Trending Coins for Today, April 30: ARB, BTC, TABOO, SHIB, and CAKE

During the week, some cryptos have reappeared on the list of the most searched tokens on CoinMarketCap. Examples of these tokens include the TABOO and PancakeSwap tokens. Meanwhile, most of them have stayed on this list. Let’s further examine these tokens.

Arbitrum (ARB)

Major Bias: Bearish

Arbitrum seems to have remained in the top spot of this list for about three consecutive weeks. However, this hasn’t translated into any significant gain in its price. This token has witnessed a 5.58% decrease in price over the past seven days but has gained 0.54% over the past 24 hours. The last price candle on this change is green in appearance but seems to show that there isn’t much movement in the market, judging by its size. The Relative Strength Index (RSI) also agrees with the aforementioned opinion, as its line keeps moving sideways. Also, the Moving Average Convergence Divergence (MACD) indicator lines are diving downward, while its bar is pale red. Therefore, price action may retrace the $1.350 mark.

Current Price: $1.38
Market Capitalization: $1,766,624,902
Trading Volume: $234,234,690
7-Day Gain/Loss: 5.58%

Bitcoin (BTC)

Major Bias: Bullish

Bitcoin has been bullish over the past seven days and has gained 6.78% in price. Also today, the token recorded a 0.94% increase in price. On the daily market, BTCUSD price action seems well positioned for a continuation of its uptrend. This is because as of the time of writing, Bitcoin price of $29,285 lies above the middle band of the Bollinger Bands indicator. And this suggests that price action has a significant upside propensity. Additionally, despite the minimal downward retracement, the RSI lines keep trending upward around the 50 level. Meanwhile, the MACD indicator is showing that downward forces are dying out, as the lines of this indicator keep approaching a bullish crossover. As a result, it could be concluded that price action in this market may break the $29,500 mark.

Current Price: $29,285
Market Capitalization: $568,213,435,342
Trading Volume: $12,012,947,174
7-Day Gain/Loss: 6.78%

TABOO TOKEN (TABOO)

Major Bias: Bullish

TABOO TOKEN has been the most bullish of the top 5 most searched cryptos on CoinMarketCap, with a movement of 36.16% over the past seven days. Meanwhile, today, the token has only recorded a 0.47% price increase. TABOOUSD price action had recently hit support at $0.003340 and has subsequently bounced strongly to the upside. At this point, price action in this market seems to be focusing on the resistance at $0.004848. The lines of the RSI are suggesting that upside momentum is increasing, as its leading line trends upward more steeply. Meanwhile, the MACD indicator curves are attempting a crossover above the equilibrium level of the indicator. Consequently, this suggests that price action may extend the uptrend towards $0.004848, breaking it to the upside.

Current Price: $0.004723
Market Capitalization: $48,001,165
Trading Volume: $1,324,658
7-Day Gain/Loss: 36.16%

Shiba Inu (SHIB)

Major Bias: Bearish

Shiba Inu price action continues to consolidate within the narrow range between $0.00001010 and $0.00001079. This market has only recorded a loss of 0.37% over the past seven days and a profit of 1.14% in the past 24 hours. On the daily market, price action looks essentially flat, even with the last green candle. The curves of the RSI lines keep moving sideways below the 20 levels. The behavior of the RSI suggests that this market lacks direction. Furthermore, the MACD curves are now moving sideways below the equilibrium level. The last two bars of this indicator are pale red and of equal length, which shows that price movements are consolidating. Therefore, it can be concluded that price action may at most rise toward the resistance at $0.00001079.

Current Price: $0.00001031
Market Capitalization: $6,083,099,828
Trading Volume: $70,801,444
7-Day Gain/Loss: 1.14%

PancakeSwap (CAKE)

Major Bias: Bearish

PancakeSwap has been significantly bearish over the past seven days, with a price decline of 20.83%. However, the token has witnessed just a 1.32% price fall today. Consequently, this has caused its price action to significantly push the lowest limit of the Bollinger Bands indicator. Subsequently, this resulted in a rebound but was used as a shorting opportunity by traders. The Relative Strength Index (RSI) shows that the upside bounce may still be on. This is because the line of this indicator is still rising upward despite the significant downward retracement. However, the MACD indicator doesn’t look that convincing. This is because its lines are still oriented downward and widely separated. Nevertheless, traders can anticipate that price action will retrace the $2.82 mark.

Current price: $2.69
Market capitalization: $6,083,099,828
Trading volume: $70,801,444
7-Gay Gain/Loss: 20.83%

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