This week’s trending cryptocurrencies
This week, the cryptocurrency market saw some uneven gains, with some cryptocurrencies maintaining their upward momentum while others experienced a slight setback.
Conflux
Conflux (CFX) is currently in an uptrend, with the price of the cryptocurrency forming higher highs and higher lows. Although it reached a peak at $0.24 before retreating, it has remained in an upward movement since December 4, 2023, with a high of $0.22. However, buyers have been unsuccessful in holding the price above $0.22, causing the cryptocurrency to fall below the moving average lines. Currently, CFX is trading at $0.21, and the uptrend will resume once the resistance is broken.
Current price: $0.213
Market capitalization: $1,057,645,135
Trading volume: $72,534,145
7-day gain: 28.50%
Ronin
Ronin (RON) has resumed its positive trend after breaking above the historic price of $2.40. At the time of writing, it has reached a high of $2.75. The coin has recovered from its previous decline, and its upward movement has been gradual due to the presence of doji candlesticks. The uptrend has remained above the moving average lines, making RON the second best performing cryptocurrency.
Current price: $2.76
Market capitalization: $2,767,076,863
Trading volume: $29,202,676
7-day gain: 23.23%
SATS
The price of SATS (1000SATS) is currently falling below the moving average lines. It has dropped from a high of $0.0009000 to a low of $0.0005245. The altcoin’s downtrend is likely to continue as the 21-day SMA resists the uptrend. If SATS fails to rise above the moving average lines, it may fall back to its previous low of $0.0003590.
Current price: $0.0005237
Market capitalization: $1.1B
Trading volume: $88.97M
7-day gain: 22.80%
Sui
Sui (SUI) has resumed its positive trend and has risen above the historical price level of $1.10. It reached a high of $1.65 before falling back, but it continues to follow a pattern of higher highs and higher lows. Doji candlesticks have influenced its price action, and the uptrend remains above the 21-day SMA. Currently, SUI is worth $1.46, making it the coin with the fourth highest value.
Current price: $1.47
Market capitalization: $14,630,676,228
Trading volume: $762,171,667
7-day gain: 21.44%
THORChain
THORChain (RUNE) is in the process of reversing its previous downtrend, although it is currently falling again after reaching a high of $7.00. The negative momentum has eased as it broke above the 21-day SMA but remains below the 50-day SMA. The cryptocurrency is caught between the moving average lines and is likely to fluctuate until it breaks above the 50-day SMA. However, if it loses the support of the 21-day SMA, it could break down. Currently, RUNE is priced at $4.45.
Current price: $12.28
Market capitalization: $2,174,178,451
Trading volume: $239,495,805
7-day gain: 19.15%
Hot Take: Conclusion
In summary, this week’s trending cryptocurrencies have shown varying levels of performance. While some have maintained their upward momentum, others have faced setbacks. Conflux, Ronin, SATS, Sui, and THORChain are among the top-performing altcoins. It is important to keep an eye on their price movements and market trends to make informed investment decisions in the crypto market.
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