The crypto market continues its downward trend today, with bearish pressure overpowering bullish efforts.
Amid this decline, some altcoins have emerged as the most searched assets, continuing to attract investors’ attention. They include Vana (VANA), Sonic (S), and Official Trump (TRUMP).
Vana (VANA)
VANA has bucked the broader market downtrend, noting a 46% uptick over the past 24 hours. This double-digit rally comes as YZi Labs (formerly Binance Labs) announced an undisclosed investment in Vana, a crypto-AI startup focused on data ownership.
The firm confirmed that Binance co-founder Changpeng “CZ” Zhao—who recently took on an active role at YZi Labs following its rebrand—has joined Vana as an advisor as part of the deal.
At press time, VANA trades at $8.78. Over the past 24 hours, its trading volume has totaled $639 million, surging by over 2,800% during that period. This significant hike in VANA’s trading volume indicates that its current rally is driven by demand for the altcoin.
If the rally continues, VANA’s price could reach $10.77.
On the other hand, a rise in profit-taking activity could result in a decline to $7.77.
Sonic (prev. FTM) (S)
Sonic’s S is another altcoin trending today. Its price is down 17%, mirroring the general market decline of the past 24 hours.
S’ plummeting buying pressure also contributes to this price fall. Its declining on-balance volume (OBV) confirms this. This indicator measures an asset’s cumulative trading volume to gauge its buying and selling pressure.
When it falls, it suggests that selling pressure outweighs buying pressure, potentially signaling further price weakness or a bearish trend. If selloffs continue to strengthen, S’ price could fall to $0.59.
However, a bullish shift in market trend would invalidate this bearish projection. If S demand soars, it could push its price to $0.76. A successful breach of this resistance could create a path for the altcoin to trade above the $0.90 price level.
Official Trump (TRUMP)
Solana-based meme coin TRUMP is one of the most searched altcoins today. It exchanges hands at $12.78, plunging 14% in the past 24 hours. Having lost 55% of its value over the past month, readings from TRUMP’s Relative Strength Index (RSI) suggest that it might be poised for a rebound.
At press time, this momentum indicator, which measures an asset’s oversold and overbought market conditions, is at 27.72.
When an asset’s RSI falls to this low, it indicates that it is in oversold territory. If buyers step in, this could mean a potential price rebound, but it may also signal continued weakness if bearish momentum persists.
If buyers flock in to buy TRUMP, they could trigger a rebound and push its price up toward $18.07.
On the other hand, if the decline persists, the meme coin’s price could fall below $12.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
