Top Trending Coins for Today, February 25: COTI, GORILLA, JASMY, ALICE, and UNI
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The change in the top 5 popular coins shows that things are shaking up in the crypto world. It suggests that more people are getting involved in trading as we get closer to Bitcoin Halving Day. The anticipation of Bitcoin Halving Day may likely play a significant role in this increased activity. Bitcoin halving refers to the event where the reward for mining new Bitcoin blocks is halved, reducing the rate at which new Bitcoins are created. With that said, let’s promptly review each of these tokens sequentially.
Coti (COTI)
Major Bias: Bullish
The month of February has witnessed notable bullish activity, as prices surged beyond the deadlock point of $0.062, where bulls and bears previously contested. However, despite the upward shift towards the $0.102 mark, bearish pressure led to price consolidation at that level. As the month draws to a close, there has been a notable surge in the Coti bull market. The bulls successfully breached the resistance at $0.102, propelling prices to a remarkable high of $0.25 before initiating a corrective phase.
The bullish momentum observed has significantly increased market volatility, evident in the pronounced divergence of the Bollinger Bands indicator. This heightened volatility may empower bearish traders to exploit price fluctuations, potentially leading to substantial retracements. Consequently, traders should anticipate notable price corrections in the upcoming days.
Current Price: $0.200
Market Capitalization: $322 million
Trading Volume: $449 million
Gorrila (GORRILA)
Major Bias: Indecision
The Gorilla market currently holds the second position. This market displayed resilience by rallying from the $0.0020 support level in late January and sustaining upward momentum throughout February, albeit encountering formidable resistance at the $0.008 price level. Despite this challenge, bullish sentiment persisted, establishing a higher support level at $0.006 with the intention of surpassing the $0.008 resistance. Unfortunately, the market experienced a breakdown once again.
However, bulls regrouped at $0.004, and as of today’s trading session, the market has garnered sufficient momentum to secure the second position on the list. Should this new support level effectively hold against the $0.008 resistance, the market could enter a ranging phase characterized by indecision.
The current market dynamics suggest a potential consolidation trend, as evidenced by the relatively small trade volume despite significant candlestick movements. Therefore, it’s probable that the market will undergo a period of consolidation in the forthcoming days.
Current Price: $0.005
Market Capitalization: $4.1 million
Trading Volume: $5.4 million
JasmyCoin (JASMY)
Major Bias: Bullish
Significant improvement emerged, favoring bullish sentiment in the latter half of February. Prior to this period, the market had been in a prolonged sideways trend around the $0.0050 price level, accompanied by notably low trading volumes. While many markets experienced bullish activity in January, this particular market remained stagnant throughout January and the first half of February.
The surge in interest only commenced in the latter half of February, resulting in increased volatility levels as depicted by the diverging Bollinger Bands. Presently, indicators suggest that the market is in overbought territory, signaling an impending correction. Additionally, the appearance of an inverted hammer candlestick hints at a potential market reversal, with the support level at $0.0128 possibly coming into play.
However, a break below this support level could lead to further market decline. Therefore, traders should anticipate a correction in the near term and monitor the $0.0128 support level closely for potential price action.
Current Price: $0.015
Market Capitalization: $786 million
Trading Volume: $877 million
MyNeighbourAlice (ALICE)
Major Bias: Bullish
Since early February, this market has been on an upward trajectory. During the past week, there were notable bullish activities, further enhancing the increasing volatility. There’s a likelihood that this trend may soon reverse, primarily due to the approaching critical psychological level of $1.50. This level marks the year’s high, and the emergence of a small spinning top candlestick indicates a balancing of forces, potentially leading to market equilibrium. Consequently, there’s a possibility of a downward movement in the market from this point onward.
Current Price: $1.475
Market Capitalization: $100 million
Trading Volume: $9.4 million
Uniswap (UNI)
Major Bias: Bullish
This week proved to be significant for the Uniswap market, with Friday standing out in particular. The bullish trend experienced a remarkable surge in price, propelling the market from $7.428 to above the $12.00 level on Friday. Despite attempts by bulls to sustain upward momentum on Saturday, heightened market volatility allowed bears to push back, resulting in a price rejection.
However, it’s worth noting that bullish sentiment remains robust, with bulls establishing support at $11.23. Nevertheless, as of today, the market has experienced a further decline to $10.561. There’s optimism for a potential resumption of the upward trajectory in the coming days, given the prevailing bullish sentiment.
Analysis of the Relative Strength Index indicates that the market is currently in overbought territory. Although crypto signal, corrections are expected to play out due to increased volatility, the market is highly likely to continue its upward momentum.
Current Price: $10.6
Market Capitalization: $6.3 billion
Trading Volume: $932 million
