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There has been major movement in this week’s list of trending coins. Bitcoin has moved to the top spot of the weekly list, while Notcoin has descended to the last place. Other coins have also made appearances on this week’s list. Let’s further examine each of these coins.
Bitcoin (BTC)
Major Bias: Bearish
Bitcoin has been significantly bearish, as price action has crashed through the support level of $60,000. Meanwhile, the coin has seen a recovery of 2.37% today, while over the past week, the market has fallen by 7.09%. This coin has a market capitalization of $1.12 trillion and a trading volume of $29.70 billion.
Price action has fallen below important landmarks over previous sessions. However, the market has retracted upward after testing the $56,000 mark. Price action appears to have fallen below all the Exponential Moving Average (EMA) lines. Likewise, the 20- and 100-day EMA lines have started crossing each other above price action. Also, the Stochastic Relative Strength Index (SRSI) lines are still trending downward and have fallen below the 50 level of the indicator. Technically, the market can still proceed towards the $55,000 price level.
Pepe has reached the second spot on this week’s list of trending cryptocurrencies. The coin has seen a price increase of 8.48% in today’s trading activity. It has seen a price decrease of 22.85% over the past 7 days. Also, it has a market capitalization of $3.82 billion and a trading volume of $368.35 million.
Downward forces have driven the market further after the resistance at the $0.00001200 mark was held. As a result, price action has fallen below the EMA lines and descended below the $0.00001000 mark. However, the ongoing session has produced minimal profits, still below most of the EMA lines. Consequently, we can see a bullish crossover on the Stochastic Relative Strength Index (SRSI) indicator. If buyers can pull up more effort to initiate a bullish crossover on the SRSI, this may strengthen buyers to use bullish crypto signals targeting the $0.00001200 price level.
Current Price: $0.00000903
Market Capitalization: $3.82 billion
Trading Volume: $368.35 million
7-Day Gain/Loss: 22.85%
Solana (SOL)
Major Bias: Bullish
The Solana token has landed in the third spot on this week’s list of trending coins. Today’s trading activity has seen a price increase of 5.73% and a price decline of 2.83% over the past 7 days. It has a market cap of $64.16 billion and a trading volume of $2.63 billion.
Price action on the daily market rebounded off the support at the $123.21 price line. Ever since then, the market has continued upward in today’s trading activity. The market has progressed further above the 200-day EMA lines, propelling the market towards the 20-day line. As of the time of writing, the token trades at $138.23. The SRSI lines have a downward bearing but a deflection on the leading line of the indicator. This suggests that upward forces are gaining ground. However, it appears that more upside pressure is needed to strengthen bullish convictions in this market. Be that as it may, traders can anticipate a continued upside correction through the $140 mark.
The ZRO token has reached the fourth spot on this week’s trending coin list. The coin has recorded a price increase of 24.22%. Meanwhile, the token has seen a price increase of 45.50%. Also, the token has a market capitalization of $446.09 million and a trading volume of $786.78 million.
Price action has risen past the EMA lines, suggesting that the market is in an uptrend. A sharp downward correction occurred, but it seems that upside forces have risen to the occasion, as evidenced by the appearance of the last price candle on the hourly price chart. Also, the SRSI indicator lines have risen into the overbought region. The lines of the indicator have continued sideways. Combining this with the appearance of the last price candle on the chart, the market is preparing to extend an upside correction toward the $4.500 price level.
Current Price: $4.030
Market Capitalization: $446.09 million
Trading Volume: $786.78 million
7-Day Gain/Loss: 45.50%
Notcoin (NOT)
Major Bias: Bearish
Notcoin hangs in the last position on this week’s list. Considering the available metrics, it could be deduced that the market has witnessed a significant decrease in volatility. This token has only seen a price increase of 0.37% and a decline of 28.83% over the past seven days. This coin has an impressive market cap of $1.06 billion and a trading volume of $288.36 million.
Price activity in this market reveals that there has been a significant decline in price volatility. Also, the token now trades below all the EMA lines. However, the SRSI indicator lines have an upward trajectory while converging. The position of price action and the convergence of the SRSI hint that the market may progress further downward towards the $0.00750 mark.
Current Price: $0.0080
Market Capitalization: $1.06 billion
Trading Volume: $288.36 million
7-Day Gain/Loss: -28.83%
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