The Altcoins Trending Today – February 19
The cryptocurrency market has dropped sharply over the past 24 hours, with its total market value falling by $32 billion.
However, despite the large decline, some altcoins have violated the trend and attracted strong investor interest. Among the popular altcoins on Wednesday are Story (IP), Sonic (S), and Bittensor (Tao).
Story (IP)
Story (IP) is the popular Altcoin today, and despite the gradual expansion of the market, it still maintains its upward trajectory. On Tuesday Ranking As the highest earner in the market, it soared over 20%, surpassing other leading assets. The IP was trading at $2.42 at press time, noting that the price increase in the past 24 hours was 20%.
Chaikin currency flows (CMF) evaluated on the four-hour chart confirm the enhanced demand for Altcoin. As of this writing, it has an uptrend of 0.20. CMF indicators measure how funds flow into and out of assets. When its value is above zero, capital inflows are high as purchasing activity exceeds selling.
If IP’s purchase pressure remains high, its price may revisit its all-time high of $3.
However, if market participants start selling their IP tokens, the price may drop to $1.44.
Sonic (Previous. FTM)(S)
soundformerly known as Boy friend (FTM) is another altcoin today. It also shocked the general market trend, climbing 10% in the past 24 hours. At press time, S was $0.65, the highest since January 25.
The readings of the S/Dollar One-Day Chart show that AltCoin has traded on the uptrend line since February 8. This pattern is formed when the asset’s price is consistently low, connecting at least two or more upwardly sloping support points. This is a bullish trend, indicating the potential for continued buying pressure and further price appreciation.
If the S demands the Rockets, its price could reach $0.76.
On the other hand, if the bullish momentum weakens, the price may drop to $0.50 below the uptrend line.
BITTENSOR (TAO)
Based on artificial intelligence Token Bittensor (Tao) is one of the most searched Altcoins today. Currently, it is worth $398.80, pointing to a 9% increase in price over the past day.
An assessment of Bull/Bear Power confirms that its buyers dominate the spot market. This is reflected in its Elderly Ray Index, which returned positive value for the first time this week.
The index measures the power of bulls and bears in the market. When its value is positive, this means the bull can control it. This marks strong buying pressure in the Dao market and suggests the potential for further upside.
If the rise continues, Tao can Climb to $452.20.
Conversely, if traders start selling, their price may drop to $355.80.
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.
