The broader crypto market continues to show signs of caution, with total market capitalization dipping by a modest 0.34% over the past 24 hours.
While major assets remain relatively flat, a handful of altcoins have attracted traders’ attention. Some of them include NOT, AURA, and SUI.
Notcoin (NOT)
NOT is up 0.22% over the past day, and currently trades at $0.0019. Readings from the token’s daily chart show that it has trended within a descending parallel channel since May 14, its price plummeting by 41%.
A descending parallel channel is formed when an asset’s price moves between two downward-sloping, parallel trend lines, connecting lower highs and lower lows over time. It signals an extended bearish trend as buy-side pressure declines.
If selloffs continue among NOT holders, its price could attempt to break below the descending parallel channel to trade at $0.0015.
On the other hand, if demand climbs, the token’s price could rally toward $0.0023.
aura (AURA)
AURA, a culture token built on the Solana blockchain, is another altcoin trending today. At press time, the token trades at $0.17. It is up over 20%, defying the broader market’s lackluster performance over the past 24 hours.
During that period, the token’s trading volume has climbed by 11% to reach $21 million. This means that significant demand backs AURA’s price jump.
If this trend continues, the token’s price could break above the resistance at $0.18. A succesful breach of this level could propel AURA’s price to $0.21.
AURA Price Analysis. Source: TradingView
However, if profit-taking commences, the altcoin’s value could fall to $0.14.
Sui (SUI)
Layer-1 asset SUI is another altcoin that is trending today. It currently trades at $2.81, up by a modest 0.25% over the past day. However, bearish pressures persist.
On the daily chart, the altcoin remains below its 20-day Exponential Moving Average (EMA), indicating a steady surge in the demand for sell orders.
The 20-day EMA measures an asset’s average price over the past 20 trading days, giving weight to recent prices. When price trades below the 20-day EMA, it signals bullish momentum and suggests sellers dominate the market.
If this continues, SUI could extend its price decline to $2.70.
However, if selloffs reduce, the coin could climb toward $2.91.
Disclaimer
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