TOP 3 altcoins with prominent trends today

The cryptocurrency market has continued its upward trend, with a total market capitalization increasing by 50 billion USD in just the past 24 hours. As bullish momentum grows stronger, many altcoins are becoming the focus of investors.

Three prominent altcoins with a strong upward trend today are Plume (PLUME), Keeta (KTA), and Mubarak (MUBARAK).

Plume (PLUME)

PLUME, a coin in the RWA sector, is among the altcoins with the strongest upward trend today. Currently, PLUME is trading around $0.19, up 12% in the last 24 hours.

Daily PLUME/USDT Chart | Source: TradingViewHowever, the decrease in trading volume suggests that this upward trend mainly reflects the overall market trend, rather than stemming from actual demand for PLUME. At the time of writing, the trading volume of PLUME reached 75 million USD, down 11% from the previous day.

When the price increases but the trading volume decreases, this often signals that market momentum is weakening and buyer participation is declining. This makes the upward trend of PLUME less sustainable, increasing the risk of a correction.

If selling pressure increases, PLUME may return to the level of $0.17. Conversely, if new demand recovers, this coin could test the all-time high of $0.21.

Keeta (KTA)

KTA, a Layer-1 coin, is also the center of attention. Amid the general upward trend of the market, the price of KTA has surged by 57% in the past 24 hours due to increased buying pressure.

KTA/USDT 4-hour chart | Source: TradingViewDuring early trading in the Asian market on Wednesday, KTA reached an all-time high of $0.18. However, this altcoin experienced a 10% correction afterwards and is currently trading at $0.16 at the time of writing. Nevertheless, traders continue to accumulate KTA.

However, the relative strength index (RSI) suggests that KTA may be overbought and due for a correction. This momentum indicator tracks the overbought or oversold conditions of an asset in the market, and currently, the RSI of KTA is at 81.18, confirming that the spot market for this altcoin is in a state of overheating.

The RSI indicator oscillates between 0 and 100, with a value above 70 indicating that the asset is overbought and may decrease in price, while a value below 30 indicates that the asset is oversold and has the potential to recover.

With an RSI level of 81.18, KTA is currently overbought and may soon correct. In this case, this altcoin could drop to $0.15. If this level cannot be held, the downtrend may extend to $0.12.

However, if the upward trend continues, KTA may return to its all-time high and even exceed this level.

Mubarak (MUBARAK)

MUBARAK, a new meme coin launched on the BNB platform, is also one of the altcoins gaining attention today. Currently, this altcoin is trading at $0.12, down 27% in the past 24 hours.

MUBARAK/USDT Hourly Chart | Source: TradingViewOn the hourly chart, the Balance of Power indicator (BoP) is showing a negative trend for MUBARAK. At the time of writing, this indicator is at -0.51.

The BoP indicator measures the strength between buyers and sellers in the market. When the value is negative, it indicates that selling pressure is dominant, signaling a downward trend and the potential for continued weakness.

If this trend continues, MUBARAK may continue to decline, even breaking the support level at $0.11. In a negative scenario, the price of this memecoin could drop to $0.09.

On the contrary, if new capital flows into the market, MUBARAK could recover to $0.13 and higher up to $0.18.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.

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