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Immutable (IMX), Render (RNDR), and Frax Share (FXS) are 3 altcoins that all saw their prices rise along with the total cryptocurrency valuation during the past 24 hours. The market tracking website CoinMarketCap indicated that the total cryptocurrency market cap stood at $1.07 trillion at press time after it increased by 1.51% over the past day of trading.
Despite the uptick in the cryptocurrency market’s valuation, a significant medium-term technical flag was triggered over the past 48 hours. During this period, the 50-day EMA line crossed bearishly below the 100-day EMA line. If this technical flag is validated, TOTAL could fall to the next key support level at $1.022 trillion.
Continued sell pressure may also drag the market total capitalization down to $992.439 billion. However, a daily candle close above $1.065 trillion will invalidate this bearish thesis. In this scenario, TOTAL could continue to climb to $1.111 trillion in the following week.
Following the recent market crash, IMX has displayed positive signs of recovery. In the last 24 hours, the price of this altcoin surged by over 7%, reaching a trading value of $0.6071. Despite this improvement, IMX’s performance throughout the week still experienced a decline of 4.93%.
Like IMX, RNDR also experienced a comparable situation, observing a price increase of over 7% in the past day. This surge propelled RNDR’s value to around $1.51, marking a fresh 24-hour peak for the cryptocurrency. Moreover, RNDR’s trading volume within this same 24-hour period saw growth of more than 72%, reaching a total of $37,008,147.
Lastly, the past day has been a successful one for FXS as well after its price was able to rise by 4.95%, which left it trading at $6.10. Nonetheless, FXS’s price experienced a more than 6% fall over the past week, which meant that the cryptocurrency still had some work to do to fully recover from the latest market turmoil.
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