Trending Coins for November 4, 2023: MEME, SOL, TABOO, MATIC, and TIA

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RESULTS

A newly launched token has taken the lead on this week’s list of trending coin after Bitcoin failed to extend its impressive run convincingly past the $35,000 mark. Most of the coins from last week have been replaced by other cryptos.

Memecoin (MEME)

Major Bias: Bullish

Memecoin has claimed the top spot on this week’s list of trending cryptocurrencies. Reviewing the trading history, it’s evident that this token is newly launched and requires analysis within a smaller timeframe, such as 30 minutes. Currently, the token has seen a price increase of 3.35% today and a seven-day decline of 6.6%.

The market capitalization stands at $222 million, with a trading volume of $494.89 million. Despite intermittent downward corrections, the token shows a steady uptrend. The latest trading session brought an upside correction, gradually rising through the Guppy Multiple Moving Average curves. The Moving Average Convergence Divergence (MACD) indicator lines suggest a sideways trend. The pale red bars indicate that bearish momentum is waning, implying a potential rise towards the $0.02600 mark.

Current Price: $0.02494
Market Capitalization: $222 million
Trading Volume: $494.89 million
7-Day Gain/Loss: 6.60%

Solana (SOL)

Major Bias: Bullish

Solana has significantly ascended in this week’s list of trending coins, moving from the fifth to the second spot. It recorded an impressive 5.08% increase today and a 31.49% surge over the week. With a market capitalization of $17.60 billion and a trading volume of $1.60 billion, Solana rebounded following a correction near the $40.00 mark on the daily market chart.

The ongoing session recovered some losses through the previously breached support at the $40.00 mark, indicating potential support at $40.41 on the green GMMA line. The indicator line is rising above the equilibrium level, while the bars are now pale green but still above the equilibrium level. Therefore, the token may still reach the $44.00 mark.

Current Price: $41.39
Market Capitalization: $17.60 billion
Trading Volume: $1.60 billion
7-Day Gain/Loss: 31.49%

TABOO TOKEN (TABOO)

Major Bias: Bullish

The TABOO TOKEN has generated moderate profits during today’s trading session. This token has observed an impressive 26.81% price increase today and a much larger 91.60% over the past seven days. It has achieved a market capitalization of $23.53 million and a trading volume of $1.32 million. Today’s trading saw the TABOO TOKEN reach a high for the month. Moreover, this token holds the prospect of reaching even higher price levels.

The ongoing session persists above the Guppy Multiple Moving Average (GMMA) lines. Additionally, the Moving Average Convergence Divergence (MACD) indicator lines continue to rise above the equilibrium level. The MACD bars are progressively growing taller and remain solid green, indicating that bullish strength is still viable. The price action may still aim for the $0.002500 mark.

Current Price: $0.002204
Market Capitalization: $23.53 million
Trading Volume: $1.32 million
7-Day Gain/Loss: 91.60%

Polygon (MATIC)

Major Bias: Bearish

Polygon has secured the fourth position on this week’s list of trending coins. Today’s trading session witnessed the token gain a further 0.40% increase, resulting in a 7.82% rise over the past seven days. Polygon has a market capitalization of $6.18 billion and a trading volume of $179.58 million. Price activity in the MATIC daily market has consistently advanced past the $0.6500 resistance price level. As a result, this token has traded above the $0.6500 mark for the past four sessions.

Despite the minimal downward correction in the ongoing session, price action remains above the GMMA lines, potentially capturing more momentum for further upside corrections. The MACD indicator lines are still slightly ascending above the equilibrium level. However, the bars of the MACD are now pale green, suggesting a decline in bullish momentum. Nonetheless, traders might still anticipate an upward correction towards the $0.7000 mark.

Current Price: $0.16674
Market Capitalization: $6.18 billion
Trading Volume: $179.58 million
7-Day Gain/Loss: 7.82%

Celestia (TIA)

Major Bias: Bearish

The Celestia token is a newly launched cryptocurrency that has secured fifth place on this week’s trending crypto list. The token boasts a market capitalization of $340.34 million and a trading volume of $118.54 million at the time of writing. It has witnessed an additional price increase of 3.64% today and a 14.87% increase over the past seven days. Price action in the daily market can be observed below the intersecting set of the Guppy Multiple Moving Average (GMMA) lines. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator lines continue to fall toward the equilibrium level, with their bars now appearing pale red. However, the latest price candle on the chart is green and has emerged below the GMMA line.

This may potentially pose strong resistance to upward progress in this market, signaling a bearish sentiment for traders. Hence, traders might expect a downward correction towards the $2.300 mark shortly.

Current Price: $2.398
Market Capitalization: $340.34 billion
Trading Volume: $118.54 million
7-Day Gain/Loss: 14.87%

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