Trending Cryptocurrencies for April 13, 2024: ELONCAT, RNDR, EGO, BTC, and TIA

As we prepare to enter the Bitcoin halving week, the dynamics of the crypto market have taken on a more unified characteristic. On this week’s list of trending cryptocurrencies, all of the coins featured on this list are bearish. Nevertheless, let’s examine each of them.

Elon of Cat (ELONCAT)

Major Bias: Bearish

The ELONCAT token has made it to the top of this week’s list of trending cryptocurrencies. The coin has, as of the time of writing, seen a price decline of 10.23% and a 37.63% price reduction over the past 7 days. Furthermore, the coin has a market capitalization of just $1.22 million and a trading volume of $3.58 million.

On the price chart, it could be seen that the token is on an extended downtrend. However, it appears that at this point, the token is still trading slightly above the lowest support, which was reached between 12:00 and 3:00 pm today. While the downtrend lasts, traders can still hope that price action tests support at the $0.6900 mark.

Current Price: $0.6900
Market Capitalization: $1.22 million
Trading Volume: $3.58 million
7-Day Gain/Loss: 37.63%

Render (RNDR)

Major Bias: Bearish

The RNDR token stays bearish as well, despite occupying the second spot on the list of trending cryptocurrencies. As of today, the coin has seen a price reduction of 7.04% and a 15.10% price decrease over the past week. Meanwhile, the coin can boast a market capitalization of $3.06 billion and a trading volume of $411.34 million. On the daily chart, we can see that the market stays consistent with its bearish characteristics, as seen from the coin’s metrics.

Price action on the price chart continues to deepen toward level 50 of the Fibonacci Retracement Level. Also, the last price candle is below the crossed Guppy Moving Average (GMMA) lines. However, the last price candle can be seen to have appeared off the $7.548 mark after the previous session attempted to break that support level. In addition, the tips of the Stochastic Relative Strength Index (SRSI) can be seen converging in the oversold zone. By implication, this may be pointing out that the market may be preparing for a rebound towards the $9.00 mark.

Current Price: $8.046
Market Capitalization: $3.06 billion
Trading Volume: $411.34 million
7-Day Gain/Loss: 15.10%

EGO (EGO)

Major Bias: Bullish

The EGO token has stayed on this list of trending cryptocurrencies. Although it seems that it moved a step downward, the coin has seen a price decline of 3.66% while trading at $0.06377 as of the time of writing. It has also seen a decline of 15.45% in price over the past week. Its market capitalization stood at $3.60 million, while its trading volume was $4.42 million.

The token’s daily price chart showed that its price action has bounced off the support at the $0.06000 mark. The rebound was minimal but seems to have initiated a crossover on the SRSI indicator. The mentioned crossover can be seen happening in the oversold region. This is hinting that buyers may want to use some bullish crypto signals at this point since more traders may join the trend at this low entry point. Consequently, the market may set out towards the $0.08000 mark.

Current Price: $0.06377
Market Capitalization: $3.60 million
Trading Volume: $4.42 million
7-Day Gain/Loss: 15.45%

Bitcoin (BTC)

Major Bias: Bearish

Bitcoin, the king itself, hasn’t been spared from the wrath of the bearish even as it prepares for the big event. BTC has moved a step upward from its position last week. The coin now occupies the 4th spot on this week’s list of trending cryptocurrencies. As of the time of writing, it is trading at $67,649 and has seen a price decline of 2.55%. Meanwhile, its price was reduced by just 0.52% over the week. Also, the coin boasts a market cap of $1.33 trillion and a trading volume of $44.33 billion.

The price chart showed that price action in this market continues to largely range between $73,000 and $65,000. The current session has printed minimal profits, placing Bitcoin’s price action above the red GMMA lines. Meanwhile, the SRSI indicator lines continue to plunge towards the oversold region. Nevertheless, traders can hope that price action may reach the $70,000 mark at least.

Current Price: $67,649
Market Capitalization: $1.33 trillion
Trading Volume: $44.33 billion
7-Day Gain/Loss: 0.52%

Celestia (TIA)

Major Bias: Bullish

The Celestia token comes last on this week’s list. This token trades at $9.64, while its price declined by 7.82%. It has seen a price reduction of 19.55% over the past 7 days. Nevertheless, it maintains an impressive market cap of $1.71 billion and a trading volume of $332 million as of the time of writing.

On the daily chart, it could be seen that the ongoing session has printed a moderate upside correction. However, price action remains below the GMMA lines. Meanwhile, the SRSI indicator lines have delivered a bullish crossover and have started rising upwards out of the oversold region. This seems to correlate with the behavior of some of the examined coins in this article, suggesting that they may be preparing for a trend reversal. At least this market may reappear above the $10.00 mark.

Current Price: $9.73
Market Capitalization: $1.71 billion
Trading Volume: $332 million
7-Day Gain/Loss: 7.82%

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