Top Trending Coins for Today, April 15: ARB, BTC, SHIB, ID, and LUNC
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
This week across the trending coin market, we notice that most traders are taking profits after the market has hit a comfortable target. The bear market for this week is characterized by strong moves as most traders take up the bearish position. However, as the week comes to an end today, most of the markets are changing direction to the upside as bulls find suitable demand levels. Therefore, the coming week could be bullish.
Arbitrum (ARB)
Major Bias: Indecision
In previous weeks, Arbitrum bull market conquered a number of price hurdles or major psychological price levels. The bear market was triggered at $1.794. Unfortunately for the bulls, they could not keep the key support level at 1.604 due to massive selling pressure. The bear market forced the support level to shift to $1.55, but they were also not able to keep this new demand level until the sellers drove the price to $1.42 on Thursday. Now at this price level, the bearish pressure is becoming evenly matched with the bullish pressure, and as a result of this, the market enters a price consolidation trend. The Relative Strength Index also confirms this observation, portraying the market as ranging below the 50 midpoint level, precisely at level 41
Current Price: $1.44
Market Capitalization: $1,864,253,835
Trading Volume: $1,012,318,743
Bitcoin (BTC)
Major Bias: Bearish
The $30,000 price level is considered a major take-profit level for most long-term and short-term investors. However, a slight recovery in the value of the US dollar in the concluding week also contributed to the bearish momentum. The trending Bitcoin bull market had successfully claimed the $27,000 price level after a long while of tug-of-war around the price level. Then the bullish price breakout launched the price towards the $30,000 price level to capture it. The bulls, however, failed in this attempt after a brief indecision at the level. The bear market finally broke out on Wednesday, and after lasting for just three days, the bulls found a comfortable price level to regain the market. The support level has been the main support level since March 18, when bulls pushed the market into the $27,000 price zone. According to the Bollinger Bands, the volatility is high, while the volume of trade seems to be one-sided as the bear market saw massive activity. This could mean that the majority of the traders are unanimously taking the same trading position.
Current Price: $27,571
Market Capitalization: $ 534,522,482,092
Trading Volume: $16,152,072,390
Shiba Inu (SHIB)
Major Bias: Bearish
In early April, the SHIB market hit a major resistance price level at $0.00001132, and the market turned south after a brief struggle between demand and supply at around the key resistance price level. The bull market was able to find a nearby price level where the traders were willing to buy, a strong support level that formed the basis for the bullish action that broke the $0.00001132 resistance price level, shifting the supply line to around $0.00001174. However, at this point, the bullish price was rejected. This also triggered a strong bearish move, and the bulls lost grip on the support price level. But in today’s market, the Shiba Inu buyers have found a price level to enter the market. A new support level is forming at $0.00001022. This market action, according to the Bollinger Bands indicator, has spiked market volatility.
Current Price: $0.00001043
Market Capitalization: $6,142,448,653
Trading Volume: $126,201,425
Space ID (ID)
Major Bias: Bearish
The Space ID market, being a newcomer in the crypto market, did not have much historical data for analysis on the daily chart. Therefore, we are making use of the 4-hour chart for the analysis. Like every other market, the Space ID market took on a bearish trend after the market hit the target of $1.00. The bear market caused the market to settle at the $0.722 price level. Around this new support level, the demand-supply struggle grew stronger, resulting in indecision. According to the Relative Strength Index, the market ranges around level 39. At the moment, the indecision in the market may be due to the low volume of trade, which is limiting the liquidity in the market. However, the appearance of plus sign Dojis may be indicating that the bulls are about to take the market again.
Current Price: $0.7306
Market Capitalization: $222,455,232
Trading Volume: $232,526,705
Terra Luna Classic (LUNC)
Major Bias: Bearish
After a long time of indecision, the market finally broke out to the downside. Terra Classic has maintained the $0.00011945 support price level since March 10, when the bearish price was rejected at the level. But unfortunately for the bulls, strong resistance was formed at $0.00013461. With the slightly higher lows that formed later in April, the bulls attempted to put pressure on the supply level. This attempt failed to materialize because the bears also shifted the resistance. This was well illustrated by the convergence of the Bollinger Bands to portray a narrowing price channel. In such cases as this, it is difficult to predict the next direction the market will take, as it could go in either direction. Finally, in today’s market, the bulls are rejecting the bearish price, and the market is turning to the north again.
Current Price: $0.00013422
Market Capitalization: $654,386,380
Trading Volume: $38,411,951
Would you like to advance your trading to a new level? Participate in Dash 2 Trade. Buy Dash 2 Trade (D2TUSD) now!
