Trending Coins for Today, April 16: ARB, ID, FTT, BTC, and SHIB

This week’s top 5 trending coins on the CoinMarketCap list feature some new entries, while others have been around for a while. The majority of these coins have recorded some gains in the past 24 hours, and there are some possibilities that more profits may be recorded in this market. Let’s commit more study to these coins for more insight.

Arbitrum (ARB)

Arbitrum has surprisingly retained the top spot on this list for about three weeks in a row. This crypto is now worth $1.6364, has a market capitalization of $2,168,909,373 and a trading volume of $2,116,703,708, and has recorded gains of 14.05% and 43.18%. From the above statistics, it could be observed that the coin has recorded a significant amount of its seven-day gain today. Currently, the ARBUSDT price is retracing downwards, as revealed by the last price candle here. Likewise, the Relative Strength Index (RSI) indicator lines are showing that this market is on a downward retracement, as their lines continue to fall into the oversold region. Nevertheless, since price action remains above the middle limit of the Bollinger Bands, it stands that the price may regain upside traction toward the $1.700 price mark, at the Fibonacci level of 23.60 or 38.20.

Current Price: $1.6364
Market Capitalization: $2,168,909,373
Trading Volume: $2,116,703,708
7-Day Gain/Loss: 43.18%

SPACE ID (ID)

In the second position is the SPACE ID token. The coin’s price has moved upwards today by 13.29%, with a trading volume of $789,892,286 and a market capitalization of $233,023,085. Also, over the past seven days, ID has recorded a profit of 81.52%. Considering the IDUSDT 4-hour market chart, we can see that the coin has experienced massive upside retracement in recent times. However, price action in this market seems to have reached a very strong resistance level. And due to this price action, the stock is currently retracing lower levels. The last price candle here has plunged price action to $0.7961 from $0.8148. Nevertheless, price action stays very far above the middle band of the Bollinger Bands and above some notable support levels at $0.7591 and $0.6503. Meanwhile, RSI curves are falling deeper into the oversold region. However, traders can anticipate an upward retracement at the $0.7591 or $0.6503 price marks.

Current Price: $0.8148
Market Capitalization:  $233,023,085
Trading Volume: $789,892,286
7-Day Gain/Loss: 81.52%

Bitcoin (BTC)

Bitcoin has eventually broken the $30,000 resistance price mark, and is now worth $30,295. With a market capitalization of $586,755,410,063 and a trading volume of $13,453,152,983, it stands in the 3rd position on this week’s most sought-after coin on CoinMarketCap. In the past 24 hours, Bitcoin’s price has further increased by 0.38%, while it has recorded a total of 8.25% in price increases in the past 7 days. On the daily market, price action has retraced minimally downward. With price action still very much above the Moving Average curve of the Bollinger Bands indicator, there is a higher possibility of the price continuing its uptrend. Meanwhile, the lines of the Stochastic RSI indicator show that price action is poised for more upside moves. The RSI lines have yet to deliver another bullish crossover in the overbought region, which suggests that the uptrend may still be on. Consequently, prices here may rise toward the $30,550 mark soon.

Current Price: $30,295
Market Capitalization: $586,755,410,063
Trading Volume: $13,453,152,983
7-Day Gain/Loss: 8.25%

FTT (FTX)

Over the past seven days, the FTT coin has been significantly bullish. This is because crypto has increased in price by 60.42% over the past seven days. However, in the past 24 hours, the coin has witnessed a price decrease of 0.43%. Meanwhile, its trading volume is $58,287,919, while its market capitalization stands at $666,520,147. On the daily chart, after price action nearly broke through the $2.50 price mark, the headwind swung back into action and pushed the price back to $2.014 support. At this point, although price action remains above an important support level, technical indicators are aligned to predict the same trend. The Moving Average Convergence Divergence (MACD) indicator bars are now pale green, while the RSI curves are retracing downwards. Both indicators are suggesting that price action may eventually fall below the $1.90 price mark soon.

Current Price: $2.014
Market Capitalization: $666,520,147
Trading Volume:  $58,287,919
7-Day Gain/Loss: 60.42%

Shiba Inu (SHIB)

Shiba Inu remains at the bottom of the list as it did last week, with a trading volume of $190,702,672, a market capitalization of $6,686,628,573, and a current price of $0.00001143. Also, Shiba Inu has recorded most of its 7-day profit today, as its price increased by 2.19% within the past 24 hours. On the daily chart, green price candles can be seen forming and rising upwards above the middle band of the Bollinger Bands indicator. Also, the Bollinger Bands seem to be contracting, while the RSI curves have just performed a bullish crossover and are rising upwards. Also, the MACD curves are rising upward and above the equilibrium level of the indicator. Consequently, all indicators on this chart are agreeing on one thing, and that is that price action is heading toward the $0.0000200 level.

Current price: $0.00001143
Market capitalization: $6,686,628,573
Trading volume: $190,702,672
7-Gay Gain/Loss: 3.69%

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