Donald Trump achieved a landslide victory in the US presidential elections yesterday. As a result of this, many cryptocurrencies experienced significant price increases. Some of them have managed to become among the trendiest altcoins today. However, it is worth noting that not all trending altcoins experienced price increases. Crypto analyst Victor Olanrewaju discusses 3 trending altcoin projects.
First ranked altcoin: Ethervista (VISTA)
VISTA is the native token of the project that emerged as a competitor to Solana’s Pump.fun. The token is part of today’s most trending altcoins. The token’s rise is based on two key factors. First, the platform is witnessing a rapid increase in activity. Additionally, a significant amount of liquidity is flowing. Secondly, the altcoin price has increased by a significant 6.88% in the last 24 hours. The token is trading at $52.05 at the time of writing. This price increase is due to strong buying pressure as well as the recent price resurgence that has pushed Ethereum’s value above $2,800.
On the technical side, the Awesome Oscillator (AO) reading has brightened green histogram bars. AO is a momentum indicator that compares recent market movements to historical trends and helps measure the strength of a market’s momentum. It is possible for VISTA to rebound to $59.92 with AO’s potential return to positive territory. In a strong bullish scenario, the token is likely to rise to $76.50. However, if the momentum fails to fully transition into bullish territory, the prediction will be invalidated and a drop to $33.07 is on the cards.
Ethervista 4-Hour Analysis. Source: TradingViewIn second place is Donald Trump-themed MAGA (TRUMP)
It is no surprise to active market participants that MAGA is among the top trending altcoins today, especially given its association with Donald Trump. As a meme coin linked to Trump’s victory yesterday, many were expecting a rally. However, contrary to these expectations, MAGA has experienced a 30% decline in the last 24 hours. This shows that the market’s reaction is not compatible with the expected increase after the election.
On the daily chart, Bullish Bearish Strength (BBP) has fallen into negative territory. When BBP rises, it means the bulls are in control and prices may rise. However, since it is negative, it shows that the bears determine the altcoin price direction. If this situation remains the same, MAGA could continue to decline, especially now that the US election is over. In this case, it is possible for the altcoin price to drop to $1.66. However, the trend may change as buying pressure may increase ahead of Trump’s inauguration. If this happens, TRUMP’s price is likely to rise to $7.73.
MAGA Daily Analysis. Source: TradingViewLast ranked altcoin: Grass (GRASS)
Grass is a Decentralized Physical Infrastructure Network (DePINK) project. The token is once again one of the most trending altcoins today. Like previous times, the altcoin is trending due to price movement. GRASS price increased by 223% in the last 30 days. Moreover, it has seen a 42% increase in the last 24 hours. This price increase is linked to the buying pressure the altcoin is seeing and holders’ decision not to book profits.
At the time of writing, GRASS is changing hands for $2.60. It is also just inches away from breaking its previous all-time high. It can be seen on the 4-hour chart that it initially attempted to surpass $2.79 but encountered resistance at $2.72 which pulled the price back down. But now the bulls are trying to make the same move. In its current form, this move is likely to be successful. If this is the case, it is possible for the altcoin price to rise to $3.03. On the other hand, another rejection would drive the token price down. In such a case, it is possible for GRASS to drop to $1.91.
GRASS 4-Hour Analysis. Source: TradingViewThe opinions and predictions in the article belong to the analyst and are definitely not investment advice. cryptokoin.comWe strongly recommend that you do your own research before investing.
