The leading trending cryptocurrencies today are not the same as those highlighted in recent days. Among the three, two altcoins have been featured previously, while one is a newcomer linked to the Telegram messaging platform.
It’s important to note that the trending status of these altcoins does not imply a guaranteed price rise, as their popularity might stem from various factors. As of October 25, the three leading trending altcoins on CoinGecko are Goatseus Maximus (GOAT), Notcoin (NOT), and Scroll (SCR).
Goatseus Maximus (GOAT)
GOAT remains in the spotlight primarily due to the AI+ meme coin narrative, which appears to be gaining traction. However, there’s another reason for its current trending status.
Specifically, Binance announced the listing of GOAT on its futures market on October 24, propelling the altcoin’s price to a new all-time high. Nevertheless, GOAT’s price has since declined by 24% over the past 24 hours, indicating that meme coin holders are starting to take profits.
Following the Binance announcement, the cryptocurrency surged to $0.88, but it has now decreased to $0.65. The 4-hour chart shows that the Moving Average Convergence Divergence (MACD) has slipped into the negative territory.
The MACD serves as a technical oscillator to identify trends. A positive reading suggests bullish momentum, while a negative reading points to bearish movement.
Read more: What Are Altcoins? A Comprehensive Guide to Alternative Cryptocurrencies
If the MACD stays in the negative area, GOAT’s price could fall to $0.58. However, if investors choose to buy the dip in substantial amounts, GOAT’s price might rise to $0.90.
Notcoin (NOT)
Notcoin, which is native to Telegram, is the fresh addition to today’s leading trending cryptocurrencies. Much like Toncoin’s recent feature, NOT is capturing attention due to its affiliation with Telegram, especially as users anticipate further airdrop announcements.
Nonetheless, Notcoin’s price has plummeted 74% from its peak, highlighting a drop in buying interest. Daily analysis shows that Notcoin has created a head and shoulders pattern and has fallen below its neckline.
This formation suggests that the downtrend may continue. In this context, NOT’s price might reduce to $0.0071. Conversely, if bullish momentum pushes the altcoin past the neckline at $0.0077, a rebound could occur, potentially elevating Notcoin to $0.010 or even $0.012.
Scroll (SCR)
This marks the second appearance of Scroll among the trending altcoins since its launch earlier this week. Based on BeInCrypto’s observations, the project’s controversial launch is still why it is trending.
SCR debuted at $1.45, but as of this update, it has fallen to $0.85, reflecting a nearly 40% decrease since its launch. An assessment of the 1-hour chart indicates that the Awesome Oscillator (AO) has dipped into the negative range.
Read more: Top 9 Safest Crypto Exchanges in 2024
This indicates that sentiment surrounding SCR remains bearish, suggesting its price may dip below $0.85 in the near term. Conversely, Scroll’s price could reverse this trend if market conditions improve or if an altseason occurs.
Disclaimer
In accordance with the Trust Project guidelines, this price analysis article is solely for informational purposes and should not be viewed as financial or investment advice. BeInCrypto is dedicated to delivering accurate, impartial reporting, but conditions in the market can change without warning. Always perform your own research and seek guidance from a professional prior to making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have all been updated.
Dutch
English
French
German
Greek
Italian
Portuguese
Russian
Spanish