This past weekend, several “old” cryptocurrencies made a surprising comeback while some memecoins struggled, with few exceptions. As a result, one of the long-standing cryptos has resurfaced among today’s trending altcoins.
This shift has also sparked renewed interest in the market, especially in tokens that have underperformed in recent months. According to CoinGecko, the top three trending altcoins today are Gigachad (GIGA), Luckycoin (LKY), and MAD (MAD).
Gigachad (GIGA)
As mentioned earlier, most memecoins struggled over the weekend, and GIGA is trending not because of a price surge. In fact, its value has dropped by 20% in the past seven days.
However, it is among today’s trending altcoins because popular memecoin analyst Murad continues to highlight it as one of the best tokens to hold. Furthermore, the recent dip has sparked discussions in the market, with many considering GIGA to be in a strong accumulation spot.
From a technical perspective, the 4-hour chart shows that the Solana memecoin continues to trade inside a descending triangle. Although this is a bearish pattern, the token is close to support at $0.36.
Gigachad 4-hour analysis. Source: TradingView
If the price drops to this support, there is a chance that the bulls might defend this region. If so, then the price could jump to $0.055. However, if it drops below the support line, GIGA could drop to $0.031.
Luckycoin (LKY)
A surprise entry into today's altcoin trends is Luckycoin (LKY), a project launched in 2013 and recognized as the world's first memecoin, from which Dogecoin (DOGE) was derived.
LKY is trending today thanks to some impressive price action. Trading at $13.90, its price has surged 65% in the past 24 hours and 420% in the past seven days. This rapid rise is likely driven by buying pressure, especially considering that the altcoin has a limited total supply of just 12.07 million coins.
With such low supply, even modest buying pressure could trigger significant price movements. However, according to the 1-hour chart, the price of LKY could see a pullback. This is largely due to the drop in the Relative Strength Index (RSI) reading.
Luckycoin 1-hour analysis. Source: TradingView
As seen above, the RSI, which measures momentum, has fallen below the neutral line of 50.00. If the rating continues to fall, then LKY could decline below $10. On the other hand, if buying pressure increases again, then the altcoin could move towards $20.
FOOD (FOOD)
Last on the list is MAD, which also appeared in last week’s trending altcoin analysis. The altcoin makes today’s list because its price has increased by 73% in the last 24 hours and by 332% in the last seven days.
This price increase, along with an increase in volume, indicates that the market appears to have great interest in MAD. At the time of writing, the MAD price is $0.000045. Meanwhile, daily charts show that bulls have been defending the price from falling below $0.000036.
Daily MAD Analysis. Source: TradingView
With increasing volume and accumulation, the altcoin will likely rise higher. If so, then MAD could rise to $0.000080. However, a drop below support could invalidate the prediction, and the token could fall to $0.000032.
The article Why Are These Altcoins Trending Today, November 25? appeared first on BeInCrypto Brazil.
