Why These Altcoins Are Trending Today — April 4

12h ago•

bullish:

bearish:

The cryptocurrency market has seen a modest rebound today, with the overall market capitalization rising by 1%.

As the market attempts recovery, traders are shifting focus toward certain altcoins. Among the trending altcoins today are Fartcoin (FARTCOIN), Grass (GRASS), and Ondo (ONDO), all of which have been drawing attention.

Fartcoin (FARTCOIN)

Solana-based meme coin FARTCOIN is one of today’s trending altcoins. At press time, the altcoin trades at $0.46, climbing 22% over the past day.

Readings from its Relative Strength Index (RSI) reflect the gradual uptick in market demand for the altcoin. At press time, this lies above the neutral line at 53.26 and is in an uptrend.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

At 53.26 and climbing, FARTCOIN’s RSI signals strengthening bullish momentum, suggesting increasing buying pressure in the market. If this persists, the meme coin’s value could climb to $0.54.

FARTCOIN Price Analysis. Source: TradingView

On the other hand, a reversal in the current trend could cause a price decline to $0.34.

Grass (GRASS)

GRASS is up 25% over the past day and trades at a 26-day high of $1.92 at press time. On the daily chart, its Chaikin Money Flow (CMF) rests above zero at 0.10, confirming the buying pressure among market participants.

The CMF indicator measures an asset’s accumulation and distribution by analyzing price and volume to assess buying and selling pressure. When it is above zero, it indicates that buying pressure is dominant, suggesting that the asset is experiencing strong accumulation and potential bullish momentum.

If GRASS accumulation continues, its price could extend its gains toward $2.25.

GRASS Price Analysis. Source: TradingView

However, if the bears regain market dominance, they could drive GRASS’ value below the support at $1.89 and toward $1.58.

Ondo (ONDO)

RWA token ONDO is another altcoin that has caught traders’ attention. As of this writing, it is trading at $0.81, having gained 2% in price over the past day.

However, the 34% drop in its daily trading volume during that period signals that ONDO’s price rally is not backed by demand for the altcoin but rather driven by speculative trades. This suggests that the rally may not last.

A reversal in ONDO’s current uptrend could cause its price to drop to $0.70.