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There have been major movements in this week’s list of trending coins. Here, Bitcoin was displaced from the top spot on this list by a newly launched crypto. This forced the king of crypto to take a humbler position as the third coin on the list. Be that as it may, most of the coins on this list of trending cryptos have seen some gains in today’s trading activity, while all of them have recorded moderate gains over the past seven days.
Pixelverse (PIXFI)
Major Bias: Bearish
The Pixelverse token was just launched during the week, about three days ago. Nevertheless, it has displaced the King (BTC) to take the 1st position on this week’s list of trending coins. Its price surged by about 141.31% following its launch but saw a price decline of 29.40% today. Meanwhile, it has a market cap of $42.60 million and a trading volume of $92.84 million.
The price chart for this token has only the 20- and 50-day Exponential Moving Average (EMA) lines, despite being viewed on a 1-hour price chart. Also, the recent price candle can be seen appearing in between these two EMA curves. The Stochastic Relative Strength Index (SRSI) lines can be seen rising slightly upward from the oversold region. At this point, nothing much can be expected from this market, but traders can wait till price action rises past the 20-day EMA line for impetus towards the $0.08000 mark.
Current Price: $0.6236
Market Capitalization: $42.60 million
Trading Volume: $92.84 million
7-Day Gain/Loss: 141.31%
Hooked Protocol (HOOK)
Major Bias: Bearish
The Hooked Protocol token is the second token on this list of trending coins. It has so far recorded a price decline of 1.87% today, while it saw a price increase of 12% over the past seven days. Its market cap as of the time of writing is $89.06 million, with a trading volume of $5.19 million.
Considering the price movement on the token’s price chart, it appears that the market hasn’t seen much upside movement. The last price candle can be seen standing above the 20-day EMA curve. And despite the minimal downward corrections, we can see that price action retains its position above the 20-day EMA line. Simultaneously, the SRSI lines can be seen in the overbought region, with the terminal part of these lines taking a slightly downward path.
Consequently, this hints at the fact that the support at the 20-day EMA line can fail. However, we can see that the support has been held for about five sessions; with the increasing volatility, bears may break it and prices may retrace to the $0.3000 support level.
Current Price: $0.0646
Market Capitalization: $74.44 million
Trading Volume: $12.69 million
7-Day Gain/Loss: 10.21%
Bitcoin (BTC)
Major Bias: Bullish
Bitcoin is third on the list, and it has seen an impressive bullish recovery over the past week. Its price reduced by 1.87% today but has soared by an impressive 12.01% over the week. Furthermore, the token’s market cap is $1.31 trillion, with a trading volume of $27.40 billion.
Yesterday’s trading activity saw price action in this market break through the long-standing resistance at the $65,000 mark. At this point, BTC currently trades above the $66,000 mark. Nevertheless, as previously noted, we can see that price activity continues to occur above the EMA lines. Also, the interactions between the EMA lines seem to be hinting that upside forces may persist.
The SRSI lines can be seen delivering an upward crossover while in the overbought region. Summing up all the indications arising from this market, it appears that the minimal price decline may soon give way to a continued upside correction as traders may continue using crypto signals targeting around the $68,500 mark.
The Aevo token stands in the fourth position on this week’s list of trending coins. It has only seen very minimal price increases of 0.12% in today’s trading activity and a moderate price increase of 16.75% over the past week. Its market cap is $468.66 million as of the time of writing, with a trading volume of $45.93 million.
The price chart shows that price movement is very thin on volatility. Also, we can see that the market has been making lower lows. Likewise, the SRSI indicator lines can be seen to have started falling toward the next technical level at the 80 mark. Despite the tiny correction seen through the last price candle on the chart, it appears that the market may head toward the $0.3000 price level.
Current Price: $0.5530
Market Capitalization: $468.66 million
Trading Volume: $45.93 million
7-Day Gain/Loss: 27.12%
Pepe (PEPE)
Major Bias: Bullish
Pepe is the last coin on this list of trending cryptocurrencies for this week. As of the time of writing, the token has seen a price increase of 1.40% and a more significant price increase of 40.94% over the past week. The token’s market cap is $5.11 billion, while its trading volume is $1.08 billion.
The token’s price chart shows that the market is considerably volatile. The ongoing session has brought a moderate price decline, considering the size of the last price candle on this chart. Also, the 20- and 50-day EMA lines are approaching a bullish crossover below recent trading sessions. Meanwhile, the SRSI indicator line is about to deliver another crossover, which may return the indicator lines to an upward path. Consequently, it appears that the market may still extend an upside correction toward the next technical level of $0.00001400.
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