Market

Which 3 Lead the List?

Published

1 week ago

October 28, 2024

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Over the weekend, most altcoins struggled to make significant gains. Yet, as a new week kicks off, one of the top trending cryptocurrencies today has managed to see a price increase, while the other two are down over the past 24 hours.

According to CoinGecko, today’s trending altcoins are KOALA AI (KOKO), Goatseus Maximus (GOAT), and Sui (SUI). Here’s a look at what’s driving their current popularity and what could lie ahead for their prices.

KOALA AI (KOKO)

Last week, KOALA AI appeared on the top trending altcoins list due to a notable price increase. Today, KOKO’s price is up 28% in the last 24 hours and is trending due to hype around the AI+meme coin narrative.

Despite the uptrend, the KOKO/USDT daily chart shows that the altcoin could lose some of its gains. This is because the Relative Strength Index (RSI), which measures momentum, has dropped.

Typically, a decline in this indicator suggests bearish momentum. If this trend continues, the KOALA AI’s price could drop to $0.0000035.

Read more: 10 Best Altcoin Exchanges In 2024

Trending altcoins KOALA AI price analysis — KOALA AI Daily Analysis. Source: TradingView

However, if profit-taking subsides, this might not happen. Instead, the crypto’s price might jump to $0.0000086.

Goatseus Maximus (GOAT)

GOAT has been among the top trending cryptocurrencies today for some time. This is largely due to the success of Truth Terminal, the AI that became a crypto millionaire. Following the development, GOAT’s price has increased by 78% within the last seven days.

Over the last 24 hours, the altcoin’s value has decreased. However, it continues to trend due to widespread speculation that the market cap could soon hit the $1 billion milestone. From a technical perspective, the Balance of Power (BoP) shows that bulls are determined to help the value climb higher.

For context, the BoP shows if there is a lot of buying power or if sellers are in control. When the reading decreases, sellers are dominant. However, on the 4-hour chart, the indicator’s reading has jumped, suggesting that the price could go higher.

GOAT price analysis — Goatseus Maximums 4-Hour Analysis. Source: TradingView

If sustained, GOAT’s value might bounce to $0.90. On the flip side, rejection at $0.71 could invalidate this prediction and send the price down to $0.48.

Sui (SUI)

Sui’s position among today’s top-trending cryptocurrencies is likely no surprise to market observers as it’s been a top performer among altcoins over recent months. However, the main reason for SUI’s current spike in attention is its upcoming token unlock, where over $100 million worth of SUI tokens will enter circulation.

Token unlock events often trigger volatility as they can significantly impact the token’s supply dynamics. Increased circulation can put downward pressure on price if holders opt to sell, yet heightened attention could also drive demand as traders anticipate potential price swings

Also, if demand is lower than supply around that time, the price is likely to fall. Currently, SUI’s price is at $1.73 after declining by 17% within the last seven days. On the daily chart, the altcoin has formed a head and shoulders pattern, which is a bullish to bearish pattern.

Sui price analysis — Sui Daily Analysis. Source: TradingView

Considering the upcoming supply shock, SUI’s price is likely to fall further. In this scenario, SUI’s price could drop to $1.44. However, if bulls come in with a lot of buying pressure, the price might reverse, and it could surpass $2 in the process.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

XRP Price Momentum Reignites As Bitcoin Hits New ATH: Is a Major Rally in Sight?

Published

56 mins ago

November 6, 2024

admin

XRP price is gaining pace above the $0.5050 support zone. The price is rising and might even aim for a move above the $0.5500 resistance.

XRP price is eyeing a decent increase above the $0.5250 zone.
The price is now trading above $0.5220 and the 100-hourly Simple Moving Average.
There was a break above a connecting bearish trend line with resistance at $0.5100 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair could gain bullish momentum if it settles above the $0.5350 resistance zone.

XRP Price Climbs 4%

XRP price remained supported above the $0.4880 level. It formed a base and started a fresh increase above $0.5050 like Bitcoin and Ethereum.

There was a move above the $0.5120 and $0.5200 resistance levels. There was a break above a connecting bearish trend line with resistance at $0.5100 on the hourly chart of the XRP/USD pair. Finally, it tested the $0.5365 zone. A high is formed at $0.5368 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5368 high.

The price is now trading above $0.5200 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $0.5350 level. The first major resistance is near the $0.5365 level.

The next key resistance could be $0.5450. A clear move above the $0.5450 resistance might send the price toward the $0.5500 resistance. Any more gains might send the price toward the $0.5665 resistance or even $0.5720 in the near term. The next major hurdle might be $0.5840.

Another Decline?

If XRP fails to clear the $0.5350 resistance zone, it could start another decline. Initial support on the downside is near the $0.5250 level. The next major support is near the $0.5155 level or the 50% Fib retracement level of the upward move from the $0.4948 swing low to the $0.5368 high.

If there is a downside break and a close below the $0.5155 level, the price might continue to decline toward the $0.5050 support in the near term. The next major support sits near the $0.500 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level.

Major Support Levels – $0.5250 and $0.5155.

Major Resistance Levels – $0.5350 and $0.5500.

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Market

Bitget’s New Token Listing Portal Demands Quality, Not Fees

Published

2 hours ago

November 6, 2024

admin

Bitget, a leading crypto exchange, opened a transparent new listing application portal for project teams. This comes shortly after several other crypto exchanges face allegations of charging huge fees for token listing.

Bitget will not charge project teams to receive a listing, but the exchange demands high standards for all listed tokens.

Bitget’s Token Listing

Crypto exchange Bitget opened a new application portal for token listings, according to a press release shared with BeInCrypto. Bitget promised that the portal would include enhanced due diligence and a rigid review process for token listings and generally aim to provide project teams with transparency. This comes one day after a major token listing controversy from Binance and Coinbase.

Specifically, several token developers and community leaders described incidents where these exchanges asked for exorbitant listing fees. These include an alleged demand for 15% of one team’s total token reserve or similar expenses to receive a listing. Major exchange listings can significantly increase token valuation and trade volume, leading some to pay high premiums.

Exchange Performance Highlights. Source: Mo Ezeldin

In this controversy, several parties from both sides have advocated for the growing decentralized exchange sector. However, Bitget is a centralized exchange, and it’s using this new listing portal to claim it’s a transparent one.

“[We] at Bitget strive to create a platform where crypto gems can truly shine. Bitget prioritizes projects with strong innovation, network effects, and ecosystem value. Our listing and security team work closely to make sure we bring trustworthy projects on the platform. We aim to… [drive] continuous innovation and prosperity in the crypto industry,” Bitget CEO Gracy Chen stated.

Bitget emphasized that it does not charge any fees during the listing application process, whether to begin or as payment for assessment services. The firm also claims to collaborate with project teams in several steps and monitor tokens after the official listing. Underperforming tokens may even face delisting if they fail to meet quality standards continually.

However, the process isn’t easy. Above all, Bitget asks potential clients to report any improper conduct or conflicts of interest from company representatives.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

Is a Bigger Rally on The Way?

Published

3 hours ago

November 6, 2024

admin

Este artículo también está disponible en español.

Ethereum price found support near $2,350 and started a fresh increase. ETH is rising and might aim for a move above the $2,580 resistance.

Ethereum started a fresh surge above the $2,500 resistance zone.
The price is trading above $2,500 and the 100-hourly Simple Moving Average.
There was a break above a key bearish trend line with resistance at $2,460 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could gain bullish momentum if it settles above $2,580 and $2,620.

Ethereum Price Restarts Increase

Ethereum price found support near $2,350 and started a fresh increase like Bitcoin. ETH was able to climb above the $2,420 and $2,450 resistance levels to move into a positive zone.

It cleared the 50% Fib retracement level of the downward move from the $2,583 swing high to the $2,357 low. Besides, there was a break above a key bearish trend line with resistance at $2,460 on the hourly chart of ETH/USD.

Ethereum price is now trading above $2,500 and the 100-hourly Simple Moving Average. It is also above the 76.4% Fib retracement level of the downward move from the $2,583 swing high to the $2,357 low.

On the upside, the price seems to be facing hurdles near the $2,580 level. The first major resistance is near the $2,620 level. The main resistance is now forming near $2,650. A clear move above the $2,650 resistance might send the price toward the $2,720 resistance.

An upside break above the $2,720 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,750 resistance zone.

Another Drop In ETH?

If Ethereum fails to clear the $2,620 resistance, it could start another decline. Initial support on the downside is near the $2,520 level. The first major support sits near the $2,500 zone.

A clear move below the $2,500 support might push the price toward $2,450. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,350.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $2,450

Major Resistance Level – $2,620

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