The cryptocurrency market has skilled a surge at present, with the whole market capitalization (TOTAL) reaching a brand new excessive. Bitcoin (BTC), the main cryptocurrency, additionally climbed to a brand new all-time excessive, additional fueling the market’s bullish momentum.
This surge has propelled a number of altcoins to new heights, with three cryptocurrencies —Moca Coin (MOCA), DeepBook Protocol (DEEP), and Fartcoin (FARTCOIN) — main the cost.
Moca Coin (MOCA)
MOCA, the native token of Animoca Manufacturers’ Mocaverse, hit a brand new all-time excessive of $0.42 at present earlier than experiencing a pullback. Regardless of this, the token maintains a bullish bias.
The Transferring Common Convergence Divergence (MACD) indicator helps this sentiment. At present, MOCA’s MACD line (blue) is above its sign line (orange), signaling bullish momentum.
The MACD measures the connection between two transferring averages of an asset’s worth, utilizing its MACD line, sign line, and a histogram to establish traits and momentum. When the MACD line is above the sign line, it suggests upward momentum, indicating the asset’s worth might proceed to rise.
If this momentum holds, MOCA’s worth may try to interrupt resistance at $0.21 and $0.26. Clearing these ranges would pave the best way for the token to reclaim its all-time excessive. Then again, its worth may dip to $0.17 if profit-taking intensifies.
DeepBook Protocol (DEEP)
DeepBook Protocol is a decentralized buying and selling platform that lets its customers execute trades straight on-chain. Its native token, DEEP, is one other altcoin that climbed to a brand new all-time excessive at present. The token touched $0.11 throughout Monday’s early Asian session earlier than shedding a few of these beneficial properties. As of this writing, the altcoin trades at $0.10 and continues to be up 16% over the previous 24 hours.
DEEP’s Aroon indicator confirms the energy of its present uptrend. At press time, its Aroon Up Line is 100%, whereas its Down Line is 0%.
The Aroon Indicator determines the energy and path of an asset’s worth pattern by measuring the time for the reason that asset’s highest excessive (Aroon Up) and lowest low (Aroon Down) inside a set interval. As with DEEP, When the Aroon Up line is at 100%, a brand new excessive was not too long ago achieved, signaling robust upward momentum and the potential continuation of a bullish pattern.
If the demand for DEEP continues to develop, it’ll revisit its all-time excessive and try a rally past it. Nevertheless, a spike in selloffs will invalidate this bullish projection. A surge in promoting strain may trigger DEEP’s worth to drop to $0.08.
Fartcoin (FARTCOIN)
Meme coin FARTCOIN is one other altcoin that traded at an all-time excessive at present. The token briefly traded palms at a peak worth of $0.89 earlier than witnessing a pullback. It’s now buying and selling at $0.75, reflecting a 16% decline from its peak.
At its present worth, the meme coin sits above help shaped at $0.68. If this help degree holds, it’ll propel FARTCOIN’s worth towards its all-time excessive and probably previous it.
Nevertheless, if the bulls fail to defend this worth degree, the token’s worth might plummet to $0.55.
Disclaimer
In keeping with the Belief Undertaking tips, this worth evaluation article is for informational functions solely and shouldn’t be thought of monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to alter with out discover. All the time conduct your personal analysis and seek the advice of with knowledgeable earlier than making any monetary choices. Please observe that our Phrases and Circumstances, Privateness Coverage, and Disclaimers have been up to date.