Trending Cryptocurrencies for November 9, 2024: BTC, DRIFT, GRASS, SXCH, and SOL

A new week is ending, and yet another list of the top 5 trending cryptocurrencies emerges. This week, Bitcoin has maintained its dominance at the top spot, while other coins have made significant moves. Let’s delve into each coin in detail.

Bitcoin (BTC)

Major Bias: Bearish

Bitcoin has regained prominence in the crypto world, topping this week’s list of trending cryptocurrencies. Today, BTC saw a slight price increase of 0.20%, while it has gained 10% over the past seven days. Its market cap has reached over $1.5T with a trading volume of $45.86B.

On the daily chart, the token continues to trade above the $76,000 price level, specifically at $76,327. Recent price candles suggest that upward momentum is slowing down. The latest candle indicates bearish pressure, and the Stochastic RSI lines are still in the overbought region. While a potential upward move toward $77,000 is possible, the current trend seems bearish.

Current Price: $76,327

Market Capitalization: $1.51T

Trading Volume: $45.86B

7-Day Gain/Loss: +10.37%

Drift (DRIFT)

Major Bias: Bullish

DRIFT is the most bullish coin on this list of trending cryptocurrencies, securing the second spot. It has seen a 57.51% price increase today and a 220.05% increase over the past seven days. The coin has a market cap of $389.10M and a trading volume of $2.86B.

The latest price candle on the chart indicates increased volatility. However, the candle has a smaller body, suggesting a potential slowdown in momentum. The price is significantly above the Moving Average (MA) lines, which are converging. Despite the recent price decline, the Stochastic RSI lines remain steeply upward-sloping in the overbought region. This suggests that the market may continue its upward trend towards the $2.00 price level.

Current Price: $1.534

Market Capitalization: $389M

Trading Volume: $2.86B

7-Day Gain/Loss: 220.1%

Grass (GRASS)

Major Bias: Bearish

The newly launched Grass token has secured the third spot on this list of trending cryptocurrencies. Today, the market has seen an 18.80% price decline, while it has gained 81.17% over the past 7 days. It boasts an impressive market cap of $702.94M and a trading volume of $481.36M.

The 4-hour chart shows a steady decline in price, with consecutive bearish candles. The latest price candle has placed the price just below the 20-day MA line, while other candles are below. The Stochastic RSI lines have reached the oversold region and are now moving sideways. This suggests that prices may fall further towards the $2.500 level.

Current Price: $2.868

Market Capitalization: $702.94M

Trading Volume: $481.36M

7-Day Gain/Loss: 81.17%

SolarX (SXCH)

Major Bias: Bullish

SolarX takes the fourth position on this week’s list of trending cryptocurrencies. The coin has seen a 6.21% price decline today, while it has gained 151.38% over the past 7 days. It has a market cap of $1.27M and a trading volume of $3.70M.

The market has recently experienced significant volatility. After rebounding from the $0.0100 support level, the market saw a significant price increase two sessions ago. Today’s session has seen a slight downward correction, but the price remains above the MA lines. The latest price candle is green, indicating bullish pressure. The Stochastic RSI lines have crossed above the 80 level, suggesting strong upward momentum. Traders can utilize bullish crypto signals targeting the $0.0400 price level.

Current Price: $0.0291

Market Capitalization: $1.27M

Trading Volume: $3.70M

7-Day Gain/Loss: +151.38%

Solana (SOL)

Major Bias: Bearish

Solana secures the last position on this week’s list of trending coins. It has seen a 2.52% price decline today, while it has gained 21.26% over the past 7 days. It has a massive market cap of $93.81B and a trading volume of $4.23B.

The daily price chart shows that the coin has found support above the $185.00 level. The token has been trading above this level for the past two sessions. However, today’s trading has resulted in minimal losses. Nevertheless, SOL continues to trade above all MA lines and the $185.00 support level. The Stochastic RSI lines are in the overbought region, but a bearish crossover seems unlikely due to the distance between the indicator lines. Consequently, traders can maintain a bullish stance towards the $210 and $220 levels.

Current Price: $198.51

Market Capitalization: $93.81B

Trading Volume: $4.23B

7-Day Gain/Loss: +21.26%

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