Top Trending Coins for Today, May 26: ENA, GSTOP, PEPE, RETIK, and NOT
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The crypto leaderboard experienced a significant shakeup this week, with new entrants like Notcoin and Retik Finance emerging among the top hot markets. The substantial market reshuffling has intensified competition among the top five trending markets. Some of these new entrants have leveraged their fresh status to secure a position on this week’s roster. Let’s delve into the analysis for each of these markets.
Ethena (ENA)
Major Bias: Indecision
The top position today is held by the Ethena market, which is also a relatively new entrant. The first data representation appeared in early April. After the initial bull market peaked above $1.40, a bearish trend emerged, but bulls quickly salvaged their position at $0.80. The market started at approximately $0.292. After a period of contention for market dominance around the $0.80 price level, the market ranged along this level for a while. However, after securing support at $0.66, below the $0.80 level, the market surged again, gaining up to 24% in the last seven days. In the past 24 hours, a minor loss of 1% has been observed. Currently, today’s trading session is represented by a gravestone doji. This doji indicates that the market may be preparing for a downturn, signifying a strong bearish presence.
Current Price: $0.9148
Market Capitalization: $1.4 billion
Trading Volume: $276 million
GameStop (GSTOP)
Major Bias: Indecision
In the second position is a new entrant, the GameStop market (GSTOP). According to the chart, the first price action was recorded on May 22, likely starting around the $0.003 price level. The market experienced significant price swings but eventually settled below the initial price level. The bulls found support at $0.0025, while the bears dominated the $0.003 level. These developments caused the market to range sideways within this price channel. The increased volatility starting on May 25 and continuing to the present likely contributed to GSTOP’s second position among trending markets. Despite the volatility, demand continues to match supply.
Current Price: $0.003127
Market Capitalization: $3 million
Trading Volume: $6 million
Pepe (PEPE)
Major Bias: Bullish
The Pepe market, which ranked second on the trending list for the week of May 19, has dropped to third position this week. Despite this decline, the market’s performance this week suggests it could have taken the top position due to its upward trend and substantial momentum gains. However, as the weekend approached, the momentum began to decline, particularly after surpassing the $0.000015 resistance level. With the momentum waning and the Bollinger Bands diverging, traders should be alert for a potential price correction. If the bulls maintain their strength, they could use the $0.000015 level as a higher support level.
Current Price: $0.00001611
Market Capitalization: $6.4 billion
Trading Volume: $6.1 million
Retik Finance (RETIK)
Major Bias: Bullish
The Retik Finance (RETIK) market has been in an uptrend for several sessions. In the past 24 hours, it has gained an impressive 11.6%. As a new entrant, the first market data for RETIK was recorded on May 21. During its initial session, the market surged from $0.14 to peak at $2.50. This was followed by a substantial bearish trend, but on May 24, bulls intervened at $1.04, reversing the trend back upward. However, at the $1.78 level, bears reentered, and each subsequent peak has been lower than the previous one. This pattern suggests a potential reversal.
Current Price: $1.53
Market Capitalization: $762 million
Trading Volume: $5.8 million
Notcoin (NOT)
Major Bias: Indecision
In the fifth position is Notcoin, which has been making waves in the crypto market since mid-May. The Bollinger Bands indicator reflects the strong market swings. Initially, the market maintained a wide bandwidth, ranging from $0.002 to $0.01655, highlighting the strong entrance of this market. However, the subsequent crypto signal suggests that after this initial volatility, the market began to settle around the $0.0048 level, with the Bollinger Bands converging, indicating a significant decline in market volatility. This decline is expected to precede a clear directional price movement. The market is unlikely to dip below this level, as it is near the market’s starting point. Given the initial hype, a price rally may be imminent.
Current Price: $0.005174
Market Capitalization: $531 million
Trading Volume: $152 million
