The crypto market has seen significant fluctuations recently, driven partly by NVIDIA’s impressive quarterly revenue of $68.1 billion, marking a 73% increase year-over-year. This surge has swayed Bitcoin’s position, causing it to retract from the critical $61,000 mark, barely managing to climb back to $70,000. The aftermath revealed a notable uptick in AI coins and altcoins, particularly after President Trump’s State of the Union address.
In the wake of these developments, let’s explore the top trending cryptocurrencies that have showcased strong technical movements.
Bitcoin Remains Bullish in the Short Term
Bitcoin shows resilience, maintaining a bullish outlook for the immediate future. The anticipated price movements align with a pattern of steady demand, reinforcing bullish sentiment among investors.
Kaspa (KAS) Struggles Against Sellers
After breaking its one-month bearish trend with a 12% surge in the past day, Kaspa faces competition from sellers. This momentum has been buoyed by the announcement that the network has successfully crossed 600 million transactions. However, following the loss of the critical support level at $0.33, KAS/USDT currently sits at $0.3065, positioned within a short-term demand zone. Despite this, the derivatives market shows a slight inclination towards selling, with roughly 51% on the short side.
With the presence of green candles forming in the demand zone and the RSI indicating an oversold condition, the price of Kaspa may rekindle momentum, potentially gravitating towards the 7-day EMA price target of $0.33.
Pudgy Penguins ($PENGU)
Pudgy Penguins, or Pengu Coin, has exhibited remarkable activity, featuring both rapid surges and declines within the last 48 hours. The momentum around this memecoin continues to flourish, driven by a vibrant community keen on expanding its reach, highlighted by ongoing partnerships with giants like Visa, Walmart, and Amazon.
Currently trading at $0.006919 (PENGU/USDT), the coin is approaching a demand zone at $0.006597. The RSI is establishing itself in the oversold range, between 52 and 40, suggesting strong potential for a reversal.
The Keltner Channels indicate dynamic support aligning with the demand zone, creating double confirmation for the upward momentum. Collectively, these indicators suggest a bullish trend for the future market activities of these cryptocurrencies.
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