Several altcoins are on the rise today for a variety of reasons. Data from CoinGecko shows that all of these cryptocurrencies share one thing in common: their prices have increased over the past 24 hours.
This surge could be linked to the broader market recovery. As such, the top three altcoins trending today are Mythos (MYTH), MAD (MAD), and Mode (MODE).
Mythos (MYTH)
Mythos tops the list of rising altcoins today, specifically due to its 45% price increase over the past seven days. As a project built on Ethereum, MYTH’s price has also surged due to the rise in the value of ETH.
At the time of writing, MYTH is trading at $0.27 but has encountered resistance in the same area. However, the Awesome Oscillator (AO), which measures momentum, shows that sentiment around the altcoin remains bullish.
Mythos Daily Analysis. Source: TradingView
In this scenario, the price of MYTH is likely to rise to $0.32. However, if the momentum turns bearish and the AO reading retraces into the negative region, this may not happen. In this case, the altcoin’s value may drop to $0.21.
FOOD (FOOD)
Another altcoin trending today is MAD, a memecoin built on Solana. It is trending because its value has soared 85% in the last 24 hours and over 600% in the last seven days.
This upward price movement could be linked to an increase in buying pressure. From a technical perspective, despite the increase, Bull Bear Power (BBP), which measures the strength of buyers compared to sellers, reveals that buyers are still in control.
Daily MAD Analysis. Source: TradingView
If this continues, the price of MAD could rise to $0.00010. However, if cryptocurrency holders decide to sell in large volumes, this may not happen. Instead, the altcoin’s value could drop to $0.000045.
Mode (MODE)
Like yesterday (21), Mode is also one of the rising altcoins today. Contrary to its previous price action, MODE is up 26.50% in the last 24 hours.
Between August and the first few days of this month, MODE’s price traded inside a descending triangle. This bearish pattern ensured that the altcoin’s value failed to achieve a significant increase.
Mode Daily Analysis. Source: TradingView
However, at the time of publication, there was a breakout, as BeInCrypto had previously predicted. With the current movement, MODE is likely to rise to $0.022 in the short term. But in a scenario where selling pressure increases, this may not happen. Instead, it may fall to $0.012.
The article 3 rising altcoins to watch today appeared first on BeInCrypto Brazil.
