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It seems quite interesting how some coins from the previous week’s list of trending coins have remained immovable and have kept their positions until this week. Bitcoin and Notcoin are the coins that have demonstrated such dominance. Meanwhile, some new coins have made an appearance on this week’s list as well, so let’s commit more study to each of them.
Bitcoin (BTC)
Major Bias: Bullish
Bitcoin has retained its position as the top-trending coin from last week until now. As of the time of writing, BTC has recorded a price increase of 1.23% on the day and a price increase of 2.47% over the past 7 days. The token’s market cap stood at $1.16 trillion and has a trading volume of $18.29 billion.
On the price chart, price activity is starting to rise above the Exponential Moving Average (EMA) lines. The corresponding price candle for the ongoing session has breached the resistance at the 200-day EMA curve. Likewise, the Stochastic Relative Strength Index (SRSI) lines can also be seen rising upward into the overbought region. The activity on the SRSI indicator suggests that bulls were successful in resisting bearish efforts and, as such, have returned the market to an upward path. However, most of the profit in this market can only be perceived on a short-term basis. Traders can still target around the $59,500 mark for short-term profits.
The Renzo token is one of the new entries on this week’s list of trending cryptos. This token has taken the second spot on the list after displacing Pepe from that spot on last week’s list. As of the time of writing, this token has seen a price decline of 2.41% on the day and a price increase of 10.21% over the past 7 days. It has a market cap of $74.44 million and a trading volume of $12.69 million.
The price chart for this token reveals that its price action is on a downtrend. This opinion stems from the fact that price action continues to trend downward below all the EMA curves. Likewise, the size of the price candle suggests that the market lacks significant participation. Also, the SRSI indicator lines have delivered a bearish crossover below the 80 mark of the indicator. As a result, traders are more likely to keep using bearish crypto signals in this market, as they target lower price levels around the $0.0450 mark.
Current Price: $0.0646
Market Capitalization: $74.44 million
Trading Volume: $12.69 million
7-Day Gain/Loss: 10.21%
Render (RNDR)
Major Bias: Bearish
The Render token takes the third position on this week’s list of trending coins. This token has seen a very minimal price decline today, while it has remained bearish over the past 7 days by a magnitude of 10%. Meanwhile, it has a market cap of $2.40 billion and a trading volume of $97.84 million.
The price chart has only revealed that the market may continue its overall downtrend. Price activity has kept trending downward below the EMA curves. The last price candle on this chart has extended the minimal downward correction seen in this market. Meanwhile, the SRSI indicators are convergent in the overbought region. Technically, this signals that the market may continue its downtrend through the technical support at the $6.00 price level.
Current Price: $6.132
Market Capitalization: $2.40 billion
Trading Volume: $97.84 million
7-Day Gain/Loss: -10%
Biaoquing (BIAO)
Major Bias: Bullish
In the fourth position is the Biaoquing token. The coin displaced Solana from that spot last week. However, this token has recorded an impressive 42.74% price increase in today’s trading and an overall price increase of 27.12% over the past 7 days. Also, the coin has a self-reported market cap of just $14.95 million and a trading volume of $5.14 million.
The token’s price chart has displayed a smooth upside correction through the technical price level of $0.01128. Also, it could be perceived that the market has seen a steady increase in bullish momentum. Consequently, this has propelled the market through all the EMA curves on the price chart. The price candle corresponding to the ongoing session has its body positioned above the 100-day EMA curve. Simultaneously, the SRSI indicator lines can be seen rising steeply into the overbought region. Although the last price candle has revealed that market forces are at play, we can still project that the market may hit the $0.01700 price level.
Current Price: $0.01521
Market Capitalization: $14.95 million
Trading Volume: $5.14 million
7-Day Gain/Loss: 27.12%
Notcoin (NOT)
Major Bias: Bearish
Notcoin has appeared in the last position on this week’s list of trending cryptocurrencies. The coin was in the same spot last week and has fought off other contending coins to retain the same spot on this week’s list. The token has recorded a price decline of 1.81% and a price increase of 41.91% over the past week. Meanwhile, the coin has a market cap of $1.54 billion and a trading volume of $187.12 million.
On the price chart, we can see that price action has been falling in between the EMA lines. Likewise, we can see that price volatility has reduced significantly. The last price candle can be seen as a dash-shaped price candle, and it is red. Also, the SRSI indicator lines have just delivered a bearish crossover while below the 50 level of the indicator. This indicates that the market may extend downward corrections towards the $0.01400 mark.
Current Price: $0.01505
Market Capitalization: $1.54 billion
Trading Volume: $187.12 million
7-Day Gain/Loss: -41.92%
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