The highest trending cryptocurrencies at the moment embrace some new entries, in response to information from CoinGecko. Nonetheless, the record additionally features a common suspect, which is trending as a result of just-concluded US election.
On this evaluation. BeInCrypto explains why these altcoins are trending and what may very well be subsequent for costs. That mentioned, the highest three trending altcoins embrace Nym (NYM), MAGA (TRUMP), and Panther AI (PAI).
Nym (NYM)
Nym tops the record of trending cryptocurrencies at the moment on account of its huge worth improve. The undertaking, which is a blockchain-based privateness community utilizing zero-knowledge proofs, has seen its worth climb by 28% within the final 24 hours.
As of this writing, NYM’s worth is $0.075. Nonetheless, on the day by day chart, the Relative Power Index (RSI) has hit 91.79. The RSI measures momentum and reveals if an asset is overbought or oversold.
When the studying is beneath 30.00, the asset is oversold. Then again, when the studying is above 80.00, the asset is overbought, which seems to be the case with NYM. Contemplating this place, the altcoin’s worth would possibly drop to $0.068, particularly if revenue–taking rises.
Learn extra: 12 Greatest Altcoin Exchanges for Crypto Buying and selling in November 2024
Nonetheless, this prediction is likely to be invalidated if shopping for strain continues to rise. In that state of affairs, NYM’s worth may soar towards $0.10.
MAGA (TRUMP)
MAGA is unsurprisingly a part of the highest trending cryptocurrencies at the moment, largely on account of Donald Trump’s victory as US president. Nonetheless, in contrast to NYM, TRUMP’s worth skilled a 20% drawdown within the final 24 hours.
This worth lower implies that Trump’s election was a “sell the news” occasion. In accordance with the day by day chart, the Relative Power Index (RSI) has dropped beneath the impartial 50.00 level, which signifies bearish momentum across the altcoin’s worth.
Ought to the stay the identical, TRUMP’s worth would possibly drop to $1.67.Nonetheless, if shopping for strain will increase, the pattern would possibly change. In that state of affairs, the meme coin’s worth would possibly bounce to $4.83.
Self Chain (SLF)
Self Chain (SLF) is without doubt one of the prime trending cryptocurrencies at the moment, largely on account of its worth improve. At press time, the token of the layer-1 blockchain has elevated by 17% within the final 24 hours and at present trades at $0.29.
In accordance with the 4-hour chart, the Superior Oscillator (AO), which measures momentum, has risen to the constructive area. When the AO is detrimental, momentum is bearish. However when it’s constructive, momentum is bullish.
Learn extra: 7 Scorching Meme Cash and Altcoins which can be Trending in 2024
Subsequently, if momentum stays bullish, SLF’s worth would possibly proceed to extend. If that occurs, the altcoins’ worth may rally to the very best degree of the wick at $0.34. On the flip aspect, an increase in promoting strain may invalidate this prediction, and the worth of altcoin may drop to $0.2
Disclaimer
Consistent with the Belief Challenge tips, this worth evaluation article is for informational functions solely and shouldn’t be thought of monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market situations are topic to alter with out discover. At all times conduct your individual analysis and seek the advice of with an expert earlier than making any monetary selections. Please notice that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.
