Top 3 Altcoins Surge: BONK, Fantom and Sui Lead the Crypto Rally
thenewscrypto.com 01 October 2024 08:08, UTC - All three coins demonstrate strong bullish momentum amidst market fluctuations.
- Technical indicators suggest potential for further growth in BONK and SUI.
In the past 24 hours, the global crypto market has seen a 0.95% decrease, bringing the total market capitalization to $2.25 trillion. However, the market’s trading volume surged by 31.83%, reaching $81.14 billion. The total volume in DeFi currently stands at $4.6 billion, accounting for 5.67% of the total crypto market’s 24-hour volume.
Meanwhile, stablecoins make up 91.83% of the trading volume, with $74.51 billion in transactions. Bitcoin’s dominance slightly dropped by 0.19% to 55.87%, followed by Ethereum at 14.1%. Despite the overall market correction, some assets, including BONK, Fantom (FTM), and Sui (SUI), showed strong gains.
Bonk (BONK)
BONK is currently trading at $0.00002572, surged by 9.37% in the last day. This rally was fueled by a substantial 67.62% increase in trading volume, pushing it to $489.57 million, with a Market Cap Ratio of 27.15%. The market sentiment remains bullish, with the Relative Strength Index (RSI) hovering at 74.83, indicating overbought conditions.
BONK has consistently stayed above key moving averages, with strong support at $0.00002170 and resistance around $0.00002590. The overall momentum suggests further potential upside, but traders should remain cautious of a possible correction due to the elevated RSI.
Fantom (FTM)
In the past 24 hours, Fantom climbed 9.01% today, reflecting growing investor confidence, especially after an 8.30% rise in its market cap, with a 24-hour volume of $276.68 million. Its Volume/Market Cap Ratio stands at 15.33%. The RSI stands at 68.27, nearing overbought territory, signaling caution for investors as momentum approaches a peak.
FTM’s moving averages show a bullish alignment, with the 9-day moving average ($0.6798) acting as strong support, and resistance at $0.7360. If the upward trend continues, Fantom may see additional gains, but the market could soon face consolidation.
Sui (SUI)
Sui (SUI) also posted notable gains, rising 8.96% to $1.89. Its market cap reached $5.17 billion, with a Market Cap Ratio of 3.40%. The market sentiment remains positive, with the RSI at 60.03, showing a healthy balance between buyers and sellers.
SUI’s price is well-supported by the 21-day moving average ($1.82), with resistance at $1.91. As long as volume sustains, SUI has the potential to breach higher resistance levels, maintaining its upward trajectory.
Disclaimer: The opinions expressed in this article are solely the author’s. It does not represent any investment advice. TheNewsCrypto team encourages all to do their own research before investing.
