Top Trending Coins for Today, March: LUNC, BTC, GMT, SHIB, and OP
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
The general market outlook for the coins that made the trending list this week portrays them as experiencing a failed attempt to break away from the deadlock situation in the market. The bearish move that followed forced some of this market below its previous support level. But now the general bull market is bouncing back.
Terra Classic (LUNC)
The market had maintained its strong support level at $0.00016 for quite some time, but as February ends, the bulls made an impressive effort to break away from the deadlock price situation around $0.00016. The bull market tested $0.00018, but with this, they triggered the bear market. The selling pressure that followed is forcing the price of LUNCUSD to settle at the $0.00015 support price level. The buyers are coming back into the bull market as the candlestick representation for today’s market points to an imminent trend reversal.
Current Price: $0.00015
Market Capitalization: $868,713,285
Trading Volume: $62,041,445
Bitcoin (BTC)
Bitcoin made some significant advancements in the last month. Bullish activities pushed the market to around the $25,000 mark, but it was from here that traders began to take their profits. The bear market forced the price below the $24,000 price level. Bulls took a new price base at $23,149 to regain a grip on the market and return it to the $24,000 and $25,000 price zones. However, the bull market faces strong rejection at $23,679, this resistance level is near the $23,149 support level. The demand line eventually succumbed to this pressure and they shifted the support level to $22,334. In the Relative Strength Index (RSI), the RSI line, for today, continues to measure momentum at 42. The measurement is in the sell zone but the ranging line might be a sign of trend reversal and this time, the new target may be the $30,000 price level.
Current Price: $22,342
Market Capitalization: $432,905,848,073
Trading Volume: $13,263,416,185
STEPN (GMT)
The bull market was turned back to $0.6145 by a strong bearish move that triggered a downtrend. In order to salvage this market and conserve the bullish price, bulls gathered around the $0.4000 price level; they formed a strong support level at this point. However, as the selling pressure continues to grow, the support level had to shift to $0.3636. Bulls are gaining momentum; they have a hold on the $0.4000 price level, but they need to wear out the bearish pressure first.
Current Price: $0.374
Market Capitalization: $221,319,601
Trading Volume: $74,575,229
Shiba Inu (SHIB)
The SHIB market began to face a decline in early February when the bull market tested the high price level of $0.000016. This hyper-bullish move resulted in exhaustion on the part of the bulls. Also, the bears took an advantage of this and gather around the $0.00001475 price level to start the bearish trend. At the $0.000012 support price level, buyers tried to conserve the bullish price. The bear market faced a bit of a hindrance at this level, but since the demand line is weak, the support price could not hold ground against bearish pressure. Now, buyers are trying to secure a new support level at $0.000011. Looking at the market from the Bollinger Bands indicator perspective, there is a divergence of the bands. This points to the formidability of the two market forces at this time. The bulls are catching up and there is a possibility for a soon trend reversal.
Current Price: $0.0000112
Market Capitalization: $9,984,815,615
Trading Volume: $382,086,930
Optimism (OP)
On February 24, the Optimism market made an attempt to recapture the $3.108 price level after being rejected there in early February. However, the market got rejected at this level again. The declining market is now making an attempt to bounce back as bulls gather around the key support level of $2.196. But this time around the bull market is bouncing back at a support level that is slightly higher than the key support level. In the market, from the perspective of the Relative Strength Index, the price is ranging at level 45, which is the sell zone of the indicator. But since the price ranges at 45, it may be preparing for trend reversal
Current Price: 2.42
Market Capitalization: 763,403,277
Trading Volume: 230,238,604
Would you like to advance your trading to a new level? Participate in Dash 2 Trade. Buy Dash 2 Trade (D2TUSD) now.
