Several cryptocurrencies have exhibited notable resilience since the onset of the month. Consequently, the altcoins gaining traction today predominantly feature on the list due to their price appreciation compared to the previous day. In this report, BeInCrypto examines the factors contributing to the trending status of these altcoins and speculates on their potential future price movements. According to data from CoinGecko, the leading contenders include Notcoin (NOT), Ergo (ERGO), and FIRST CONVICTED RACCOON (FRED).
### Notcoin (NOT)
Notcoin, which operates on the TON blockchain, is gaining attention today as its price has seen a significant uptick. Recently, NOT’s price diverged from the overall market trend, with a decrease in value while many other cryptocurrencies enjoyed price increases. However, in the past 24 hours, Notcoin has surged by 15.30%, with its current trading value at $0.0082. This impressive rise is likely tied to the overall market recovery and increased buying activity. An analysis of the daily NOT/USD chart indicates that the altcoin has successfully emerged from a falling wedge pattern. This technical formation occurs when prices are contained between two converging descending trendlines, with the upper trendline declining at a sharper angle than the lower one. In Notcoin’s scenario, breaking above the upper trendline suggests that bullish momentum has taken hold. Should buying pressure persist, Notcoin’s price may rise to $0.010.
### Notcoin Daily Analysis
If the market experiences a strong bullish phase, the price of NOT could potentially reach $0.012. Conversely, if selling pressure increases, it may fall back to around $0.0074.
### Ergo (ERG)
For Ergo, this marks its inaugural appearance among the top trending altcoins. For those who may not be familiar, Ergo is a self-amending protocol that leverages smart contracts to promote financial inclusivity. Similar to Notcoin, ERGO is trending due to a price increase, having surged by 73.79% over the past week. Nonetheless, the token has faced resistance at the $1.32 mark, as illustrated on the daily chart. While bullish support has consolidated at $1.22, current trading volume suggests that the prevailing buying pressure could be sufficient to sustain an upward trend. If this dynamic continues, the price of the altcoin might decrease to around $1.00.
### Ergo Daily Analysis
However, if buying interest intensifies, the outlook could shift positively, potentially allowing ERG’s price to rebound toward $1.43.
### First Convicted RACCON (FRED)
First Convicted RACCON rounds out the list and is trending primarily due to its price fluctuations and its connection to Peanut the Squirrel (PNUT). Similar to Peanut, the Raccoon was also seized by state officials in New York, leading to the creation of the FRED meme coin. Following PNUT’s recent listing on Binance just two days ago, FRED’s price has skyrocketed, marking a 193% increase in the last 24 hours. At present, FRED is trading at $0.26 and could see further gains if PNUT’s price continues to rise.
### First Convicted RACCON 1-Hour Price Chart
Nonetheless, the token could experience a downturn if a significant number of holders decide to sell, which may result in FRED’s price dropping below $0.20.
### Disclaimer
In accordance with the Trust Project guidelines, this analysis aims to provide information and should not be interpreted as financial or investment advice. BeInCrypto is dedicated to delivering accurate and impartial reporting, but market conditions can change rapidly. Always perform your own research and consult with a financial professional before making any investment decisions. Please be aware that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
