Trending Cryptocurrencies for November 24, 2024: BTC, MAD, XRP, XLM, and KSM

The crypto market saw massive price increases in the past seven days. Consequently, this assisted BTC is eyeing the $100,000 resistance. Similarly, other cryptocurrencies were impacted, giving rise to a new set of coins on this week’s list of trending cryptocurrencies. However, at the moment, most coins are seeing a considerable magnitude of downward retracements, but the future remains bright.

Bitcoin (BTC)

Major Bias: Bearish

Bitcoin has taken its rightful position as the king of cryptocurrencies. However, the king has seen a price decline of 2.0% as of today, while it saw a price increase of 7.37% over the past seven days. The coin’s market cap continues to close in on the $2T mark, as it stands currently at the $1.92T mark. BTC’s trading volume was at $48.67B as of the time of writing.

The daily price chart reveals that the market is currently seeing a moderate downward retracement that has spanned two consecutive sessions. Yet, price action remains at a quite elevated distance above all the Moving Average (MA) lines. Likewise, the Stochastic Relative Strength Index (RSI) lines can be seen falling into the oversold region, with the lead line now at the 43.91 mark. Nevertheless, the position of the last price candle above all the MA lines still underpins the possibility of price action regaining bullish traction through the $100,000 mark soon.

Current Price: $96,822

Market Capitalization: $1.92T

Trading Volume: $48.67B

7-Day Gain/Loss: 7.37%

MAD

Major Bias: Bearish

The MAD token has appeared in the second position on this week’s list of trending cryptocurrencies. As of the time of writing, the coin has recorded a price decline of 5.86% while it soared by 227.67% over the past seven days. It has a market cap of $38.22M and a trading volume of $9.99M.

The token’s daily price chart has revealed that the price of the token pumped off the psychological support at the $0.00001000 price level. During the past three sessions, the market had soared upwards and tested the resistance at the $0.00008000 price level. The past two sessions produced notable price downward retracements, but the ongoing session seems to be pulling the brakes as the market appears as a contracted but bullish price candle. Consequently, this keeps the token at a significant distance above all the MA lines. Also, the Stochastic RSI lines can be seen falling towards the 50 mark of the indicator. However, the appearance of the last price candle on the chart suggests that upside forces are trying to pick up the market already. And, considering the position of price action above all the MA lines, it seems likely that the market will continue upside corrections at least towards the $0.00005000.

Current Price: $0.00003801

Market Capitalization: $38.22M

Trading Volume: $9.99M

7-Day Gain/Loss: 227.67%

XRP

Major Bias: Bearish

The third coin on this week’s list of trending coins is XRP. The coin has recently regained life, causing its price to rise considerably to trade above the $1.00 mark. As of today, the token has seen a price decline of 14.61%, while its price increased by 23.89%. Meanwhile, it has a market cap of $76.70B and a trading volume of $12.69B.

The price chart reveals that the market has risen steadily over an extended period. The last two sessions on the chart have produced moderate downward retracements, plunging the market below the $1.400 threshold. Yet, this token’s price action trades above all the MA lines and at a good distance, for that matter. The Stochastic Relative Strength Index (RSI) indicator lines have taken a bearish trajectory. The lead line can still be seen above the 50 mark of the indicator; therefore, traders can hope for a rebound at the technical support level at the $1.200 price level.

Current Price: $0.002066

Market Capitalization: $879M

Trading Volume: $811M

7-Day Gain/Loss: 4.92%

Stellar (XLM)

Major Bias: Bearish

In the fourth spot on the list is the Stellar coin. The coin burst into life on the 10th of November, after the token’s price action rose past all the MA lines. As of today, the coin saw a price reduction of 0.54% while the market surged by 132.96%. It has a market cap of $14B and a trading volume of $11.33B.

The price chart has revealed that the market had rebounded downward off the resistance at the $0.5500 mark. As a result, the last price candle on the chart can be seen correcting downward, but the token still trades above all the MA ribbons. Also, the Stochastic RSI indicator lines have delivered a bearish crossover at the 80 mark, and the ensuing lines are projected downward, but the indicator lines remain above the 70 mark. Summing up all technical indications, it appears that the market may resume upside correction towards the $0.5000 mark.

Current Price: $0.4480

Market Capitalization: $14B

Trading Volume: $11.33B

7-Day Gain/Loss: 132.96%

Kusama (KSM)

Major Bias: Bearish

And last but not least on this week’s list of trending cryptocurrencies is the Kusama coin. The coin is the only coin, as of the time of writing, to be seeing profits as of the time of writing. The coin holds a price increase of 16.57%, while it saw a price increase of 79.03% over the past seven days. KSM has a market cap of $606.40M and a trading volume of $1.00B.

On the price chart, the token saw a massive price pump in the previous session. As a result, it appears to have drawn bearish attention, resulting in a moderate price retracement in the ongoing session. Nevertheless, buyers are still clinching most of the gains seen in the previous session as the token keeps trading above all the MA lines. Similarly, the Stochastic Relative Strength Index (RSI) line can be seen maintaining a general upward trajectory. Nevertheless, the lead line of the indicator still reflects the seen retracement through the deflection. Therefore, traders can still be positive as the market may resume trending towards the $55 price mark.

Current Price: $40.06

Market Capitalization: $606.40M

Trading Volume: $1.00B

7-Day Gain/Loss: +79.03%

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