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The list of the top five trending coins for this week has arrived, with a considerable number of coins from last week dropping out. Meanwhile, Bitcoin has moved two steps up to now stand as the top trending crypto. This happened as the king of all crypto was able to breach the speculated $68,500 threshold. Without wasting time, let’s examine each of the coins on this list.
Bitcoin (BTC)
Major Bias: Bullish
Bitcoin has risen to the top of this list of trending cryptocurrencies today after its price increased by over 1.70% and 3.29% over the past seven days. The king boasts a market cap of $1.36 trillion and a trading volume of $23.19 billion. Moving to the price chart, it can be seen that price action has risen past $68,000. Even the earlier targeted resistance at $68,500 has been breached. However, by inspection, one could perceive that price action hasn’t found support above the $68,000 threshold.
Likewise, it appears that the market is under pressure as an upper shadow has appeared above the last price candle here. Nevertheless, the coin still trades above all the Exponential Moving Average (EMA) curves. Simultaneously, we can see that the Stochastic Relative Strength Index (SRSI) lines recently performed a bullish crossover, and the resulting lines are now rising upwards. Therefore, traders may want to target the $70,000 mark from here.
The Baby Trump token has reached the second spot on this week’s trending crypto list. It has seen a price increase of 16.98% today and 20.78% over the week. It also boasts a trading volume of just $4.5 million and a market cap of $3.75 million. After the market experienced a steep downward retracement to around $0.005000 in June, price action in this market has been making higher moves.
However, price action has been moving at a slow pace up an upward-sloping trend line. The last price candle here stands above the 20- and 50-day EMA lines and the $0.01000 mark. Also, we can see that the SRSI indicator lines are rising upwards following a bullish crossover below the 50 level of the indicator. Therefore, it appears that traders can still use crypto signals targeting the $0.01500 mark.
Current Price: $0.01111
Market Capitalization: $4.5 million
Trading Volume: $3.75 million
7-Day Gain/Loss: 20.78%
Ethereum (ETH)
Major Bias: Bullish
The Ethereum token has made it to this week’s list of trending coins. This coin isn’t a regular visitor here but seems to have gained some hype from the comment on its ETF. While the token’s price has decreased by 5.92% over the past 7 days, it has seen a price increase of just 1.25% in today’s trading. It also has a market cap of $396.12 billion and $11.82 billion as its trading volume. Since last November, the token seems to have been in a long-term uptrend.
The market has been volatile at some points but maintains an overall uptrend. Price action has rebounded off the drawn upside-sloping trend line but remains below the 20-, 50-, and 100-day lines. Also, the SRSI lines have fallen deep into the oversold zone of the SRSI. At this point, the market remains under considerable pressure. Yet, traders may want to lean more on the fundamental side to target the $3,500 mark.
The Super Trump token seems to be shaking off bearish sentiment. This opinion stems from the fact that the coin has seen a price increase of 6.98% today and a 1.69% decrease over the week. Yet this token has a market capitalization of $22.50 million and a trading volume of $3.97 million. This token went bullish since the previous session.
However, the ongoing session has seen a decent increase in bullish momentum, considering the size of the last price candle on this chart. The mentioned price candle has placed the token above the 20- and 50-day EMA lines. Also, the SRSI lines have turned sideways in an attempt to deliver a bullish crossover. Going by price behavior, it appears that the market is preparing to cross above the 61.80 Fibonacci Retracement level at the $0.01308 mark.
Current Price: $0.01221
Market Capitalization: $22.50 million
Trading Volume: $3.97 million
7-Day Gain/Loss: 1.69%
Solana (SOL)
Major Bias: Bearish
Solana has made it to the 5th spot on this week’s list of trending cryptocurrencies. The token, as of the time of writing, only holds a fraction of the profit it has seen in the daily. Solana’s daily market has a price increase of 0.86% and 8.41% over the week. Meanwhile, the token has a market cap of $85.30 billion and a trading volume of $2.29 billion.
Today’s trading has seen the market correct off the resistance at the $188.74 price level. The corresponding price candle to the ongoing session appears like a red inverted hammer price candle. Technically, this signals a trend reversal. At the same time, the SRSI lines have continued downward after failing to deliver a bullish crossover above the 50 mark of the indicator. Consequently, this signals that the market may fall further, at least toward the 20-day EMA line at the $165.30 price level.
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