Currently, the cryptocurrency market is showing mixed signals with most coins marking dormant or bearish movements due to uncertainty ahead of the New Year 2025. However, other altcoins are making the most of the situation by leaving their mark.
BeInCrypto has analyzed three such altcoins that are trending today due to some developments surrounding them, making them a desirable option.
ZEREBRO
ZEREBRO has become a trending crypto asset over the past few days after listing perpetual futures on the OKX exchange. The listing has increased attention on the AI-focused cryptocurrency, positioning it as a key player in the emerging AI sector.
The launch of perpetual futures has had a significant impact, with the price of ZEREBRO rising almost 40% in the last 24 hours. Despite this surge, the altcoin remains in a consolidation phase, trading in a range of $0.434 to $0.291, awaiting stronger breakout signals.
If broader market conditions remain favorable, ZEREBRO could rise and break out of the consolidation range, targeting $0.500 as its next milestone. However, failure to maintain this upward momentum will lead to continued consolidation, which will delay further price gains.
Solar Power (SXP)
SXP’s price is up nearly 23% in the last 24 hours thanks to the release of Solar’s full-year report, which highlights a strong 2024. The positive outlook has boosted investor confidence, positioning SXP as one of the trending altcoins of the day.
If the bullish momentum continues, SXP could rise to $0.40 or higher, reaching $0.48. Reaching this milestone would allow the altcoin to recover almost all of its recent losses of 38%, which would signal a strong turnaround for the cryptocurrency.
However, failure to overcome resistance could result in a fall to $0.31. Such a decline would negate the bullish outlook and potentially dampen the enthusiasm around SXP’s recent rally.
Squirrel Peanut (PNUT)
The once bullish meme coin PNUT has taken a breather, falling to $0.69 despite rising 8% over the past 24 hours. However, the altcoin still needs to recover from recent losses and gain momentum to maintain investor interest.
A recovery is possible if PNUT returns $1.00 as support, setting the stage for further gains. A breakout of this level could push the meme coin towards $1.69, which would signal renewed bullish momentum and reverse the recent decline.
Conversely, failure to maintain bullish momentum could keep PNUT below $1.00, potentially pushing the price down to $0.44. Such a decline would invalidate bullish forecasts and increase investor concerns.
