Trending Cryptocurrencies for January 20, 2024: MANTA, API3, SAVM, PYTH, and MYRO

Most of the prominent cryptocurrencies have failed to appear on this week’s lists of trending cryptocurrencies. In fact, it appears that the MANTA token has capitalized on initial hype, which has assisted it in reaching the top spot on this list. Meanwhile, MYRO seems to have moved two steps down to now occupy the fifth position on this list. Without further ado, let’s examine each of these tokens for potential profit-making opportunities.

Manta Network (MANTA)

Major Bias: Bullish

The Manta Network token is a newly launched crypto, but it has capitalized on its initial hype to arrive at the top spot on this week’s list of trending cryptocurrencies. The coin has seen an additional price increase of 10.21% in the past 24 hours, while it saw just a 4.60% price increase in the past 7 days. This reveals that the token has seen more price increases in the past 24 hours than in the past 7 days. This is mostly due to the fact that it is newly launched. It has a market capitalization of roughly $595 million and a trading volume of $575 million.

The market chart for this token reveals that its price action maintains a bullish path, considering the appearance of the recent price candle on this chart. The last price candle on this market now sits above the Guppy Multiple Moving Average (GMMA) curve. Likewise, the Moving Average Convergence Divergence (MACD) lines are now trending sideways above the equilibrium level with respect to recent gains in the market. Nevertheless, it should be noted that the size of successive price candles seems to suggest that bullish momentum may be declining, yet price action here may still breach the $2.450 mark at least.

Current Price: $2.3783
Market Capitalization: $595 million
Trading Volume: $575 million
7-Day Gain/Loss: 4.60%

API3

Major Bias: Bullish

The API3 token is one of the cryptocurrencies that has been around for a while now. It has made its way to the second spot on this week’s list of trending cryptocurrencies. Its market has seen a huge price increase of roughly 52% in the past 24 hours, while in the last 7 days, its price has only increased by roughly 46%. The token also has a market cap of $206.85 million and a trading volume of $149.42 million. The token’s price has increased significantly in today’s trading session, but with such a price increase comes the attention of bear traders who are taking profits.

This is further expanded via the upper shadow that has appeared on the last price candle on the chart. With respect to the sudden price increase, a green bar has appeared above the equilibrium level of the MACD indicator, indicating that the upside momentum in the ongoing session is quite strong, as indicated by the appearance of a green bar above the equilibrium level. Although the market still looks promising concerning hitting higher levels around $2.700 in the coming sessions, such ambition should be nurtured with caution.

Current Price: $2.5452
Market Capitalization: $204.85 million
Trading Volume: $149.42 million
7-Day Gain/Loss: 52%

 

SatoshiVM (SAVM)

Major Bias: Bearish

The SAVM token has landed in the third spot on this week’s list of trending cryptocurrencies. The coin has displaced the MYRO token from this spot. Considering the available metrics, it could be seen that this market has witnessed a sustained bearish momentum. Consequently, this saw the token printing consistent losses both in the past 7 days (10.34%) and in the past 24 hours (10.34%).

This token also has a self-reported market capitalization of $57.21 million and a trading volume of $118.23 million. It could be perceived that the token is a newly launched coin, and on the trading chart, it has been dipping steadily, making lower lows. Price action in the ongoing session has a downward trajectory and threatens to see lower levels. Traders can brace for price action to reach lower price levels around the $7.50 price level.

Current Price: $8.300
Market Capitalization: $57.21 million
Trading Volume: $118.23 million
7-Day Gain/Loss: 10.34%

Pyth Network (PYTH)

Major Bias: Bullish

The Pyth Network token stands in the fourth position on this list. The coin has seen an impressive additional price increase of 11.50% in the past 24 hours and a 28.63% price rise in the past 7 days. Meanwhile, its market capitalization stands at $552.33 million, with an $81.02 trading volume. Price activity on the token’s daily chart suggests that the token is on a steady upward path. It could be seen that as price action bounced off the Fibonacci Retracement level of 61.80, and bulls have been in cruise control of price action in the market as it rises steadily upwards.

The ongoing session has placed the token above the crossing of two sets of the GMMA indicator lines. To that effect, a solid green bar has appeared above the equilibrium level of the MACD indicator. Likewise, the leading MACD indicator line has risen past the equilibrium level, which further attests to the growing bullishness in this market. Consequently, traders can anticipate that price action will surpass the $0.4000 mark.

Current Price: $0.3725
Market capitalization: $552.33 million
Trading Volume: $81.02 million
7-Day Gain/Loss: 28.63%

Myro (MYRO)

Major Bias: Bullish

The Myro token has dropped two steps from the third position on last week’s list of trending coins to now occupy the last spot on this week’s list of trending cryptocurrencies. Despite this, the token has yet to deliver an impressive performance in the last 24 hours. The token has experienced a further price increase of 19.14% in the past 24 hours, while it has seen a 67.44% price increase in the past 7 days. Furthermore, the coin has a market cap of $231.48 million and a trading volume of $82.88 million.

On the daily chart, it could be seen that the token’s uptrend has maintained its upward path since price action crossed above the GMMA indicator lines. Price activity in this market has remained above the green set of the indicator line. Simultaneously, the MACD indicator bars have been appearing solid green for about five sessions now and are progressively getting taller. Technical indicators in this market suggest that bullish momentum is on the rise in this market. The price in this market may tend towards the $0.3000 mark shortly.

Current Price: $0.2472
Market Capitalization: $306.42 billion
Trading Volume: $24.72 billion
7-Day Gain/Loss: 14.06%

Do you want to take your trading to the next level? Join the best platform for that here.