Altcoins That Reached All-Time Highs Today
The cryptocurrency market experienced a surge today, with total market capitalization (TOTAL) reaching new highs. Leading cryptocurrency Bitcoin (BTC) also climbed to new all-time highs, further fueling the market’s bullish momentum.
This surge has propelled several altcoins to new heights, with three cryptocurrencies—Moca Coin (MOCA), DeepBook Protocol (DEEP), and Fartcoin (FARTCOIN)—leading the way.
MOCA
MOCA, the native token of Animoca Brands’ Mocaverse, hit an all-time high of $0.42 today before experiencing a correction. Nonetheless, the coin maintains a bullish bias.
The Moving Average Convergence Divergence (MACD) indicator supports this sentiment. Currently, MOCA’s MACD line (blue) is above its signal line (orange), indicating bullish momentum.
MACD measures the relationship between two moving averages of an asset’s price, using MACD lines, signal lines, and histograms to identify trends and momentum. When the MACD line is above the signal line, it indicates upward momentum, indicating that the asset price may continue to rise.
If this momentum holds, MOCA price may attempt to break above the $0.21 and $0.26 resistance levels. Clearing these levels will pave the way for the coin to return to its all-time highs. On the other hand, if profit-taking intensifies, its price may drop to $0.17.
DeepBook Protocol (DEEP)
DeepBook Protocol is a decentralized trading platform that allows users to execute transactions directly on the chain. Its native token DEEP is another altcoin that has climbed to an all-time high today. The coin hit $0.11 in early Asian trade on Monday before giving back some of its gains. As of this writing, Altcoin Trading The price is $0.10, still up 16% in the past 24 hours.
DEEP’s Aron indicator confirms the strength of the current uptrend. As of press time, its Aron ascending line is 100%, while its descending line is 0%.
The Aroon indicator determines the strength and direction of an asset’s price trend by measuring the time since the asset’s highest high (Aroon Up) and lowest low (Aroon Down) over a specified period of time. Like DEEP, new highs were recently reached when the Aron Ascending Line was at 100%, indicating strong upward momentum and a potential continuation of the bullish trend.
If demand for DEEP continues to grow, it will revisit all-time highs and try to surpass that level. However, a surge in selling will invalidate this bullish prediction. A surge in selling pressure could send the price of DEEP down to $0.08.
FARTCOIN
Meme Coin FARTCOIN is another altcoin that is trading at an all-time high today. The coin briefly traded at a peak price of $0.89 before a correction. It currently trades at $0.75, down 16% from its peak.
At current prices, Meme coin is sitting above the support formed at $0.68. If this support level holds, it will push the price of FARTCOIN to all-time highs and potentially beyond.
However, if the bulls fail to hold this price level, the coin’s price could plummet to $0.55.
Disclaimer
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