The cryptocurrency market has been relatively stable at $1.13 trillion in the last 24 hours. Notably, despite the stock market sell-off , Bitcoin is trading slightly above the $27,500 price level .
In a relatively stable cryptocurrency market , several altcoins have made significant gains over the past 24 hours . Top gainers currently include TWT, XRP and AVAX.
These coins are benefiting from growing investor interest in their ecosystem. Here are some interesting updates about their ecosystem. We also analyzed possible price forecasts based on price indicators for the next few days.
Trust Wallet Token (TWT) is a reliable crypto wallet service provider
Trust Wallet Token (TWT) was trading higher at $0.82 today at 07:08 EST on October 4th. According to Koingeco , this price has increased by 2.9% in the last 24 hours . At the same time, the price increase over the past seven days was 7.4%, which indicates an increase in consumer interest.
One of the drivers of today's progress is the recent release of the Taste Wallet Extension for Google Chrome.
In a statement, Trust Wallet described the newly released wallet extension as a powerful update with impressive features. The latest browser extension now supports EVM sharing, allowing users to share data within the app.
This new update introduces exciting features such as a new update to the automatic token balance indicator feature that allows users to easily track their investments .
The Trust Wallet browser extension is a secure and reliable multi-chain crypto wallet that connects users to thousands of applications. Additionally , the extension supports over 9 million tokens, including Ethereum, Solana and other EVM-compatible chains .
Users can store and receive cryptocurrency from multiple addresses or exchange accounts. Additionally, it allows users to access Web3 by connecting private keys to Ledger hardware wallets in offline mode.
Meanwhile, support for Ledger Live and NFT hardware wallets is part of the expansion plan. Following this correction, TWT established a large green candle on the daily chart, confirming increased buying pressure.
TWT creates a high false picture when customers return.
TWT recovered from yesterday's selling pressure and formed a bullish pattern on the daily chart after finding critical support at $0.79. At the moment, the top of the candle has broken through the resistance level of $0.82.
And if the candle closes above this level, TWT will likely rise into the overbought range . In addition, TWT is located near the upper Dutch Strait (DC), which provides increased buying pressure.
The relative strength index (RSI) at 56.5 confirmed increasing buying pressure, approaching overbought territory. This setup represents an entry point for further buying trades that will likely allow TWT to break through the $0.82 resistance level in the coming days.
Ripple (XRP) - digital payment network with modern solutions
_ _ _ rose 6.6% on the seven-day chart, confirming that buyers are still active in the market.
One of the factors driving XRP's growth is Ripple Labs' new license to provide digital payment services in Singapore .
On October 3, Ripple's Singapore subsidiary, Ripple Markets APAC Pte . LLC is licensed by the Major Payment Institution (MPI) to offer digital token payments in Singapore .
The license will position XRP as a trusted payment solution for businesses and individuals in Singapore, driving mass adoption. And this may be a factor determining the current value of the token.
Subsequently, on October 3, the court strengthened the original decision in the Ripple/SEC case and rejected the SEC's interlocutory appeal. This has further strengthened investor sentiment, which is reflected in the current price of XRP.
XRP faces resistance at $0.54. Will the bears win?
However, since the last update, the rise has stalled after encountering bearish resistance at $0.54.
The decline in the price of XRP yesterday indicates that buyers began to take profits today, which led to a significant drop in the asset. Additionally, the XRP candle had a long lower wick today as sellers tried to push it down to $0.51.
Moreover, the RSI reflected this decline by falling below the buy zone at 58.4 . If the RSI is below 50, the downtrend may continue in the coming days. Although the moving average convergent divergence (MACD) is showing a buy signal, it can still be corrected.
However, the green line of the histogram shows that buyers are still trading in the short term. XRP price action presents traders with a potentially volatile market environment. Therefore, if the rally fails to clear the $0.54 resistance level, expect a more pronounced fall in the XRP price.
Avalanche (AVAX) is a hub for cryptographic smart contracts for dApps.
AvaX was one of the best-performing coins of the day on October 4, trading at $9.7 at 7:13 a.m. EST , representing a 24-hour gain of 3.6% . Its gain over the past 24 hours represents a gain of 7.0% over the past seven days.
The reason for this increase is the announcement of an update to the AVALANCHE subnet , which will benefit analysts of the AVAX ecosystem.
As AVAX developers, analysts can easily access subnet data using LiveQuery and set up analysis tools/tools in any subnet browser . Additionally, LiveQuery allows these analysts to integrate online and offline databases, allowing them to compare data side-by-side with any integrated database or API.
With this update, users can now create analytics for their favorite Avalanche projects. Additionally, the developers have hinted at new tools and dashboards that are in development and will be released soon. This increase will create a large green candle on the daily chart and push the AVAX price higher.
AVAX is testing the resistance level of $9.73, entering the overbought zone.
AVAX formed a second consecutive green candle on the daily chart after breaking through support at $9.24. The upper body broke above the $9.73 resistance level as buyers increased pressure.
The MACD confirmed buyers' control when it moved above its signal line, indicating a buy signal, indicating that buyers are still active. In addition, the stochastic oscillator is in a buy position above 80.
In particular, the RSI quickly showed a reading of 90.7, confirming the continued bullish sentiment towards the stock. Although AVAX is already in overbought territory, it could continue to rise if it breaks through the $9.73 resistance.
Meme Kombat (MK) - Creative gaming ecosystem Web3
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While these altcoins are full of exciting developments in the ecosystem, Meme Kombat , a gaming and income-generating cryptocurrency, has become a sensation among gaming and meme coin lovers . Meme Kombat rewards users for participating in fun meme battles.
Users can place bets and bet on game outcomes to earn passive income within the ecosystem. $MK is the platform's utility token. In particular, MK owners can participate in auto battles and various game modes to receive rewards.
MK is available in pre-sale and retail for $1.67 . Pre-sales have raised more than $270,000, just inches away from the project's $1 million goal. Users can choose ETH or USDT to purchase MK tokens and link their crypto wallet to complete the process .
Betting on more prizes increases the long-term value of MK
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MK is an Ethereum-based cryptocurrency that owns Ethereum's proof-of-stake (PoS) mechanism . It offers users an attractive annual return percentage for investing their MK tokens.
Meme Kombat will automatically deposit tokens earned during the presale to offer additional rewards to buyers. Specifically, after the pre-sale, each wallet must resell its tokens to be eligible to claim rewards.
In addition, Meme Kombat offers users a great opportunity to bet on battles and receive additional rewards. There are several betting modes such as player vs player bets and player vs play bets . Live betting and side events are also available.
In player versus player mode , users can compete against each other in live tournaments . Meanwhile, the player is against. The game pays attention to in-game events.
Additionally, Live betting varies depending on the match or fight. Given its unique and fun features , Meme Kombat could be a huge success given the growing importance of the crypto gambling industry.
Summary
Today's top gainers are hoping to build on last week's gains and take advantage of buying pressure. In addition, ecosystem development continues to be the focus of many projects aimed at attracting more investors. However, investing in cryptocurrency still involves significant risks that investors must carefully understand and manage.
Alternatively, pre-sale investors are another way to get involved in a project after launch before prices increase. According to statistics, cryptocurrencies are becoming the most popular and valuable in the world and may show growth in the coming months.