beincrypto.com
Several altcoins are trending today for various reasons. CoinGecko data shows that all these cryptocurrencies share one thing in common: their prices have risen in the last 24 hours.
This notable hike could be linked to broader market recovery. That said, the top three altcoins trending today are Mythos (MYTH), MAD (MAD), and Mode (MODE).
Mythos (MYTH)
Mythos tops the list of trending altcoins today, specifically due to its 45% price increase in the last seven days. As a project built on the Ethereum blockchain, MYTH’s price also increased due to the rise in ETH’s value.
As of this writing, MYTH’s price is $0.27 but has encountered resistance around the same area. However, the Awesome Oscillator (AO), which measures momentum, shows that the sentiment around the altcoin remains bullish.
In this scenario, MYTH’s price is likely to bounce toward $0.32. However, if momentum turns bearish and the AO reading drops to the negative area, this might not happen. Should that be the case, the altcoin’s value might decline to $0.21.
MAD (MAD)
Another crypto among the altcoins trending today is MAD, a meme coin built on the Solana blockchain. MAD is trending because its value has spiked by 85% in the last 24 hours and over 600% within the last seven days.
This rise in price could be linked to a surge in buying pressure. From a technical point of view, despite the hike, the Bull Bear Power (BBP), which measures the strength of buyers compared to sellers, reveals that bulls are still in control.
If this continues, MAD’s price could rise to $0.00010. However, if cryptocurrency holders decide to sell in large volumes, this might not happen. Instead, the altcoin’s value could sink to $0.000045.
Mode (MODE)
Like yesterday, Mode is also one of the trending altcoins today. Unlike its price action on November 21, MODE’s price has increased 26.50% in the last 24 hours.
Between August and the first few days of this month, MODE’s price traded within a descending triangle. This bearish pattern ensures that the altcoin value failed to notch a significant hike.
However, at press time, it broke out, as BeInCrypto had predicted earlier. With the current price movement, MODE is likely to raise $0.022 in the short term. But in a scenario where selling pressure rises, that might not happen. Instead, it might drop to $0.012.