Trending Coins for October 21, 2023: BTC, RLB, XRP, SOL, and LOOM

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RESULTS

A token that has really stepped into the spotlight on today’s list of trending coins is Bitcoin, among a host of others. Meanwhile, there have been notable movements among the top 5 tokens on this list. Let’s examine these markets one by one.

Bitcoin (BTC)

Major Bias: Bullish

Bitcoin has garnered significant traction over the week, bringing its price action to focus on a long-standing resistance at $30,000. Throughout the week, BTC’s price increased by a substantial 10.55%, with today’s trading only seeing a minor decline of 0.29%. The market capitalization of this token, as of the time of writing, reached $579.48 billion, with a trading volume of $16.19 billion.

On the daily chart, price action in this market stands confidently above the 21-day Moving Average (MA) curve. Following the strong bullish trend seen in the past session, the current session has started with buyers seeking more profits. Bitcoin is now just inches away from the $30,000 mark. The Relative Strength Index (RSI) indicator has smoothly avoided a reversal, indicating that this cryptocurrency is likely to surpass the $30,000 mark.

Current Price: $29,686
Market Capitalization: $579.48 billion
Trading Volume: $16.19 billion
7-Day Gain/Loss: 10.55%

Rollbit Coin (RLB)

Major Bias: Bearish

Rollbit Coin, a relatively new token, has secured the second spot on today’s list of trending coins. This token has demonstrated impressive performance as its price has steadily gained traction. The token has experienced a slight price decline of 1.33% today but has recorded a significant gain of 26.67% over the past seven days. It also boasts a 24-hour trading volume of $4.68 million and a market capitalization of $533.24 million.

Price action in the RLB daily market remains above the 21-day MA line at a considerable level. However, the current session has brought prices lower. The RSI indicator on this market shows the lines approaching each other for a crossover, though there is still some distance between the two lines. Therefore, prices may still appreciate toward the $0.1800 mark.

Current Price: $0.1597
Market Capitalization: $533.24 million
Trading Volume: $4.68 million
7-Day Gain/Loss: 26.66%

XRP

Major Bias: Bullish

XRP has been trading in the bullish region of the market over the past seven days. Today’s trading activities have seen the token gain an additional 0.58%, with a 6.73% increase over the week. XRP has a market capitalization of $27.63 billion and a daily trading volume of $899.54 million.

The daily chart for this token shows that it has been trading within the $0.5565 and $0.4755 ranges for the medium term. Price action has risen past the MA line, indicating the potential for further upside momentum. Although the RSI line is trending upward, it is currently overextended, which may temper hopes of reaching the $0.5500 mark.

Current Price: $0.5164
Market Capitalization: $27.63 billion
Trading Volume: $899.54 million
7-Day Gain/Loss: 6.73%

Solana (SOL)

Major Bias: Bullish

Solana has displayed impressive price movements recently, breaking and maintaining a medium-term resistance. This token holds the 4th position on this week’s list of trending coins, gaining an additional 4.49% today and a 27.11% increase over the week. At the time of writing, Solana has a market capitalization of $11.71 billion and a trading volume of $853.50 million.

On the daily chart, price action indicates a strong bullish trend in this market. Today’s session suggests that more buyers are joining the trend, with price candles consistently appearing above the 21-day SMA curve. The RSI lines have reached deep into the overbought region but appear ready to keep rising. This implies that traders can anticipate a retracement to the $30.00 price mark.

Current Price: $28.10
Market Capitalization: $11.71 billion
Trading Volume: $853.50 million
7-Day Gain/Loss: 4.49%

Loom Network (LOOM)

Major Bias: Bearish

Following an extended uptrend in the Loom Network market, momentum seems to have cooled. Some short trades have created headwinds, causing the token’s price action to settle just above the $0.1038 price mark. As a result, this cryptocurrency has recorded consistent price declines over the past seven days, totaling 56.44%.

This token has a market capitalization of only $137.75 million but a substantial trading volume of $342.21 million. On the daily chart, a minimal rebound has occurred off the $0.1038 price mark, although price action remains below the MA line. The RSI indicator lines have converged in the oversold region, but a bullish crossover is unlikely to occur immediately as the ongoing session remains bearish. Therefore, prices in this market may continue to fall through the support at the $0.1038 mark.

Current Price: $0.1135
Market Capitalization: $ 137.75 million
Trading Volume: $342.21 million
7-Day Gain/Loss: 56.44%

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