Top Trending Coins for Today, December 3: LUNC, BEAM, BTC, TIA, and SOL
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In this week’s leading market trends, Terra Classic has unexpectedly risen to claim the top position, while Bitcoin and Solana maintain strong positions among the top five trending coins. Additionally, the Celestia market has consistently secured a position in the top five trending markets for the past couple of weeks. Now, let us conduct a thorough analysis of the top five trending markets for the week.
Terra Classic (LUNC)
Major Bias: Bullish
The Terra Classic market has been experiencing a buildup of momentum in the bullish market since late October. This is evident in the volume of trade indicator, with histograms consistently gaining height. Initially, despite the increasing volume of trade, the actual candlesticks between late October and early November remained flat and exhibited sideways ranging. However, by November 10, the bull market began to break out of the ranging market, and by the later part of November, the market started making significant movements in an upward direction, surpassing several resistance levels and pushing the market above the $0.00014 price level.
According to the Bollinger Bands indicator, the bull market is causing a divergence of the bands, indicating an increase in volatility. However, there is no cause for significant concern among bullish traders, as bullish momentum appears to be prevalent in the market for this week, and the market has the potential to continue the bullish trend.
Current Price: $0.00014726
Market Capitalization: $869,920,252
Trading Volume: $294,403,446
Beam (BEAM)
Major Bias: Bullish
The Beam market has exhibited signs of an imminent price breakout between November 19 and November 20. The volume of trade indicators depicted tall histograms on these days, suggesting increased market activity. However, the market itself did not experience significant upward movement during this period, leading to prevalent indecision sentiment. Stepping into the new month, the bull market became more aggressive, propelling the price closer to the $0.200 level. In the last 24 hours, the market has recorded a remarkable 219% gain. It’s crucial to note that such hyperbullish markets often carry the risk of a strong bearish market move. If bulls do not intervene at a favorable price level, the bullish momentum gained may be eroded by the bear market.
After peaking at the $0.24 price level, we have observed a substantial bearish market, as indicated by the long upper shadow. Bullish traders should strategically enter the market at a suitable price level to preserve the bullish momentum gained by establishing a support level that can redirect the market towards a bullish course.
Current Price: $0.17
Market Capitalization: $25, 249,168
Trading Volume: $5,732,869
Bitcoin (BTC)
Major Bias: Bullish
In the third position is the Bitcoin market, which has successfully surpassed the $36,000 price level in the early part of November. By the second half of November, the market had steadily progressed towards the $40,000 mark. However, during Bitcoin’s course to $40,000, it encountered clusters of sell orders around the $38,000 price level. The prevailing bullish sentiment faced resistance at the $38,000 level, resulting in a significant flattening of the market around this point. Entering December, the bull market broke out of this indecision and surged towards the $40,000 price level.
It’s important to note that a robust bear market could potentially be triggered at the critical $40,000 price level.
Current Price: $39,661
Market Capitalization: $770,572,939,318
Trading Volume: $14,347,174,820
Celestia (TIA)
Major Bias:Bullish
December appears promising for the Celestia market, having recorded an impressive 25% gain in the past 24 hours, securing its position as the 4th-ranked market in the top 5 for the week. On Monday, November 27, the market established a crucial support level around the $5.413 mark, serving as the foundation throughout the concluded week. During this period, it achieved a notable 53.13% gain over the past 7 days.
The Bollinger Bands indicate that due to the robust bull market this week, volatility levels have heightened. This heightened volatility has the potential to make bears formidable around major resistance levels. Presently, a substantial bear market has not been identified; however, the Relative Strength Index signals a strong overbought market. Consequently, there is a possibility of a strong bear market emerging.
Current Price: $8.894
Market Capitalization: $1,313,527,947
Trading Volume: $432,930,148
Solana (SOL)
Major Bias: Indecision
The Solana market has successfully secured a position among the top 5 markets for the week, maintaining its fifth position on the list. While facing challenges around the $60 price threshold initially, the market persevered and established a higher support level over the course of the week. This elevated support provided the bull market with the advantage to break through the $60 resistance price level. As of now, the market stands at the $62.91 price level.
In response to this market development, the upper standard deviation is exhibiting an upward divergence. Solana is now closely approaching mid-November’s $65 price level. The price may continue its upward trajectory until it reaches the $65 price level.
Current Price: $62.80
Market Capitalization: $26,695,346,142
Trading Volume: $1,322,199,007
