Trending Cryptocurrencies for December 16, 2023: BONK, RDNT, RATS, ICP, and SATS

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RESULTS

Very similar to what was experienced in last week’s list of trending cryptocurrencies, this week’s list contains tokens that have seen some notable gains in today’s trading activities. Some of the tokens on this list still have a promising outlook, even at this point. Let’s further examine each of them.

Bonk (BONK)

Major Bias: Bullish

The Bonk token has experienced a price decline of 13.80% in today’s trading activities. Meanwhile, the price of this token has risen by roughly 67% in the past 7 days. As of the time of writing, this crypto has a market capitalization of $1.50 billion and a trading volume of $1.30 billion. This token sits in the top spot on this week’s list of trending cryptocurrencies.

On the daily market, this token seems to have regained an upside trajectory after its price action bounced off support at the $0.00002166 price level. The mentioned price level lies at a significant distance from the 21-day Moving Average (MA) line. In accordance with this, the lines of the Moving Average Convergence Divergence (MACD) indicator have continued to trend upward above the equilibrium level. Likewise, the MACD’s bars are still green in appearance for the ongoing session, despite the price contractions that have occurred. Consequently, this indicates that price action in this market will approach the $0.00003000 mark.

Current Price: $0.00002464
Market Capitalization: $1.50 billion
Trading Volume: $1.30 billion
7-Day Gain/Loss: 67%

Radiant Capital (RDNT)

Major Bias: Bullish

The RDNT token has seen an additional price increase of 1.14% in today’s trading activities. Meanwhile, the token has seen just a 2.77% price increase over the past seven days. Consequently, this suggests that today’s trading activities have been considerably profitable for this token. Furthermore, it has a market capitalization of $116.20 million and a trading volume of $61.51 million as of the time of writing. Nevertheless, this token occupies the second spot on this week’s list of trending cryptocurrencies.

Considering its price chart, it could be observed that, recently, this token’s price action has been obtaining higher support. The lowest one is at $0.1923, and another is at the $0.2234 price level. The newly obtained support by this token seems to lie at the same level as the 21-day MA line at the $0.2727 price mark. The last price on this chart corresponding to the ongoing session has shown significant gains considering its size. Likewise, it lies above the 21-day MA, which indicates that it could rise further. The MACD lines can be seen maintaining their upward path above the equilibrium level. The last bar of the MACD indicator is also solid green in appearance. Therefore, traders can still project that this market will approach the $0.3150 mark soon.

Current Price: $0.2931
Market Capitalization: $116.20 million
Trading Volume: $61.51 million
7-Day Gain/Loss: 2.77%

rats (ORDINALS)

Major Bias: Bullish

The rats token has seen roughly just a 10.14% price decline today but has seen a more overwhelming price increase of 594.19% over the past seven days. This token also has a self-reported market capitalization of $431 million and a trading volume of $341 million. This token now stands in the third spot on this week’s list of trending coins.

This token was only recently launched, so the examined price chart is a 4-hour market chart. It could be seen that this market has bounced off the resistance price level at the $0.0006000 mark. This resulted in a downward correction, which brought the price closer to the $0.0004000 mark. However, the ongoing session has bounced off that support level, such that this token now trades at the $0.4356 mark. The MACD lines are now converging, which suggests a decline in bullish momentum. However, the corresponding price candle for the ongoing session suggests that buyers are trying to avert a decisive bearish crossover. At this point, traders can anticipate a retracement of the $0.0005000 mark.

Current Price: $10.14%
Market Capitalization: $431 million
Trading Volume: $341 million
7-Day Gain/Loss: 594.19%

Internet Computer (ICP)

Major Bias: Bullish

The ICP token stands in the fourth position on this list of trending cryptocurrencies. Its price has risen by 33.32% today and by 64.64% over the past week. The market capitalization of this token has been printed at $4.03 billion, with a trading volume of $399.51 million. The price chart has revealed that the market is highly volatile in the upside direction. Here, it could be seen that the corresponding price candle representing recent trading sessions has a progressively larger price candle. The price candle representing the ongoing session is the biggest. The MACD indicator is also showing that bullish momentum is still strong, as the line of the indicator continues to ramp upwards. Although the ongoing session has seen a minor downward rejection, it appears that bulls are still strong enough to punch their way through the $0.9500 mark.

Current Price: $9.180
Market Capitalization: $4.03 billion
Trading Volume: $399.51 million
7-Day Gain/Loss: 33.32%

SATS (1000SATS)

Major Bias: Bullish

The SATS token witnessed a downward correction of 15.60% during today’s trading session. Meanwhile, it has seen a price increase of 21.16% over the past 7 days. The 100SAT token has a market capitalization of $1.58 billion and a trading volume of $528.14 million. This token has managed to appear in the fifth position on this list of trending coins. Price action in this market had ramped up significantly after breaking the resistance at the 0.0000003000 mark around the 12th of this month. The token’s price movements soon faced a rejection at the $0.0000009000 mark; this saw the token correct downward toward the $0.0000007000 mark.

However, the ongoing session seems to have pulled the break above the 0.0000007000 mark, bringing the token to trade at the $0.0000007640 mark. The MACD indicator has delivered a bearish crossover, and its bars are still appearing below the equilibrium level and solid red. However, the corresponding price candle for the ongoing session may have halted a downward correction. And given the fact that trading activities are still occurring above the 21-day MA line, we can still anticipate an upside and a revisit of the $0.0000009000 mark.

Current Price: $0.0000007640
Market Capitalization: $1.58 billion
Trading Volume: $428.14 million
7-Day Gain/Loss: 15.60%

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