Today’s trending altcoin list also includes an important cryptocurrency in the top 10. Some of these altcoins have made notable gains in the last 24 hours. However, one of them experienced a sharp decline. Crypto analyst Victor Olanrewaju discusses these 3 tokens.
First up is the original meme coin Dogecoin (DOGE)!
Dogecoin is outperforming all other cryptocurrencies in the top 10. That’s why it tops the list of today’s trending coins. At the time of writing, the altcoin price is $0.1773. Meme coin has seen an increase of over 14% in the last 24 hours. This increase is linked to increasing speculation that a win by the former US president could increase the price of Dogecoin.
From a technical perspective, DOGE forms a bull flag, indicating that the consolidation period is over. It also signals that the price will continue to rise. In such a case, it is possible for Dogecoin’s price to exceed the local peak at $0.18. On the other hand, a break below the $0.15 support would invalidate this prediction. In this scenario, DOGE is likely to drop to $0.12.
DOGE 4-Hour Analysis. Source: TradingViewSecond ranked altcoin: Ethervista (VISTA)
Ethervista was also on the trending altcoins list yesterday. But unlike its performance on Monday, it is part of today’s trending coins due to a significant recovery. The price of VISTA increased by 15% in the last 24 hours. The altcoin was trading at $47.86 at the time of writing. On the 4-hour chart, altcoins appear to be seeing an increase in buying pressure as evidenced by the recently climbing Accumulation/Distribution (A/D) line. This significant increase suggests that the bulls are protecting VISTA’s price from falling again. If this situation continues, it is possible for the altcoin price to rise to $61.03. However, if the distribution takes over, this prediction will be invalidated and VISTA will likely fall to $21.41.
VISTA 4-Hour Analysis. Source TradingViewLast ranked altcoin: Grass (GRASS)
Last on today’s trending crypto list is Grass, which has been trending for a long time. However, unlike yesterday, it is not trending due to the increase in altcoin price. Instead, the token is swaying sideways, indicating traders’ indecision. This current situation is linked to uncertainty in the market as Bitcoin and other top altcoins remain range bound. From a technical perspective, GRASS bulls need to maintain the $1.55 support to avoid a significant decline. If successful, it is possible for the altcoin price to rise to $1.78. On the other hand, a break below this support level could trigger a significant correction that could sink GRASS to $1.28.
GRASS 1-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.
