Crypto market trading activity has once again hit a speed bump, leading to a notable drop of over $50 billion in total market capitalization in the last 24 hours. Despite this setback, select altcoins are grabbing the spotlight with impressive rallies that are catching the eye of traders and investors.
B3 Token Rally (Base)
Among these altcoins, B3 token is stealing the show as it continues its remarkable surge, jumping by an impressive 162% in the past day. Analysis of its Directional Movement Index (DMI) on a four-hour chart indicates a strong buying sentiment among B3 traders, with the positive directional index (+DI) comfortably outweighing the negative directional index (-DI).
If the bullish momentum for B3 persists, there is a potential for its price to conquer the resistance level at $0.016 and aim for its all-time high of $0.019. However, should bearish trends take control, the price may retreat to $0.011.
Solayer's LAYER Resilience
Solayer's LAYER token, integrated within the Solana ecosystem, has been on the rise post its successful genesis airdrop. The project's innovative concept offers immediate token access to initial claimants, with the opportunity for additional token claims over the next six months via "Epochs."
Although some holders are beginning to sell off their tokens, causing a slight 4.21% dip in LAYER's value over the past day to $1.12, there remains prospects for a rebound if selling pressure eases. Conversely, if the selling spree intensifies, LAYER could dip below $1 to $0.92.
Berachain's BERA Challenges
In contrast, Berachain's BERA token has faced an uphill battle since its launch, with its current price at $5.49 marking an 8.4% decline in the last 24 hours. With BERA's Relative Strength Index (RSI) hovering below the neutral line, indicating a neutral to slightly oversold condition, there is uncertainty about its next move. A sustained downtrend could push BERA down to $3.93, but a bullish reversal may see a surge to $8.11.
In a dynamic crypto market where ups and downs are the norm, these altcoins are grabbing headlines with their remarkable price movements. Stay updated on the latest crypto trends to make informed investment decisions.