- All three coins are showing strong bullish momentum amid market fluctuations.
- Technical indicators indicate further growth potential for BONK and SUI.
Over the past 24 hours, the global cryptocurrency market is down 0.95%, bringing the total market capitalization to $2.25 trillion. However, trading volume in the market increased by 31.83%, reaching $81.14 billion. Total DeFi volume currently stands at $4.6 billion, representing 5.67% of the total 24-hour cryptocurrency market volume.
Meanwhile, stablecoins account for 91.83% of trading volume, with $74.51 billion in transaction volume. Bitcoin’s dominance fell slightly by 0.19% to 55.87%, followed by Ethereum with 14.1%. Despite the overall market correction, several assets, including BONK, Fantom (FTM) and Sui (SUI), posted strong gains..
Bonk (BONK)
BONK is currently trading at $0.00002572, up 9.37% over the past day. This rally was fueled by a significant increase in trading volume of 67.62%, bringing it to $489.57 million with a market capitalization ratio of 27.15%. Market sentiment remains bullish with the relative strength index (RSI) hovering at 74.83, indicating an overbought condition.
BONK remained consistently above key moving averages with strong support at $0.00002170 and resistance at $0.00002590. The overall momentum suggests further upside, but traders should remain wary of a possible correction due to the elevated RSI.
Phantom (FTM)
Over the past 24 hours, Fantom shares are up 9.01%, reflecting growing investor confidence, especially after the market cap rose 8.30% with 24-hour volume of $276.68 million. The volume to market cap ratio is 15.33%. . The RSI is at 68.27, approaching overbought territory, signaling investors to be cautious as momentum approaches a peak.
FTM moving averages are showing a bullish direction with the 9-day moving average ($0.6798) acting as strong support and resistance at $0.7360. If the uptrend continues, Fantom could see additional gains, but the market could soon face consolidation.
Sui (SUI)
Sui (SUI) also posted significant gains, rising 8.96% to $1.89. Its market capitalization reached $5.17 billion with a market capitalization ratio of 3.40%. Market sentiment remains positive with the RSI at 60.03, indicating a healthy balance between buyers and sellers.
SUI price is well supported by the 21-day moving average ($1.82) with resistance at $1.91. As long as volume continues, SUI has the potential to break through higher resistance levels, maintaining an upward trajectory.
Disclaimer: The views expressed in this article are solely those of the author. It does not constitute any investment advice. TheNewsCrypto team encourages everyone to do their own research before investing.
