Top Trending Coins for Today, February 18: BTC, VET, WLD, LPT, and KAS
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It’s thrilling to witness Bitcoin, the King Coin, ascend once again to the top position on this week’s list of the top 5 trending coins. This week’s lineup of trending coins is indeed graced by none other than the king of crypto, reclaiming its throne after a resounding surge, reminiscent of its glory days in years past. But the spotlight isn’t exclusive; alongside this regal resurgence, a constellation of other coins has gleamed brightly, capturing the attention of investors far and wide.
Bitcoin (BTC)
Major Bias: Bullish
Bitcoin has continued to maintain dominance on top of this week‘s trending coin list, despite registering some losses according to available metrics. Presently, the market has undergone a bearish correction of 1.16%. However, its surge of 8.34% over the past 7 days has ensured its position at the pinnacle of this week’s trending market. Its market cap looms large at a staggering $1.102 trillion, accompanied by a trading volume of $22.44 billion. Approximately 22 sessions ago, the market witnessed a rebound off the $40,000 support, propelling the token to higher levels and breaching both the $44,000 and $48,000 marks. However, recent sessions suggest waning momentum, with the market encountering resistance near the $52,000 mark.
From the perspective of the Relative Strength Index (RSI), the price correction may persist as the market appears to be overbought. The RSI line indicates signs of correction. Nevertheless, the current candlestick pattern suggests a prevailing bullish sentiment, resembling that of a hammer.
Current Price: $51,388.63
Market Capitalization: $1 trillion
Trading Volume: $19.7 billion
VeChain (VET)
Major Bias: Bullish
The VeChain market has exhibited significant bullish behavior, particularly evident during Wednesday and Thursday, where it gained notable momentum upwards. Thursday saw the market become particularly hyperbullish, leading to a peak above the $0.050 price level by Friday. However, the bearish momentum triggered at this level encountered substantial bullish pressure, resulting in price stagnation above the $0.045 mark.
Despite this stalemate, the Bollinger Bands indicator indicates high volatility. If this trend persists and the market fails to show a significant incline or decline, prices may consolidate sideways above $0.045. During this phase, volatility may decrease as the market prepares for a decisive price movement.
Current Price: $0.044
Market Capitalization: $3.2 million
Trading Volume: $233 million
Worldcoin (WLD)
Major Bias: Bullish
The same trend as in the VeChain market can be observed on the chart for the Worldcoin market. This week has been remarkably dominated by bulls, causing an astronomical appreciation of the market. This strong, massive buying has also caused an escalation in the volatility level. By the time the market gets to a major bearish resistance level, the bear market might be just as strong as the bull market, and from the looks of the candlesticks having substantial upper shadows, the market may be nearing such a resistance level.
Current Price: $7.25
Market Capitalization: $629 million
Trading Volume: $498 million
Livepeer (LPT)
Major Bias: Bullish
The surge of liquidity in the bull market between Friday and Saturday propelled the Livepeer market to the fourth position on this week’s top trending list. Prior to this surge, the volume of trade indicator had shown minimal activity, with histograms of small height and prices hovering around the $7.50 level. However, with the sudden uptick in the bull market, concerns have emerged regarding the potential strength of the retracement, especially as indicated by the Bollinger Bands, which portray a significant escalation in volatility levels.
Current Price: $17.38
Market Capitalization: $560 million
Trading Volume: $658 million
Kaspa (KAS)
Major Bias: Bullish
Ranked in the fifth position is the Kaspa market, seemingly a newcomer to the scene. Around February 7th, the market initiated an upward surge, but upon reaching the $0.1400 price level, it became stagnant for a period as bulls and bears engaged in a tug-of-war. During yesterday’s market sessions, however, the market broke out and settled above the $0.160 price level. While the Relative Strength Index (RSI) suggests the potential for a continuation of price correction, there’s a likelihood that the price will establish $0.16 as a support level. Securing a strong foothold at this elevated price level will likely steer the market in a bullish direction.
Current Price: $0.163
Market Capitalization: $3.7 billion
Trading Volume: $147 Million
