This past weekend, several “old” cryptocurrencies made a surprising comeback while some meme coins struggled, with only a few exceptions. As a result, one of the long-standing cryptos has resurfaced in today’s trending altcoins.

This shift has also sparked renewed interest across the market, particularly in tokens that have underperformed in recent months. According to CoinGecko, the top three trending altcoins today are Gigachad (GIGA), Luckycoin (LKY), and MAD (MAD).

Gigachad (GIGA)

Since it was mentioned earlier that most meme coins struggled over the weekend, GIGA is trending not due to a price increase. In fact, its value has actually dropped by 20% over the past seven days.

However, it’s part of today’s trending altcoins because popular meme coin analyst Murad continues to highlight it as one of the best tokens to hold. Additionally, the recent decline has sparked discussions in the market, with many considering GIGA to be at a strong accumulation point.

From a technical point of view, the 4-hour chart shows that the Solana meme coin continues to trade within a descending triangle. While this is a bearish pattern, the token is close to the support at $0.36.  

Should the price fall to this support, there is a chance that bulls might defend this region. If this is the case, then the value might bounce toward $0.055. However, if it drops below the support line, GIGA could decline as low as $0.031.

Luckycoin (LKY)

A surprise entry in today’s altcoin trends is Luckycoin (LKY), a project launched in 2013 and recognized as the world’s first meme coin, from which Dogecoin (DOGE) was forked.

LKY is trending today thanks to impressive price action. Trading at $13.90, its price has surged by 65% in the last 24 hours and 420% over the past seven days. This rapid increase is likely fueled by buying pressure, especially given that the altcoin has a limited total supply of just 12.07 million coins.

With such a low supply, even modest buying pressure can drive significant price movements. However, according to the 1-hour chart, LKY’s price could see a notable pullback. This is largely due to the drop in the Relative Strength Index (RSI) reading.

As seen below, the RSI, which measures momentum, has fallen below the neutral 50.00 line. If the rating continues to drop, then LKY could decrease below $10. On the flip side, if buying pressure increases again, then the altcoin could move toward $20.

MAD (MAD)

Last on the list is MAD, which also appeared on the trending altcoins analysis last week. The altcoin is part of today’s list because its price has increased by 73% in the last 24 hours and 332% in the last seven days.

This price rise, alongside a rise in volume, indicates that the market seems to have great interest in MAD. As of this writing, MAD’s price is $0.000045. Meanwhile, the daily charts show that bulls have defended the price from dropping below $0.000036.

With increasing volume and accumulation, the altcoin is likely to climb higher. If that is the case, then MAD can rise to $0.000080. However, a decline below the support could invalidate the prediction, and the token could drop to $0.000032.

The Sandbox (SAND) continued its bullish trend, hitting a new yearly high of $0.86 during Monday’s early Asian session. However, it has since pulled back by 14%, trading at $0.76 at press time.

Despite the recent surge, on-chain and technical indicators suggest that the much-anticipated $1 price target remains unlikely for now. Here’s why.

The Sandbox’s Long-Term Holders Book Profit

SAND’s price hike over the past week has prompted its long-term holders to move their previously dormant tokens around. This is reflected in the surge in the token’s age-consumed metric, which measures the movement of long-held coins. According to Santiment, this skyrocketed to a two-month high of 33.19 billion on Sunday. 

This metric’s rally is notable because long-term holders are not in the habit of moving their coins around. Therefore, when they do, especially during periods of price uptick, it hints at a shift in market trends. Significant spikes in age-consumed during a rally like this suggest that long-term holders are offloading, possibly leading to increased selling pressure.

Notably, the rise in SAND’s Exchange Flow Balance over the past 24 hours confirms the selling activity. According to Santiment, this metric, which measures the net difference between the amount of an asset sent to exchanges and the amount of an asset withdrawn from exchanges over a specific period, has climbed by 162%. 

This reflects an increase in the amount of SAND tokens being deposited to exchanges. It signals that holders are preparing to sell, possibly leading to downward price pressure.

On the daily chart, SAND’s Relative Strength Index (RSI) stands at 87.18, indicating overbought conditions. The RSI measures whether an asset is oversold or overbought, ranging from 0 to 100. Values above 70 signal that the asset is overbought and could face a decline, while values below 30 suggest it is oversold and might rebound.

With an RSI of 87.18, SAND is signaling overbought conditions, putting it at risk of a near-term pullback. If a decline occurs, its price could drop to $0.72. Increased selling pressure at this level may push SAND further down to $0.61, distancing it even more from the sought-after $1 target.

On the other hand, the SAND token price may reclaim its year-to-date high of $0.86 if the selling pressure wanes. This will invalidate the bearish thesis above.

On November 23, Solana’s (SOL) price hit a new all-time high, sparking speculation that the altcoin could rally as high as $300. While that did not happen, recent data shows that Solana traders are betting on a rebound.

Why are traders confident? This on-chain analysis explores whether these positions could deliver gains or if many are at risk of liquidation.

Solana Longs Keep Shorts Out of the Way

Data from Coinglass reveals that Solana’s Long/Short ratio on the 1-hour timeframe has climbed to 1.17. This ratio gauges market expectations, indicating whether most traders hold bearish or bullish positions.

When the ratio falls below 1, it indicates more shorts (sellers) than longs (buyers). Conversely, a ratio above 1 suggests a higher number of traders betting on a price increase compared to those anticipating a decline.

Currently, 54% of Solana traders hold long positions, while 46.17% expect a drop below $255. This indicates a bullish leaning among traders, with more optimism about the token’s price rising than falling.

Additionally, it appears that these traders’ positions could prove profitable, thanks to an uptick in Solana’s Transaction Rate, which is the number of successful transactions processed per second on its blockchain.

An increasing Transaction Rate signals heightened user activity and engagement with the cryptocurrency, while a decline indicates reduced interest. According to Glassnode, Solana’s Transaction Rate has been climbing. If this trend continues, it could propel SOL’s price past its all-time high.

SOL Price Prediction: Upside Potential Remains

On the weekly chart, Solana’s price has surged above the 20 and 50 Exponential Moving Averages (EMAs), key indicators that measure trends. When the price sits above the EMAs, it signals a bullish trend, while a drop below them typically signals bearish momentum.

With SOL currently priced at $255, above both EMAs, the altcoin seems poised to continue its upward direction. The formation of a bull flag further supports this bullish outlook.

A bull flag is a continuation pattern, indicating that once the price breaks out, it’s likely to maintain the prior upward momentum. As seen below, SOL has already broken out of the consolidation pattern and is heading higher. 

As long as the price remains above the upper trendline of the consolidation phase, it could rise toward $325. However, if selling pressure takes hold, this bullish scenario could shift. In that case, SOL might fall below $200.