Join Our Telegram channel to stay up to date on breaking news coverage
The entire crypto market is going through an upheaval. The positive part of this is that no one can look away from the crypto market, but the negative is that the cryptocurrencies trending today are not all doing so for the right reasons. The global crypto market capitalization stands at $908.39 billion, a nearly 2% decrease from yesterday.
Ethereum is facing a continuous downtrend after the Merge’s arrival. The same is true of its fork, ETH PoW, which is also looking to go further downtrend in the future. The good news is that it has put Ethereum Classic (ETC) back into the news. XRP has made the news because of its current battle with the Security Exchange commission. On the other hand, Bitcoin is going through the sub $20k phase once again, signaling that the lowest of this year is yet to come.
On the good news front, Pancakeswap is starting to make waves with its exchange listing, and Shiba Inu’s P2E game is finally here. Tamadoge is just a day away from declaring a CES listing, and as a result, the crypto of the blockchain it is based on – Binance Smart Chain – is also seeing significant price movement.
Let us go through these cryptocurrencies trending today and get a closer look at their price action.
Cryptocurrencies Trending Today for Less-Than-Stellar Reasons
Ethereum: Post Merge Ethereum is not looking good right now
Ethereum Merge came holding many promises. “To the $10k valuation we go,” – many said on Twitter. However, Ethereum has been on a continuous downtrend since the Merge, with no signs of letting up. The price chart some bounce, but all of them reek of desperation as these sudden uptrends are only marginal and don’t last long. Currently, it is trading at around $1.25k.
However, the current RSI indicator is below 40 – 37.87, signaling that from a technical POV, a rebound is a way. Another reason that a major bounce will happen soon is because of this token’s new, deflationary status quo. However, the deflation effects have yet to set, and we’re likely seeing a downtrend because many who had less faith in the Merge got rid of their ETH holdings rather quickly.
Your capital is at risk.
ETHW: A Proof of Work hard fork of Ethereum That’s Speeding Down
Ethereum’s fork, the ETHW, is a token that’s not getting any love from the crypto crowd. Many cryptocurrency exchanges quickly stated that they wouldn’t support the new fork, and its impact is showing. The crowd is getting increasingly less interested in this cryptocurrency.
That said, some cryptocurrency exchanges are willing to give this proof-of-work Ethereum a shot. Crypto.com recently announced that it listed ETHW.
🔔 Following the Merge, EthereumPoW is now listed in the https://t.co/vCNztATSCO App!
Buy $ETHW with USD, EUR, GBP, and 20+ fiat currencies.Download the App to buy, sell, and send #ETHW now 👉 https://t.co/jt6bDD9fig
For more details – https://t.co/EDSVPfCG3H@EthereumPoW pic.twitter.com/xbhEap69W4
— Crypto.com (@cryptocom) September 21, 2022
Despite that declaration, the crowd’s inclination towards this crypto is showing nothing positive. The RSI (Relative Strength Index) of this crypto is 27.14, meaning that holders are getting rid of it right now to invest in a higher-valued and more optimal ETH.
Your capital is at risk.
Ethereum Classic: The Pre-Merge bull Rally has Died
Ethereum Classic saw a massive uptick as the Merge update drew close. It was partly because many Ethereum miners migrated to this blockchain in fear of becoming obsolete. For a while, this mass migration did prove great. ETC’s price saw massive bursts of upswings during the early days of September.
However, it didn’t last long as the Merge’s arrival pushed the interest away from ETC and punched the ETC price down below $30. Although a minor bounce did happen, it was not enough, and the price is once again near $28 at the time of writing.
However, the relative strength index of this crypto now stands at 37.8 – signaling that we can expect a similar price action for ETC as ETH.
Your capital is at risk.
Bitcoin: Once again, below $20k
A few days ago, we talked about how Bitcoin has persisted in staying above the $21k mark. It gave us hope this cryptocurrency will soon punch up and bring good news to the crypto market. As it stands, cryptocurrency is still volatile as ever. And the current price has many worried because it has not gotten farther away from its $20k resistance since September 18th. While there are some spikes in the BTC price action, the value still hovers around $19k – and more often below it.
At the time of writing, BTC is selling at around $18.5 k – far lower than the 100k valuation many market “experts” gave this crypto at the beginning of this year.
Despite this bad news, the technical indicators say an uptrend is coming. The RSI currently stands at 38.32 – closer to 30. You can expect an alert that Bitcoin is above 20k once again.
Your capital is at risk.
Cryptocurrencies Trending Today for positive Reasons
Ripple: XRP’s battle with SEC has Unintentionally Spiked the Interest in Crypto
XRP is currently trading at $0.42. Its price gradually increased in the past week, increasing from $0.32 on September 17th. This 20% weekly increase establishes a great momentum for this cryptocurrency – but will the price keep going up?
SEC & Ripple are both calling for an immediate ruling in the $XRP lawsuit for a final decision on whether XRP is a security or not
We could see the final decision very soon. From my understanding XRP has presented a strong case to win. pic.twitter.com/JxH75O0XvQ
— Johnny (@CryptoGodJohn) September 20, 2022
The current price action is largely due to the battle between XRP and the Security Exchange Commission. The latter intends to mark XRP as a security. In response, Ripple has said that XRP holders are given no value. Whatever the current state of this battle is, the curtain is dropping soon as the day of final judgment is getting closer.
The current RSI is dangerously close to 70 – signaling that the token is close to getting overbought. That means a sudden correction may come soon, but that’s strictly from a technical point of view.
Your capital is at risk.
PancakeSwap: The Exchange is now Part of Opera’s Web 3 browser
Another cryptocurrency that is in the news for positive reasons is PancakeSwap. Opera has recently added PancakeSwap to its Web3 browser as an extension – making it easier for interested parties to buy crypto on this DEX.
.@PancakeSwap is now live in our wallet! 🙌 You can now swap for your favorite tokens via BNB chain with our integration with PancakeSwap, giving you direct access to some of the lowest swap fees in Web3! https://t.co/om9pvzG6vu pic.twitter.com/xl8qb5TlFg
— Opera Crypto (@Opera_Crypto) September 20, 2022
The native crypto of PancakeSwap – CAKE – is currently trading at $4.28, 29% higher than it sold a week ago.
And the RSI performance Cake also doesn’t look too shabby. An increasing momentum might be on the way for this cryptocurrency.
Your capital is at risk.
Shiba Inu: Old Memecoin is finally out with its P2E game
Memecoins are now following a more “utility-based” path in response to the bear market. Dogecoin foundation is working towards a better ecosystem to make DOGE more viable crypto. Then there is Shiba Inu, a cryptocurrency that recently released its P2E game after a long time.
#ShibArmy, @shibaeternity is now Available in Australia's Google Play Store, as well as the Apple App Store! https://t.co/sbpsu9e7CH
Woof! pic.twitter.com/5LATDBbWNf
— Shib (@Shibtoken) September 19, 2022
Shiba Inu is trading at $0.000011 at the time of writing. Despite the low price, SHIB still ranks 14 on CoinMarketCap by market capitalization.
Although the above RSI indicates that there is a bit of an overselling right now, the game’s performance will be something to see.
Your capital is at risk.
Tamadoge: A P2E Memecoin getting ready for CEX listing
Tamadoge is one of the biggest and the most successful crypto presales this year, meeting its presale target before the end of Q3 of this year. Many who waited till the last phase of the presale were disappointed because an ETH whale snagged 55.8ETH worth of Tamadoge as soon as the presale reached the 9th stage.
Tamadoge is a P2E ecosystem powered by TAMA tokens and Tamadoge Pets. Tamadoge Pets are NFTs that players would be able to own, raise and put to battle in a PVE environment. The game is going to reward players based on their skills.
Now that the presale has ended, an announcement of the CEX listing is on the way. Interested parties who couldn’t make a buy during the presale still have a chance to grab this memecoin which has 10x to 50x potential, according to CNBC.
Helium: A Shift to Solana Blockchain has resurrected this crypto
Helium recently left behind its own blockchain for Solana, a move that surprised most of the crypto crowd but was understandable. The new status quo makes the Helium network ripe for growth.
HNT has followed a declining trend since the end of June 2022, instilling fear among crypto enthusiasts. The recent transition to Solana allowed HNT to establish a bullish engulfing pattern, and its price is now stable.
👋 Say hello to @Helium_Mobile! The world’s first cryptocarrier, bringing the power of #ThePeoplesNetwork right to your phone in partnership with @TMobile!
Read more here: https://t.co/SAO1OpzjWP pic.twitter.com/oWfOBKqYbr
— Helium🎈 (@helium) September 20, 2022
Another reason behind the token’s stability is Helium’s partnership with T-Mobile. This new development will likely attract more HNT buyers.
Your capital is at risk.
Binance Coin (BNB):
The introduction of new gaming ecosystems, such as Battle Infinity on the Binance blockchain, has positively impacted Binance Coin. The token is currently trading near $265.
Binance coin has faired relatively well during the crypto bear market with the introduction of more Fan tokens on its platform. Currently, it is trading in line with its moving average.
Your capital is at risk.
Cryptos are Still Reeling from the Crypto Winter
The current trend suggests the crypto winter is far from over. However, the positive lies with more crypto assets putting forth better use cases in the blockchain space that would likely increase the adoption rate.
Read More
Join Our Telegram channel to stay up to date on breaking news coverage
