Bitcoin finally broke the $45,000 resistance level to trade at $46,400 , up 5.4% in 24 hours. Bitcoin's recovery in particular has been reflected in the total value of the cryptocurrency market, which has now risen to $1.8 trillion.
One factor contributing to these gains is the approval of the rumored Bitcoin Spot ETF. Derivatives traders invest heavily in Bitcoin futures, which have risen from $9.5 to $14.5 billion to $17 billion in 2023 .
While investors await the SEC's approval decision, altcoins have become an alternative source for investors . Therefore, today's top cryptocurrency winners are benefiting from positive investor sentiment and interesting developments in their communities. More fascinating details are discussed below.
BONK: a memecoin inspired by Solana
BONK rose 26.9% in the last 24 hours to settle at $0.000013. The asset has been extremely volatile , losing more than 10% of its gains last week. However, today's gains suggest that buyers are returning.
The Bonk ecosystem continues to see more positives in 2024, and an outlook for activity for 2023 confirmed its growth.
During 2023, Bonk interacted with more than 10 blockchain networks, registered more than 600,000 token holders, and was listed on 42 exchanges. Additionally, the cryptocurrency community celebrated BONKmas during the holiday season . Games like Silicon Valley BONK (SVB) were introduced to entertain users.
Furthermore, BONKbot saw a massive 342% increase in users within 12 days of the BONKmas event. On the daily chart, BONK is making profits but facing resistance.
BONK is testing the resistance level of $0.000017 – will it surpass this level?
BONK is trending up on the intraday chart, establishing a second green candle following recovery attempts by buyers yesterday. After falling from January 5 to 7, BONK is now in the green zone as buyers begin to gather.
The $0.0000103 support level was the key to BONK's rally as it approaches the $0.0000145 resistance level.
BONK is trading in the lower zone of the Donchian Channel (DC), but the intermediate flag is rising, indicating the recovery phase of the asset.
Furthermore, the Relative Strength Index (RSI) is rising from the selling area below 30 with a value of 37.02 and approaching the neutral zone above 50.
If the RSI exceeds 50, the uptrend will continue. BONK is likely to continue its rise in the coming days and surpass the $0.0000145 resistance level.
Internet Computing (ICP): Blockchain to run cloud computing
The ICP is trading at $13.03, up 5.5% in the last 24 hours. However, price fluctuations have been observed in the past week. The multi-chain UCO summary captures key developments in the ecosystem relevant to the ICP community. These developments can represent the expectations of the asset.
A major development was the introduction of ckETH , which can be found in the ledgers created by ICP smart contracts . These codes can be transferred for free in a second. Notably, ICP developers will introduce protocol-level integration with Bitcoin in 2023.
This eliminates the need for cross-chain bridges. But on today's chart, ICP is under pressure from sellers as it approaches the nearest support level.
ICP Resists Selling Pressure: Will Support at $12.90 Hold?
The ICP is under pressure from sellers, which can be seen in the downtrend from January 4 to 7. However, buyers recovered on January 8 to test the resistance level of $13.97. The rejection at $13.97 on January 8 led ICP to hold at the $12.90 support level.
If we look at the chart, the relative strength index falls from the 61 buy zone to the neutral zone. This confirms that sellers have controlled the ICP price. Furthermore, the moving average convergence/divergence indicator (MACD) has fallen below its signal line, showing a sell signal.
This signal is confirmed by the red bars on the chart. Therefore, ICP will fall further if the support at $12.90 does not hold. Traders should monitor the day's candle close to confirm this.
Celestia (TIA): standardized blockchain network for developers
Today, TIA is up 19.7% and is trading at $16.18. Last week it rose 16.6% , confirming Jupiter's superiority. Celestia continued to see positive developments in the ecosystem, with over 1 GB of data published online.
More than 632,000 accounts on the network confirm the growing interest of investors in the tokens. These developments are likely to have contributed to the rise in TIA prices over the past 24 hours on the daily chart.
As buyers return, TIA creates an interesting pattern of what?
TIA has shown a significant recovery in the last 24 hours after the price drop between January 5 and 8. A large green candle has formed on the daily chart as buyers return to force an uptrend.
Furthermore, TIA found support at $14.24 and rose to resistance at $16.07. If buyers hold their positions, a breakout above this level is likely.
Meanwhile, the TIA is trading above the Parabolic SAR, which is a bullish signal indicating further upside. Furthermore , the RSI is at 64.25 and is rising towards the overbought zone above 70.
Therefore, TIA will surpass the resistance level of $16.07 in the coming days if buyers continue in the accumulation phase.
Meme Kombat (MK) - Share your project, play and win
>>> Visit the Meme Kombat preview
The more than $6.4 million increase in pre-Meme Kombat ($MK) sales isn't just due to another booming meme coin on the market. There is a convergence of strategic factors that determine its success. The appeal of $MK goes beyond linking currencies.
GambleFi combines APY betting with an innovative AI-powered battlefield. The key to our unprecedented pre-sale success lies in our attractive 156% APR .
This feature, combined with 77% of the tokens purchased, reduces the risk of pump and drain, which is a common situation with meme coins.
Whales and retail investors alike are flocking to Meme Kombat, as evidenced by large purchases and growing interest in a market flooded with large-cap assets like BTC, ETH, and SOL.
Potential big name in cryptocurrency meme: What makes $MK different?
>>> Visit the Meme Kombat preview
Today, this top-earning cryptocurrency stands out for its low initial market capitalization, which allows it to grow, unlike established giants like Shiba Inu, Dogecoin and others .
Furthermore, Meme Kombat is not based solely on the attractiveness of market value; Gain a strategic advantage by combining GameFi, GambleFi and AI utilities.
The AI-powered battlefield engages the meme community and increases competition to increase demand for tokens. The innovative staking system increases demand for organic tokens by ensuring long-term price stability.
What is striking is the transparency of the collection, unlike most meme coins.
The Meme Kombat team, led by Matt Whitman, has been vetted, adding credibility to a volatile space. The release of the first season, featuring popular memes, indicates a continued upward trend after pre-sales, leading to continued price increases.
However, the opportunity to invest early and earn higher returns is rapidly closing due to the increase in pre-sale traffic. Investing early through pre-sales provides a profitable entry point. The pre-sale craze for Kombat Meme signals an imminent sell-off, prompting investors to act quickly.
Sponge (SPONGE) V2 - an active meme with constant updates and increasing value
>>> Visit Sponge V2 Preview
SPONGE has seen significant growth recently , with a 24-hour price increase of 84% to $0.00114. This update was motivated by the excitement of moving from the original version, V1, to the updated version of Sponge V2. The success story of Sponge V2 lies in its strategic development.
The transfer involves the exchange of native V1 tokens , of which over 4,503,802.76 tokens worth $4,503,802.76 have already been shared.
Once shared, these tokens are automatically migrated to the second version, although the exact transition date has not yet been announced. This process encourages token holders to stay connected to the project's social media for further updates.
The buzz around Sponge V2 has generated a lot of interest, especially for its attractive betting bonuses, which currently offer a profitable return of 387%. This reward system attracted new investors, attracted by the promise of excellent facility features.
Sponge gained traction on platforms such as Dextools , with trading volume reaching $2.4 million in 24 hours.
Sponge V2's upcoming listings on major exchanges (OKX, Kucoin, and possibly Binance) could significantly increase its exposure and trading activity. These factors position Sponge V2 for high growth , attracting investor interest, and improving its position in the cryptocurrency market.
SPONGES Upper Bollinger Band Decline: Where Are the Bulls?
Sponge's technical analysis points to a complex situation. Today, a red candlestick pattern appears on the chart below the two upper boundaries of the Bollinger bands, while the Bollinger bands themselves are expanding in opposite directions.
Furthermore, the MACD indicator is placed above the signal line, accompanied by a blurred histogram bar. Again, the RSI is at 68.44, indicating a horizontal trend.
This combined analysis may indicate that Sponge may have a period of consolidation or a minor correction in the near future.
However, a red candle near the upper band of the Bollinger Band indicates a possible pullback from recent highs. A spread above the Bollinger Band indicates greater volatility or uncertainty in price direction.
A MACD above the signal line, even if the histogram bar disappears, indicates weak upward momentum.
Meanwhile, the RSI at 68.44 shows that SPONGE is moderately overbought, but not in the extreme zone. If these indicators are combined , the sponge price may undergo a short-term correction or a sideways movement in the coming days.
Traders and investors may experience a pause or slight drop in the value of Sponge before the uptrend resumes. However, this analysis does not provide final predictions, but rather is an indication of potential market trends based on technical indicators.
Closing
The cryptocurrency market is gaining momentum ahead of two major events: spot ETF adoption and the Bitcoin halving. If the required price levels are reached, a rally will occur in 2024.
However, cryptocurrencies remain volatile and there is no guarantee that prices will not fall due to external factors. Therefore, proper research and risk management are essential to limit traders' unnecessary exposure to losses.