Why These Altcoins Are Trending Today — April 18

The cryptocurrency market is showing signs of recovery, gaining momentum over the past 24 hours. As investor optimism climbs, the total crypto market capitalization has added another $24 billion. 

Amid this rebound, some altcoins have captured traders’ attention. Among them are Sui (SUI), Fartcoin (FARTCOIN), and MANTRA (OM).

Sui (SUI)

SUI’s price has noted a modest 2% gain over the past day, mirroring the broader market uptick. At press time, the Layer-1 coin trades at $2.12. 

On the SUI/USD one-day chart, readings from the coin’s Moving Average Convergence Divergence (MACD) indicator reflect the growing demand for SUI. At press time, its MACD line (blue) rests above its signal line (orange).

The MACD indicator tracks an asset’s trend changes and identifies its potential buy or sell signals. When the MACD line crosses above the signal line, it often indicates bullish momentum and a possible upward price movement.

If SUI’s buying pressure strengthens, its price rally could reach $2.33. 

SUI Price Analysis. Source: TradingView

On the other hand, if demand wanes, SUI’s value could dip to $1.61.

Fartcoin (FARTCOIN)

Solana-based meme FARTCOIN has bucked the broader market rally to record a 15% price dip over the past day. At press time, the altcoin trades at a seven-day low of $0.75.

Moreover, FARTCOIN’s double-digit price decline is accompanied by a corresponding fall in its trading volume, reflecting the selloffs among spot market participants. As of this writing, it totals $317 million, plunging 9% over the past 24 hours.

When an asset’s price and trading volume both fall, it signals weakening market interest and reduced investor participation. 

This combination indicates a lack of confidence in FARTCOIN’s short-term direction. Hence, if selling continues, the meme coin’s value could breach the $0.74 resistance and fall toward $0.37.

FARTCOIN Price Analysis. Source: TradingView

Conversely, a spike in demand could push the token’s value up to $1.16.

MANTRA (OM)

OM’s price is down 6% today. At press time, its Chaikin Money Flow (CMF) was below the zero line, indicating a strong bearish bias against the token. This momentum indicator is currently at -0.44.

A negative CMF value like this indicates that selling pressure outweighs buying pressure, suggesting capital is flowing out of the token. This signals bearish sentiment against OM and points to continued weakness in its price.

In this scenario, OM could revisit its year-to-date low of $0.093.

OM Price Analysis. Source: TradingView

However, a spike in buying activity could push its price toward $2.23.