Top Trending Coins for Today, September 3: CYBER, SAKAI, PEPE, NFAI, and BTC
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Over the past week, the cryptocurrency market has exhibited increased volatility. This volatility has been attributed to various factors, including high market liquidity in the bear market and notable activity in the bull market. A number of cryptocurrencies featured on this week’s top trending coins have secured a position among the top 5 hottest coins by effectively navigating the challenges of a range-bound market during a bearish phase.
CyberConnect (CYBER)
Major Bias: Bearish
Over the past seven days, the CyberConnect market experienced an exhilarating week, with prices surging to a peak of $16.000 on Friday, representing an impressive 85.8% gain throughout the week. However, this ascent led the market into overbought territory, as indicated by the Relative Strength Index (RSI). Given this market condition, a rebound is anticipated.
Towards the week’s end, traders sought to capitalize on the situation, leading to profit-taking and further pushing the market downward. Consequently, the bulls ceded ground. The price decline has caused the RSI to now stand at 42.46. It is possible that selling pressure will persist into the new week, potentially causing the market to relinquish its top position.
Current Price: $6.75
Market Capitalization: $74,523,852
Trading Volume: $1,103,303,982
Sakai Vault (SAKAI)
Major Bias: Bullish
Throughout the week, SAKAI buyers successfully halted the bearish trend, establishing a pivotal point near the $1.148 price level. On the final day of August, specifically August 31st, the market witnessed a substantial bull run, propelling the price comfortably above $1.200 and ultimately closing at $1.253. Over the following day and into September, the bullish momentum sustained, maintaining the price around this level and preventing a sharp correction that often follows such robust bullish surges.
Rather than witnessing a bearish response to this significant upward movement, the market continued to exhibit bullish behavior in September. It appears that the new month holds promise for the Sakai Vault market.
Current Price: $1.34
Market Capitalization: $1,529,392
Trading Volume: $2,586,131
Pepe (PEPE)
Major Bias: Bearish
As August drew to a close, Pepe witnessed a significant increase in liquidity within the bear market, causing it to settle at approximately the $0.00000088 price level. A prolonged struggle between demand and supply ensued at this point. However, with the passage of time, the market began to favor sellers as buyers began to lose their grip. This compelled buyers to regroup around the $0.0000008 price level.
As we transitioned into September, the market fell short of maintaining the $0.0000008 price level. As bears continue to gain ground, the Bollinger Bands indicator now reflects a downward-moving price channel. Nevertheless, Pepe’s bullish supporters are putting up a determined fight, and the market is still trading within the range below the $0.0000008 price threshold. If the 20-day moving average manages to cross this price point, it will confirm a sideways-ranging market, and the Bollinger Bands may converge in this region.
Current Price: $0.000000768
Market Capitalization: $300,003.987
Trading Volume: $54,506,438
Not Financial Advice (NFAI)
Major Bias: Bullish
The Not Finance Advice token has maintained its position among the top five trending coins for the past week. Over the last seven days, NFAI has exhibited a noteworthy uptrend of 33.38%, although today saw a slight retracement of 2.98%. As of today, the token boasts a self-reported market capitalization of $10.22 million and a daily trading volume of $1.33 million.
Analyzing the token’s market chart reveals its recent launch, resulting in limited trading history, necessitating a 30-minute timeframe for observation. The price action on this chart appears to have settled near its initial recorded low. Notably, the price currently rests slightly above the 100 Fibonacci Retracement level, which is notably lower than the 9- and 21-day SMA lines. However, this support level has proven resilient, as there hasn’t been a further decline beyond this point. Consequently, traders might expect a correction toward the $0.0001428 price level.
Current Price: $1.81
Market Capitalization: $225,488,963
Trading Volume: $144,863,557
Bitcoin (BTC)
Major Bias: Indecision
The Bitcoin market experienced high volatility throughout the week, yet it struggled to make significant moves in either direction. A standoff between demand and supply hindered any notable price dynamics.
Nevertheless, there are signs of potential bullish action, as indicated by the Moving Average Convergence and Divergence (MACD) indicator. The MACD line is approaching the signal line, hinting at a potential bullish crossover. Additionally, the diminishing red histograms suggest that the market’s dynamics may be on the brink of change.
Looking ahead to the new week, there is a possibility that BTCUSD’s price could experience an upside breakout.
Current Price: $25,793
Market Capitalization: $502,311,758,798
Trading Volume: $12,625,056,911
