of writing.

It also has a market cap of $142.57 million and a trading volume of roughly $60 million. On the price chart, the corresponding price candle for the ongoing session lacks both upper and lower shadows. This reveals that bulls have a good grip on price movement in this market, as price action continues to hug the uppermost limits of the Bollinger Bands. In addition, the lines of the RSI are still trending upward, and the leading line has now crossed above the 80 mark. Consequently, this seems to suggest that this market is eyeing the $0.1800 mark.

Current Price: $0.1599
Market Capitalization: $142.57 million
Trading Volume: $59.06 million
7-Day Gain/Loss: 93.98%

Memecoin (MEME)

Major Bias: Bearish

Memecoin hasn’t printed a significant amount of gains in recent times but has managed to sit in the fourth position on this week’s list of trending coins. The token has printed more losses than gains in the past 7 days. It lost 6.60% in 24 hours, while it has seen just a 5.39% price increase in the past 7 days.

The coin also has a market capitalization of $219.312 million and a trading volume of $105.72 million. Price action on the token’s trading chart has continued to remain contained below the middle limit of the Bollinger Bands. Also, the RSI indicator lines had recently risen above the 75 mark of the indicator. More recently, the lines of this indicator have started to converge for a crossover. This started as price action bounced off the middle limit of the Bollinger Bands. Nevertheless, the last price candle on this chart shows that downward forces are having a hard time forcing prices below the 50 Fibonacci Retracement level. Therefore, traders can anticipate a bounce off this level towards the $0.03000 mark.

Current Price: $0.02468
Market capitalization: $219.312 million
Trading Volume: $105.72 million
7-Day Gain/Loss: 5.39%

Ethereum (ETH)

Major Bias: Bullish

Price activity in the Ethereum daily market has crossed the $2,500 threshold, a mark that hasn’t been reached in many months. Despite this impressive performance, the token has only arrived in the fifth spot on this week’s list of trending coins. This token has posted a loss of 2.39% in the last 24 hours while gathering a more notable price increase of 14.06% over the week. Furthermore, the token has a market cap of $306.42 billion and a trading volume of $24.72 billion. The trading chart for this token on the daily market has revealed that price action has bounced off the $2,700 mark.

This started after price action broke through the uppermost limit of the Bollinger Bands. Meanwhile, bulls in this market have shown the willingness to extend the upside retracement, as they are taking the lead in the ongoing session. Likewise, the MACD indicator lines are still trending upward above the equilibrium level, even though the previous session has shown significant bearish characteristics. Consequently, this suggests that price action will likely approach the 2700 mark once more.

Current Price: $2,551
Market Capitalization: $306.42 billion
Trading Volume: $24.72 billion
7-Day Gain/Loss: 14.06%

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