These are the most popular cryptocurrencies today.
Bitcoin (BTC) attempted to revisit its highs yesterday, with several altcoins joining the race to add to their gains. However, according to data from CoinGecko, not all of the hottest trending cryptocurrencies have followed suit.
According to data from the price tracking platform, trending altcoins today include RabBitcoin (RBTC), Grass (GRASS), and Sui (SUI). This analysis looks at the reasons why these are some of the most sought-after properties in the market today and what's next for their value.
RabBitcoin (RBTC)
RabBitcoin is a blockchain based gaming platform and the Telegram mini app is built on the TON blockchain. The project is the hottest part of cryptocurrencies today due to the announcement that some RBTC holders, which were previously locked, can now access the assets.
Following the announcement, the price of RBTC increased by 32% in the last 24 hours, while volume increased, indicating growing demand for the altcoin.
On the 4-hour chart, after the RabBitcoin announcement, the price of the altcoin rose from $0.0000038 to $0.0000057 within a few hours. However, it didn't take long for the token's price to rebound as it currently hovers around $0.00000049.
A look at the Relative Strength Index (RSI) shows that when the reading was above 70.00, the rally made RBTC overbought. As of this writing, the reading has fallen, indicating that earlier bullish momentum has now reached an even higher level.
As a result of this position, the price of RBTC may decrease to $0.0000041. If it's too strong, the altcoin could drop to $0.0000037. However, if buying pressure increases, the token's price may rise to its previous peak.
GRASS
Grass is another trending altcoin today, making the list for the second time in a row. According to BeInCrypto findings, the altcoin is part of the group due to its recent launch and price performance.
Unlike most projects that release tokens to their early adopters, the price of GRASS did not experience a double-digit drop just days after launch. Although the price of the altcoin hit $1 yesterday, it has dropped another 5% in the last 24 hours and is currently trading at $0.83.
In the future, the price of GRASS may offset some of these losses, especially if demand for the altcoin starts to increase. If that's the case, the token's price could rise above $1 again.
SUI
Just like yesterday, SUI is one of the most popular cryptocurrencies today due to its price increase. It is part of a trending altcoin that has generated more volume than other Tier-1 projects, including Aptos (APT) and Toncoin (TON).
In the last 24 hours, the price of SUI has increased by 7.40%, and as a result, the price of the altcoin has once again risen above $2.
This uptick means that Sui has reached an all-time high of 13% from retry. But can it? According to the daily chart, SUI faces resistance at $2.12, but support at $1.75 could prevent a noticeable correction.
If that's the case, the SUI price could rise to $2.37. On the other hand, a drop below $1.96 could invalidate this forecast, and the value could drop to $1.64.
Disclaimer
In accordance with Trust Project guidelines, this price analysis article is for informational purposes only and should not be construed as financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always do your own research and consult with a professional before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
