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The crypto market seems to be taking on more lively characteristics this weekend, primarily attributed to the improved sentiment around Bitcoin. Its price action has continued upward after breaching the medium-term $60,000 resistance level. Along with Bitcoin, other cryptocurrencies have shown impressive performance, as reflected in this week’s list of trending cryptos. Let’s examine each of them below.
Major Bias: Bearish
The newest token on the block, Catizen, tops this week’s list of trending cryptos. This coin has seen a price reduction of about 10.62% today, while its market capitalization stands at $280.17 million with a trading volume of $665.75 million. Meanwhile, the token’s total price increase of 10.41% over the past seven days has been wiped out. The coin is so new that it is being studied on a 30-minute chart.
On the price chart, price activity has regressed below all the Guppy Multiple Moving Average lines. Additionally, the Stochastic Relative Strength Index (Stochastic RSI) is still on a downward path and remains below the 50 level. Furthermore, the color of the last price candle on the chart suggests that bears are in the lead and may cause further price decline toward the $0.900 threshold.
Current Price: $0.9000
Market Capitalization: $280.17 million
Trading Volume: $665.75 million
7-Day Gain/Loss: -10.41%
SwissCheese (SWCH)
Major Bias: Bearish
SwissCheese comes second on the list, with its price increasing by only 0.41% in today’s trading. Over the past seven days, it has seen a 5.60% price increase. Its market capitalization is $25.60 million, with a modest trading volume of $4.64 million.
The price chart reveals that this token has maintained moderate volatility in the past, but volatility has increased recently, allowing the market to break a multi-month resistance. Currently, its price action has retraced to lower levels but remains above the middle limit of the Bollinger Bands (BB) indicator. The ongoing session remains bearish but appears to be consolidating near the $0.6000 price threshold. Additionally, the Stochastic RSI lines are bulging too fast into the oversold region. Nevertheless, the position and behavior of the last price candle hint that the market may head upward, possibly toward the $0.8000 threshold.
Current Price: $0.6688
Market Capitalization: $25.60 million
Trading Volume: $4.64 million
7-Day Gain/Loss: 5.60%
Bitcoin (BTC)
Major Bias: Bearish
As mentioned earlier, Bitcoin has resurfaced above the $60,000 threshold. Its price action has continued to rise, which has earned it the third spot on this week’s list of trending cryptos. Today, its price has increased by 0.82%, while over the past seven days, it has seen a 5.41% price increase. As of the time of writing, Bitcoin’s market capitalization is $1.24 trillion, with a trading volume of $88.86 billion.
Looking at the price chart, the price activity has risen to the upper limit of the BB indicator. The session has only printed a very minor downward rebound from that point. The Stochastic RSI lines have risen deep into the overbought region, with the lines now converging at the 100 level of the indicator. Based on the current trend, price action seems ready to continue its upward correction toward the $64,000 mark.
Current Price: $63,200
Market Capitalization: $1.24 trillion
Trading Volume: $88.86 billion
7-Day Gain/Loss: 5.41%
Sui (SUI)
Major Bias: Bullish
Sui comes fourth on this week’s list of trending cryptos, recording a 0.82% price increase today and a significant 45.23% increase over the past seven days. Its market cap, as of the time of writing, stands at $3.98 billion, with a trading volume of $587.48 million.
Price activity in this market has continued its bullish run, pushing the price action against the upper limit of the BB indicator. The current session is taking place outside the upper limit of the BB indicator. Similarly, the Stochastic RSI lines are dragging sideways at the 100 mark. Therefore, traders may still use crypto signals targeting the $1.600 threshold level.
Current Price: $1.4860
Market Capitalization: $3.98 billion
Trading Volume: $587.48 million
7-Day Gain/Loss: 45.23%
LayerZero (ZRO)
Major Bias: Bullish
Last but not least on this week’s list of trending cryptos is the LayerZero token. Its price has declined by 4.31% in today’s trading, though it saw a 10.98% increase over the past seven days. Its market cap stands at $477.85 million, with a trading volume of $154.39 million.
On the price chart, the ongoing session is bullish, with the price hovering near the upper limit of the BB indicator. The current price candle has a more prominent body than the previous one, reflecting that buyers are maintaining a solid lead. The Stochastic RSI lines are at 97.77 and are trending sideways. This suggests that price activity may extend toward the $4.500 threshold and possibly head toward the $5.00 mark.
Current Price: $4.150
Market Capitalization: $477.85 million
Trading Volume: $154.39 million
7-Day Gain/Loss: 10.98%
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