Like the last few days, the trending altcoins today, December 6, have registered notable price surges. This increase in value could be linked to a surprise exchange listing that has sent the trading volume to unexpected levels.
However, out of the three top trending altcoins, according to CoinGecko, one saw its price fall by double-digits in the last 24 hours. The top three include Across Protocol (ACX), Bertram The Pomeranian (BERT) and Orca (ORCA).
Across Protocol (ACX)
Across Protocol is a cross-chain project that facilitates interaction among several blockchain networks. ACX, the protocol’s native token, is one of the trending altcoins today because Binance has listed it.
Earlier today, Binance disclosed that it has decided to list ACX on the spot market, with trading scheduled to begin by 13:00 UTC. Following the announcement, ACX price rallied from $0.61 to $1.45 before retracing to $1.21 as of this writing.
On the 4-hour chart, the development triggered a rise in the Moving Average Convergence Divergence (MACD). The MACD is a technical indicator that measures momentum. When it is positive, momentum is bullish.
However, it is bearish when the reading is negative. Since it is the former, ACX’s price could continue to rise and could approach $2 in the short term. On the flip side, if the altcoin gets overbought, this could change, and some of the gains could be erased.
Bertram The Pomeranian (BERT)
For some days, BERT, the meme coin built on the Solana blockchain, has been appearing on the trending altcoins list. While it is there today, it is not trending because the price has increased.
In fact, the altcoin’s value has decreased by 16% in the last 24 hours. Still, interest in the token remains at a high level—hence, its trending. A look at the 4-hour chart shows that the Bull Bear Power (BBP) has dropped to the negative region, indicating that sellers are in control.
If this continues, BERT’s price might drop to $0.080. If selling pressure intensifies, the token might decline to $0.068. On the other hand, if bulls take bears out of the way, this trend might change, and BERT could rally toward $0.12.
Orca (ORCA)
Like ACX, ORCA is part of the trending altcoins today because Binance also announced listing it on the spot market. For those unfamiliar, ORCA is the native token of Orca, a decentralized exchange built on Solana.
Following Binance’s announcement, ORCA’s price jumped by 90% and is currently trading at $7.16. This is because Binance’s spot listing often creates significant price volatility for tokens, as increased exposure drives higher trading activity.
On the daily chart, the Money Flow Index (MFI) reading has increased. The MFI shows if a cryptocurrency is experiencing more buying or selling pressure. When the metric increases, there is more buying pressure. But if it decreases, selling pressure is intense.
A sustained MFI reading alongside strong trading volumes could push ORCA past $8.50. However, if sellers gain control, the token might retrace, testing lower support levels below $7.
Disclaimer
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