Trending Cryptocurrencies for October 20, 2024: KLAUS, DEEP, BTC, SUI, and GOAT

As Bitcoin continues to approach the $70,000 threshold, the crypto market is experiencing a surge in live activity. On this week’s list of trending cryptocurrencies, Bitcoin and Sui have shown considerable consistency, remaining on the list for the past two weeks while other coins were replaced. Let’s dive into the details of each of these coins below.

Klaus (KLAUS)

Major Bias: Bullish

The Klaus token has claimed the top spot on this week’s list of trending cryptocurrencies. Although the coin was launched only a few days ago, it has generated significant buzz. However, today’s price shows a decline of 5.31%, but over the past week, the token has seen an impressive 537.86% increase. It has a market capitalization of $38.21 million and a trading volume of $4.96 million.

This coin’s price action will be analyzed using an hourly price chart since it was recently launched. Market activity has generally trended slightly upward since the launch, despite today’s price decline. Over the recent session, price candles on the chart have been bullish until the current session. However, momentum appears to be slowing down, given the size of the recent price candles. The Stochastic Relative Strength Index (Stochastic RSI) lines are steadily rising toward the 20 mark, which suggests that price action may still approach the $0.04500 level and possibly the $0.05000 level as well.

Current Price: $0.04142
Market Capitalization: $38.21 million
Trading Volume: $4.96 million
7-Day Gain/Loss: 537.86%

DeepBook Protocol (DEEP)

Major Bias: Bullish

The DeepBook Protocol token was also recently launched and has generated substantial attention, securing the second spot on this week’s list of trending cryptocurrencies. Based on available metrics, the coin’s price has risen by 53.06% today, and it has experienced a 495.79% increase over the past seven days. The coin has a self-reported market capitalization of $200.87 million and a trading volume of $134.27 million.

This coin’s price action will be analyzed on a 4-hour chart for deeper insights. Since its launch, the price has remained above the middle limit of the Bollinger Bands. Volatility has increased in recent sessions, pushing the price to the uppermost Bollinger Band. The previous session saw a moderate downward correction, but the ongoing session showed signs of a rebound. Although the Stochastic RSI lines are currently trending downward, traders may remain focused on reaching the $0.09000 price level.

Current Price: $0.08091
Market Capitalization: $200.87 million
Trading Volume: $134.27 million
7-Day Gain/Loss: 495.79%

Bitcoin (BTC)

Major Bias: Bullish

The third spot on this week’s list of trending cryptocurrencies is Bitcoin. BTC has seen a price increase of just 0.43% today and a 9.14% rise over the past seven days. Its market capitalization currently stands at $1.36 trillion, with a trading volume of $13.82 billion.

Price action in this market has maintained an upward trajectory. However, volatility appears to have significantly decreased, as indicated by the smaller recent price candles. Nevertheless, price activity continues to hover near the upper limit of the Bollinger Bands. The last price candle remains bullish but relatively small, while the Stochastic RSI lines remain in the overbought region, suggesting that upward momentum could persist, possibly pushing the price toward the $69,000 level.

Current Price: $68,435
Market Capitalization: $1.36 trillion
Trading Volume: $13.82 billion
7-Day Gain/Loss: +9.14%

Sui (SUI)

Major Bias: Bullish

The fourth coin on the list is Sui, which has achieved a price increase of 1.29% today, despite a 4.49% price decline over the past seven days. As of the time of writing, Sui’s market capitalization stands at $5.75 billion, with a trading volume of $436.67 million.

Despite the recent bearish price retracement, the token has managed to stay above the $2.00 threshold. Price action remains above the middle band of the Bollinger Bands, and the indicator itself continues to trend upward despite the recent downturn. Moreover, the Stochastic RSI lines are somewhat tangled in the oversold region, but the upward movement at the terminal part of the lines suggests the market may climb back toward the $2.250 price level.

Current Price: $2.09
Market Capitalization: $5.75 billion
Trading Volume: $436.67 million
7-Day Gain/Loss: -4.49%

Goatseus Maximus (GOAT)

Major Bias: Bullish

Lastly, the GOAT token rounds out this week’s list of trending cryptocurrencies. Recently launched, the coin has a market capitalization of $288.64 million and a trading volume of $248.14 million. Despite a daily price decline of 42.01%, the coin has seen a 188.69% increase over the past week.

Examining this token’s price chart reveals that the market has recently surged to life. The coin traded above the uppermost Bollinger Band for six consecutive sessions with notable volatility. However, today’s trading has pulled the market back below the upper limit of the Bollinger Bands. The Stochastic RSI lines remain above the 70 mark, but their characteristics suggest the market may trend lower. Therefore, bearish traders may want to watch for potential rebounds near the $0.2000 level by using crypto signals with that price mark as a target.

Current Price: $0.2900
Market Capitalization: $288.64 million
Trading Volume: $248.14 million
7-Day Gain/Loss: 188.69%

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