Today, trading activity in the crypto market is lively, with total market capitalization increasing by over $45 billion in the last 24 hours. This trend signals growing interest from investors in riskier assets. Some of the standout altcoins attracting attention today are Grass (GRASS), Sudeng (HIPPO), and Walrus (WAL).
Grass (GRASS)
GRASS is up 36% today and is currently trading at a two-month high of $2.26. On the daily chart, indicators from Chaikin Money Flow (CMF) show a surge in demand for this altcoin.
The momentum indicator is currently at 0.09 and is in an upward trend, reflecting market buying activity. The CMF indicator measures how money flows in and out of an asset.
A positive CMF indicates strong buying pressure and capital flowing into the asset. This signals bullish sentiment and potential continued price increase for GRASS. If so, the price could rise to $2.35.
GRASS price analysis | Source: TradingView
However, if selling pressure dominates, GRASS will lose its recent gains and drop to $2.19.
Sudeng (HIPPO)
The memecoin HIPPO operating on Sui is one of the trending altcoins right now. The price has risen 26% and is trading at $0.0045 at the time of writing.
In the past day, the trading volume of HIPPO has surged by 50%, totaling $65 million. When the price and trading volume of an asset rise simultaneously, it indicates strong market confidence behind the price move. Therefore, HIPPO's price increase is supported by genuine investor interest and may continue in the same direction.
In this case, the price could reach $0.0067.
HIPPO price analysis | Source: TradingView
On the other hand, if the sell-off continues, the price of HIPPO could drop to $0.0039.
Walrus (WAL)
Walrus (WAL) is trading at $0.71, up 10% today. This is also one of the trending altcoins right now. The Relative Strength Index (RSI) increase confirms demand from market participants. At the time of writing, RSI is at 65.51.
The RSI indicator measures an asset's market overbought and oversold conditions. It fluctuates between 0 and 100. Values above 70 indicate that the asset is overbought and likely to decrease in price, while values below 30 indicate that the asset is oversold and may recover.
At 65.51, WAL has more room to extend its price increase before becoming overbought. In this case, it could rise to $0.77.
WAL price analysis | Source: TradingView
Conversely, reduced buying activity could cause WAL to drop to $0.69.
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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.
