Despite the cryptocurrency market facing a downturn, with the total market capitalization dipping by 2.56% to $2.52T, some tokens have seen significant activity with notable gains. According to CoinMarketCap date, the top five gainers were Ondo (ONDO), Lido DAO (LDO), Chainlink (LINK), Monero (XMR), and Ethereum Classic (ETC).
ONDO has demonstrated a significant bullish trend over the last 24 hours, rising from approximately $0.9665 to a peak of $1.15 before settling at $1.07. This represents a notable 10.30% increase in price, accompanied by a 145.88% surge in trading volume. The trend began with a steady climb, showing strong bullish momentum, peaking at around $1.15, which now serves as a temporary resistance level.
The price consolidation around $1.07 suggests this may be developing into a new support level. Factors such as Coinbase’s rollout of ONDO-PERP have likely fueled this surge, enhancing investor confidence and market activity.
Lido DAO (LDO)
Lido DAO’s price movement has also been predominantly bullish. It opened at $2.1096 and reached highs of approximately $2.35, ultimately closing near $2.26. This upward movement is marked by consistently higher lows, indicating strong buyer sentiment. The trading day experienced a substantial 151.79% increase in volume, emphasizing robust market participation.
Support levels have been forming progressively higher, particularly around $2.15 and $2.20, while $2.35 has established itself as a key resistance level. The volume/market cap ratio standing at 23.38% further highlights the active trading environment.
Chainlink (LINK)
Chainlink’s trading session was characterized by volatility. The price initially dipped to a low around $16.50, which later served as a strong support level, before climbing to a high near $17.50. The day ended with the price around $16.80, marking a 1.38% overall increase.
The rebound from the support level indicates a robust buying interest that shifted the momentum from bearish to bullish. The trading volume surged by 82.01%, suggesting that the price movement was backed by significant trading activity. The resistance at $17.50 is crucial; surpassing this could signify a potential for further gains.
Monero (XMR)
Monero has shown an ascending trend over the last 24 hours, with its price moving from a low of $138.50 to break past $141, facing resistance at $141.50. The increase in price is supported by a 24.31% rise in trading volume, indicating strong buyer engagement.
Key resistance is observed at $141.50, with the potential to target $143.00 if this level is breached. The overall bullish momentum is backed by a rising RSI and upward-trending moving averages, suggesting buyers are in control.
Ethereum Classic (ETC)
Ethereum Classic (ETC), lastly, displayed bullish momentum with notable volatility. After starting at a low of $31.27, ETC reached highs around $34.00. The substantial 234.81% surge in trading volume underscores the heightened activity and interest.
Resistance was noted at $34.00, with potential pullback supports at $31.50 and $31.27. The bullish trend suggests a possible continuation if it successfully breaches the $34.00 level, aiming for higher resistance.