The cryptocurrency market is witnessing continued downward pressure today, with overwhelming selling overshadowing buying efforts. Amidst this decline, several altcoins have emerged as sought-after assets, drawing investor interest. Notable among these are Vana (VANA), Sonic (S), and Official Trump (TRUMP).
Vana (VANA)
VANA has defied the overarching market dip, recording a remarkable 46% increase over the past 24 hours. This leap came on the heels of YZi Labs (formerly Binance Labs) announcing an undisclosed investment in Vana, a crypto-AI startup focused on data ownership. Notably, Binance co-founder Changpeng “CZ” Zhao has taken on an active advisory role at Vana following this collaboration. At the time of writing, VANA trades at $8.78, with its trading volume soaring to $639 million—a staggering increase of over 2,800%. This surge indicates strong demand, and if this upward trend persists, analysts project VANA's price could reach $10.77.
On the flip side, should profit-taking escalate, VANA’s price may drop to $7.77.
Sonic (formerly FTM) (S)
Another altcoin making headlines today is Sonic, which saw its price decrease by 17%, mirroring the general market downturn over the last 24 hours. This decline is partially due to diminished buying pressure on Sonic, corroborated by its declining On-Balance Volume (OBV)—a metric assessing cumulative trading volume to gauge buy and sell pressure. When this volume drops, it can signal sustained price weakness or downward trends. If selling accelerates, Sonic's price could fall to $0.59.
Conversely, if market conditions shift favorably, increased demand could boost the price of Sonic up to $0.76. A successful breach of resistance could allow trading above $0.90.
Official Trump (TRUMP)
The meme coin TRUMP, built on the Solana blockchain, ranks as one of today's most sought-after altcoins. It currently trades at $12.78, reflecting a 14% decrease within the past 24 hours. Following a significant 55% decline over the past month, the Relative Strength Index (RSI) for TRUMP indicates it may be primed for recovery. Currently, the momentum indicator, which gauges overbought and oversold conditions, stands at 27.72—a sign of oversold conditions. A surge of buyers could catalyze recovery, potentially driving prices up to $18.07.
Nevertheless, should the downward slide continue, TRUMP’s price could fall below $12.
All information above is published with goodwill and intended for general informational purposes only. Any action taken by readers based on the information found on our website should be carefully assessed, and readers should fully bear the risks of their decisions.
