In the past 24 hours, the market has faced the benefits launched by the executive decree of President Donald Trump establishing a Bitcoin strategic reserve.
In the middle of this, some altcoins draw the attention of investors. Redstone (RED), Jupiter (JUP) and Sonic (s) have become some of the most discussed assets today.
Redstone (red)
The new newly launched red oracle token is one of today’s trendy altcoins. However, its price performance has been affected by the decline which tormented the general market in the last 24 hours. It is currently negotiated at $ 0.64, noting a decrease of 33%.
In the midst of this reduction in two -digit prices, RED’s negotiation volume exceeded $ 195 million, soaring 1069% in the last 24 hours. This reflects high sales among market players.
When the price of an asset decreases while the volume exchange of points, it signals increased sales pressure as more investors unload their assets. If this continues, Red’s price could drop to $ 0.57
However, a high volume during a drop in prices can also indicate a potential accumulation of buyers who seek to enter lower prices, which can cause a rebound. In this scenario, the Red Prize could bounce back to $ 0.67.
Jupiter (JUP)
JUP, the token which feeds the decentralization of Jupiter, based in Solana, is one of the most sought after today. JUP’s price is down 5% in the last day, which reflects the market crisis.
In fact, during the first Asian session on Friday, the token plunged to a minimum of $ 0.56. Although he has since recovered and negotiated at $ 0.60 at the time of the press, sales remain important among JUP holders. The negative readings of its index of the elder rays confirm this. Currently, reading is -0,20.
The elder ray indicator measures the pressure of purchase and sale of an asset by analyzing the strength of its bulls (Bull Power) and bears (bear power) compared to its exponential mobile average (EMA).
When the index is negative, this indicates that the sellers control, the prices negotiating below the EMA. This suggests a downward momentum on the JUP market and alludes to the potential more downwards.
If the decline persists, JUP could review its one -year hollow of $ 0.56 and continue its downward trend. In this scenario, he could fall to his hollow of $ 0.43.
On the other hand, if a new request enters the market, this can push the price of JUP to $ 0.75
Sonic (previous FTM) (s)
Sonic’s S is another Altcoin who is fashionable today. It is negotiated at $ 0.53, testifying to a price drop of 11% in the last day.
At the time of the press, its relative resistance index (RSI) was 41.70, below the 50 neutral line, highlighting the high sales pressure in its cash markets.
A RSI reading below 50 indicates a weakening of the bullish momentum and suggests that sellers have more control over the market. This indicates a downward trend on the S market and refers to a prolonged decline.
In this case, the price of S could drop to $ 0.47, a bullish change in the market trend could send it to $ 0.62.
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