The Altcoins Trending Today
The cryptocurrency market was relatively quiet on Thursday with little activity as many traders were still off the market.
Despite the lack of motivation overall, some altcoins have managed to stand out and caught the attention of investors.
1 layer of coin It is one of the trend altcoins today. It has attracted investors’ attention due to the latest developments in its network. February 3, SUI Foundation Announce SUI Bridge now supports parceled Bitcoin (WBTC), whose users can seamlessly transfer WBTC from Ethereum to SUI.
However, SUI’s price performance remains boring due to the market downturn. It is currently trading at $3.44, pointing to a 5% drop in price over the past 24 hours.
Assessment of price movements in SUI since January 22 shows that it trades below its 20-day exponential moving average (EMA).
The 20-day EMA of an asset measures its average trading price over the last 20 days. It gives the most recent price data a greater weight, making it respond faster to price changes than a simple moving average. This is a bearish signal when the asset’s price is below this key moving average, which indicates that the asset is under downward pressure in the short term.
If Sui’s decline continues to decline, its price may drop to $3. If the Bulls don’t defend this critical support, the price of the coin could drop further to $2.10.
On the other hand, if Sui’s buying pressure is intensified, it could push its price to an all-time high of $5.35.
fart coins (fat coins)
Meme coins based on Solana butt Today is another altcoin trend. It noticed a 27% drop in the past 24 hours and is now trading at $0.50.
At press time, meme assets were below its super trend indicator, highlighting a surge in selling by market participants.
This indicator helps traders determine the direction of the market by placing a line above or below the price chart based on the asset’s price volatility. Like Fartcoin, when the price of an asset is trading on the supertrend line, it indicates bearish momentum, indicating that the market is in a downward trend and sales pressure is dominant.
As sales pressure grows, Fartcoin will extend its decline and drop to $0.16, its next major support level.
Conversely, if the bulls resume market control and drive demand, their price could rise to $1.05.
Overflow (hype)
1 layer of coin hype Today’s investor radar is because its network hyperliquidity continues to outperform Ethereum in revenue. According to Defilama data, 24 hours of superflower Income stall At $1.46 million, it was $542,231.
This marks a surge in user activity on super fluent blockchains. However, the performance of its homegrown coin hype still seems to be in trouble due to wider market troubles. At press time, Altcoin traded at $25.82, noting that the price has dropped by 1% over the past 24 hours.
If the market headwind continues, the price of hype may drop to $25.08.
On the other hand, the rebound could push its price to $27.11.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
