Today, which coincides with Christmas Day, the crypto market is on the rise. Following this development, the prices of the top altcoins trending today also increased. This widespread increase can be attributed to the renewed interest and increased liquidity entering the market. Crypto analyst Victor Olanrewaju discusses the much talked about SUN Coin and two altcoins today.
First up is Sun Token (SUN Coin)
SUN Coin is the management token of the SUN platform, a decentralised platform (DeFi) developed on the Tron Blockchain. In the last 24 hours, the price of SUN has increased by 4.40%. The token is currently trading at $0.023. This increase and increased market interest is why it is trending. Previously, the SUN Coin price dropped by about 50%. However, the daily chart shows that the histogram bars on the Awesome Oscillator (AO) are changing from red to green. It also signals that it shows a bearish to bullish transition. If this trend continues, it is possible for the token to rise to $0.034. However, the altcoin faces a potential pullback at $0.026. Failure to breach this resistance would invalidate this thesis. In this scenario, the price is likely to drop as low as $0.019.
Tema (TEMA) comes in second place
TEMA, a Solana meme coin, is also part of the trending altcoins today. Because its price has increased. However, the token’s performance is much better than Sun Token. Because it has seen a 24.40% increase in the last 24 hours. This price increase increased its value to $ 0.04. On the 4-hour chart, TEMA’s price increased this much due to increased buying pressure around the token. The chart shows a good level of volume around the token. If the volume continues to increase, TEMA’s uptrend may strengthen. In this case, the altcoin is likely to rise above $0.050 and towards $0.060. However, a drop in volume would indicate waning interest. This would likely cause the price to drop as low as $0.034.
Last ranked altcoin: ai16z (AI16Z)
AI16Z is an altcoin developed due to the trending narrative around AI Agent’s. Due to this development, the price of the cryptocurrency has continued to reach new highs. Today, it is also part of the trending altcoins. Because its market capitalisation is close to reaching $1 billion. This surge towards this region was driven by a 32% increase in the last 24 hours, which pushed the price to $0.86. From a technical perspective, the Moving Average Convergence Divergence (MACD) is in positive territory. It also points to bullish momentum around the cryptocurrency. If the momentum remains positive, it is possible for AI16Z to rise above $1. On the other hand, if meme coin holders decide to sell in large numbers, the token is likely to fall as low as $0.66.
The opinions and forecasts in the article belong to the analyst and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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