Top Trending Coins for Today, June 11: PEPE, ADA, MATIC, LUNC, and MAGIC

The cryptocurrency sector is feeling the impact of the ongoing legal dispute between the United States Securities and Exchange Commission and some top crypto exchange platforms. The top five cryptos that made the list this weekend were able to achieve a sufficient bullish recovery that earned them a place on the list within the last 24 hours. For most of the week, the predominant market sentiment has been bearishly biased.

Pepe (PEPE)

Major Bias: Indecision

PEPEUSD was still able to maintain its position at the top of the list for this week, even though it is on the edge of losing its first position on the table. The market held its position with just a 1.11% bullish recovery within the last 24 hours, while in the last 7 days, the market has fallen by 25%. One thing that this market has done that has kept it at the top of the table is that it has been able to contain the general bear market by trapping it in a price consolidation trend. PEPEUSD now hovers around the $0.0000009 price level, and from the Moving Average Convergence and Divergence (MACD) indicator, there is a likelihood for the price to rally from its current price level.

Current Price: $0.00000093

Market Capitalization: $359,997,609

Trading Volume: $11,458,993

Cardano (ADA)

Major Bias: Bearish

Cardano is one of the crypto markets that has suffered greatly from the ongoing legal dispute between the U.S. Securities and Exchange Commission. In the past seven days, ADAUSD has seen massive liquidity in its bear market and fallen below the $0.245 price level, which is the year’s all-time low. But what may have put the market in the second position of the trending coin could be the significant recovery from the $0.22 support price level. Despite the ongoing crisis, the market is very likely to have a massive bullish run as investors may take advantage of the dip and invest in the market.

Current Price: $0.271

Market Capitalization: $9,393,989,814

Trading Volume: $545,878,007

Polygon (MATIC)

Major Bias: Bullish

The Polygon market is also affected in the same way as Cardano, and likewise, the strong bullish recovery within the past 24 hours is what put it among the trending coins. This market also fell below its year low, which is $0.75, but was able to gather significant momentum for recovery from the $0.5 support price level. The market has been able to make a 10% bullish price recovery within the past 24 hours. MATICUSD still holds to the likelihood of more bullish actions because, according to the Relative Strength Index (RSI), the market is recovering from below the 30-level demarcation level for the oversold region.

Current Price: $0.66

Market Capitalization: $6,017,110,665

Trading Volume: $577,918,058

Terra Classic (LUNC)

Major Bias: Bullish

The Terra Classic market has secured the $0.000085 price level as a strong support level as it consolidates around this level between the middle of May and June 3. This was after the strong LUNC bull market on June 4 took the market to a high of $0.0001155. The Luna Classic bear market became just as aggressive as the bull market. This was because the buying pressure may have propelled the market into the oversold region. However, bears were able to test below the key support level before bulls brought the market to $0.000089.

Current Price: $0.000089

Market Capitalization: $524,363,143

Trading Volume: $42,897,550

MAGIC (MAGIC)

Major Bias: Bullish

MAGIC took the fifth position because it was able to make just about a 0.61% price recovery within the past 24 hours. But in the past 7 days, it has seen a 31.48% loss. Initially, the market held to the $0.85 support price level as it contained the selling pressure. But on June 10, the market lost grip on $0.85 and fell to the $0.6 price level. It was from there that it made its recovery to the current price level.

Current Price: $0.695

Market Capitalization: $149,437,627

Trading Volume: $34,779,780

Buy your cryptocurrencies on eToro