Why These Altcoins Are Trending Today — April 29

The crypto market has seen an uptick in trading activity over the past 24 hours, with the total market capitalization climbing by $21 billion. 

This has pushed several altcoins into the spotlight, as traders look to capitalize on short-term gains. Among the most-searched tokens today are Sign (SIGN), Fartcoin (FARTCOIN), and Zora (ZORA). Here’s a closer look at why these altcoins are trending.

Sign (SIGN)

Sign is an omnichain attestation protocol designed to power on-chain identity, ownership, and credentials claims. Its newly launched native token SIGN is one of today’s trending altcoins. 

As of this writing, SIGN trades at $0.10, marking a 70% surge in the past 24 hours. The double-digit rally follows an announcement by Upbit, South Korea’s largest cryptocurrency exchange, confirming the token’s listing during the early Asian trading hours today.

Today, SIGN’s trading volume has totaled $800 million, and is still rising. When an asset’s price and trading volume increase simultaneously, it signals strong market interest and increased investor confidence. 

This combination confirms the strength of SIGN’s price movement, suggesting the rally is supported by buying pressure rather than speculative spikes. If demand soars, the token’s price could climb above $0.11.

SIGN Price Prediction. Source: TradingView

On the other hand, if selling pressure gains momentum, SIGN could fall to $0.09.

Fartcoin (FARTCOIN)

Solana-based meme coin FARTCOIN is another trending asset today. Over the past day, it has bucked the broader market rally to record a 3% price dip. It currently trades at $1.14.

Despite this pullback, FARTCOIN bulls remain in control, as reflected by its Elder-Ray Index. As of this writing, the indicator’s value is 0.21, above the zero line.

The Elder-Ray Index indicator measures the strength of bulls and bears in the market by comparing buying pressure (Bull Power) and selling pressure (Bear Power). When the value is positive, the market has more buying pressure. 

If this continues, FARTCOIN could break above $1.16 and rally toward $1.29. 

FARTCOIN Price Prediction. Source: TradingView

Conversely, if demand dips, the meme coin’s price could fall to $0.94.

Zora (ZORA)

ZORA is trading at $0.0154 at press time, noting an 18% price decline over the past day. The token’s plunging on-balance volume (OBV) on an hourly chart confirms the selling pressure in the market. 

The OBV indicator measures cumulative buying and selling pressure by adding volume on up days and subtracting it on down days. When it drops like this, selling pressure outweighs buying activity. 

This signals weakening bullish momentum in the ZORA market and suggests a potential price decline if the trend continues. In this case, the altcoin’s price could revisit its all-time low of $0.0151, and fall below.

ZORA Price Prediction. Source: TradingView

However, if demand increases, the token’s price could rally to $0.0170.