Trending Coins for Today, June 17: PEPE, DAD, ADA, MAGIC, and BTC

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RESULTS

Today’s list of the top 5 trending coins on CoinMarketCap seems to suggest that the recent hardship imposed on the crypto market may be subsiding. Most of the coins here have experienced some gains in the past seven days. Let’s examine each of these coins one after the other.

Pepe (PEPE):

Major Bias: Bullish

The Pepe coin tops today’s list of trending coins on CoinMarketCap after being dethroned in the previous weeks. Also, it could be seen that the coin has seen more gains today than in the past 7 days. Pepe Coin has recorded a gain of 9.99% in 24 hours while seeing a gain of only 4.48% in 7 days. It also has a trading volume of $185,893,367 and a market capitalization of $383,690,171. With the level of upside movement in this market, price action can be seen trying to break up resistance at $0.0000009939. The last price candle here can be seen to have found support above the 9-day Moving Average curve. Meanwhile, the Moving Average Convergence Divergence (MACD) Curve is still below the equilibrium level but continues to show that downward momentum is losing momentum. Trades can therefore anticipate that prices may extend gains toward the $0.00000099100 mark.

Current Price: $0.000009793
Market Capitalization: $383,690,171
Trading Volume: $185,893,367
7-Day Gain/Loss: 4.48%

DISAPPOINTED DAD (DAD)

Major Bias: Bearish

The DISAPPOINTED DAD coin sits in the 2nd position on this week’s list of trending coins on CoinMarketCap. The coin has experienced a price decrease of 33.24% today and a more significant one of 53.23% in the past 7 days. It also has a daily trading volume of $925,222 and a market capitalization of $250,870. The bearish nature of this coin’s price action is further expressed on the daily chart, as its price action stayed mostly under the downwardly sloping 9- and 21-day MA curves over the past 7 days. Also, the MACD indicator on this chart is revealing that downward forces are strong and may be getting stronger in this market. This can be seen as the last bar of this indicator has regained a solid red appearance, which suggests that downward forces are strengthening. Therefore, short traders can anticipate the retracement of the price support at the $0.01300 price level.

Current Price: $0.01326
Market Capitalization: $250,870
Trading Volume: $925,222
7-Day Gain/Loss: 33.24%

Cardano (ADA)

Major Bias: Bullish

Cardano has made its way to the third position on this week’s list of trending coins on CoinMarketCap. ADA has experienced a price increase of 4.49% today while gathering a more significant one of 7.86% over the past 7 days. Furthermore, this coin has a market capitalization of $9,357,549,648 and a twenty-four-hour trading volume of $208,207,492. For about 12 trading sessions ago, price action in this market was significantly bearish, as it crashed through multiple support levels. However, since the previous trading session, it appears that the support that was reached may be strong enough to hold. In the ongoing trading session, price action has shown a more significant upside retracement. Price action remains under the MA curves. Also, the MACD lines seem to be reflecting that downward forces are weaker than in previous trading sessions, as bars are now pale red and getting shorter below the equilibrium level. Traders can anticipate a retracement of the $0.2780 price mark.

Current Price: $0.2680
Market Capitalization: $9,357,549,648
Trading Volume: $208,207,492
7-Day Gain/Loss: 7.86%

MAGIC (MAGIC)

Major Bias: Bullish

The MAGIC token sits in the 4th position on this list of trending coins on CoinMarketCap. Furthermore, it has seen an 8.58% price increase today, which is 3.63% more than what it has seen in the past 7 days (4.95%). This token also has a twenty-four-hour trading volume of $25,535,775 and a market capitalization of $154,511,035. Meanwhile, on the daily market, price action seems to have successfully aborted further downward retracements in this market. Price action has been successful at this since 7 trading sessions ago but has failed to significantly break out of its sideways movement. Nevertheless, since the last trading session, some significant upside retracements seem to have been developing in this market. The current price level of this coin is now sitting above the 9-day Moving Average curve. Also, the effect of downward forces continues to reduce, which will give way to more upside impetus at this point. At this point, it’s more likely that price activity will break the resistance at the $0.8000 mark.

Current price: $0.7139
Market capitalization: $154,511,035
Trading volume: $25,535,775
7-Day Gain/Loss: 4.95%

Bitcoin (BTC)

Major Bias: Bullish

The king of crypto (Bitcoin) has claimed the 5th spot on this week’s list of trending coins on CoinMarketCap. The price of this coin seems to have experienced a price increase of 4.08%. This stated 24-hour gain has exceeded the 7-day price increase of 3.04%. It has a market capitalization of $514,362,426,035 and a trading volume of $17,414,524,894. The price action of this coin has found support at the 38.20 Fibonacci Retracement level and has retraced further upwards from there. With the aid of the last price candle here, prices have reached the $26,496 mark. Also, the last price candle on this chart can be seen already testing the 21-day MA line after surpassing the 9-day MA. Additionally, the Relative Strength Index (RSI) line can be seen ramping toward the overbought region, with the leading line already surpassing the 70 levels of the indicator. Indications arising from this market suggest that upside momentum is strong and prices may retrace the $27,000 mark shortly.

Current price: $26,496
Market capitalization: $514,362,426,035
Trading volume: $17,414,524,894
7-Day Gain/Loss: 3.04%

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