Trending Coins for November 18, 2023: KAS, TIA, SOL, BONK, and BTC

Most of the trending coins from last week’s list have maintained their positions in the top five most sought-after tokens. However, there has been a significant shift in their positions, with only one token making an entry into this list. Let’s delve deeper into each of these tokens.

Kaspa (KAS)

Major Bias: Bearish

The Kaspa token has claimed the first position on this week’s list of trending coins. According to available metrics, the token has gained about 4.69% today, with a weekly price increase of 54.98%. It has also achieved a market capitalization of $2.92 billion and a trading volume of $183.80 million. However, the price chart reveals that while bulls were dominating, bears have started to emerge, nearly erasing profits gained in the previous season.

Additionally, the Average True Range (ATR) lines are trending sideways in response to the recorded losses in the ongoing session. Nevertheless, the fact that trading activities are still above the middle limit of the Bollinger Bands indicator suggests that bulls still have a fighting chance and may push prices back toward the $0.1400 mark.

Current Price: $0.1288
Market Capitalization: $2.92 billion
Trading Volume: $183.80 million
7-Day Gain/Loss: 54.98%

Celestia (TIA)

Major Bias: Bearish

The Celestia token has gained significant traction, moving from the fifth position to the second spot on this week’s list of trending coins. At the time of writing, the token has recorded a gain of 16.09% in the last 24 hours and an 86.40% profit over the past seven days. It has also achieved a market capitalization of $971.34 million and a trading volume of $605.95 million. However, it is essential to note that this is a relatively new token, making it suitable for analysis in a smaller time frame.

On the price chart, a downward correction occurred after price activity surpassed the uppermost limit of the Bollinger Bands indicator. Nonetheless, trading persists above the middle limit of the Bollinger Bands indicator at the $6.16 mark. Similarly, the ATR indicator line remains sideways despite the recorded losses. Therefore, price action may continue upwards towards the $7.50 mark, given that it stays above the middle limit of the Bollinger Bands.

Current Price: $6.57
Market Capitalization: $971.34 million
Trading Volume: $605.95 million
7-Day Gain/Loss: 16.09%

Solana (SOL)

Major Bias: Bearish

Solana now occupies the third position on this week’s list, descending from the first position last week. This token has incurred a loss of 3.58% while experiencing a price increase of 1.91% during the week. Furthermore, it has achieved a market capitalization of $23.99 billion and a trading volume of $2.84 billion today. In the daily market, it is evident that price action reversed shortly after surpassing the $64 mark, leading to a subsequent downward correction that has brought the token’s price below the $56 mark at the time of writing.

Nevertheless, price action remains above the $51.61 mark and above the middle band of the Bollinger Bands. In line with the downward correction, the ATR indicator is now pointing downward, indicating a building downward momentum. Therefore, traders can anticipate a downward correction to reach the $51.61 mark.

Current Price: $55.61
Market Capitalization: $23.99 billion
Trading Volume: $2.84 billion
7-Day Gain/Loss: 1.91%

Bonk (BONK)

Major Bias: Bearish

The Bonk token is new to the list of trending coins, securing the 4th position on this week’s list. BONK has experienced a price decline of 2.05% and an increase of 14.39% over the past seven days. Its market capitalization has reached $147.83 million, with a trading volume of $75.56 million in the last 24 hours. This token recently gained significant traction as its price action saw a notable uptick. However, there has been an interruption to the upside retracement in this market. Nevertheless, the price action remains above the middle limit of the applied Bollinger Bands indicator.

Additionally, the ongoing session has printed a moderate additional price decline, considering the size of the price candle representing the session. Trading, however, remains above the Bollinger Band’s MA, while the Relative Strength Index (RSI) curves are falling into the oversold region. Therefore, it could be predicted that this market may fall closer to the $0.000002000 mark.

Current Price: $0.000002641
Market Capitalization: $147.83 million
Trading Volume: $75.56 million
7-Day Gain/Loss: 14.39%

Bitcoin (BTC)

Major Bias: Bearish

Earlier this week, Bitcoin visited the $38,000 mark, and some may have speculated a breach of the $40,000 mark. However, such hopes have been cut short. The king of crypto has recorded a price decline of 0.22%, with a more significant decline of 2.01% over the week. Also, BTC has witnessed a market capitalization of $711.12 billion and $22.02 billion in trading volume.

On the daily chart, price action aligns with the overall downward correction initiated when price activity tested the $38,000 resistance level. At this point, price action remains above the $36,000 price level, situated above the middle band of the Bollinger Bands indicator. Meanwhile, the RSI lines seem hyperextended, with the lines now deep in the oversold region. Therefore, traders can anticipate an upside rebound off the $36,000 mark towards the $37,000 mark.

Current Price: $36,259
Market Capitalization: $711.12 billion
Trading Volume: $22.02 billion
7-Day Gain/Loss: 2.01%

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