Why These Altcoins Are Trending Today — April 8

The crypto market is recovering, with total market capitalization climbing by $48 billion in the past 24 hours. 

This broad rebound has lifted investor sentiment and brought attention to a handful of standout altcoins, including Epic Chain (EPIC), Berachain (BERA), and Pi Network (PI).

Epic Chain (EPIC)

EPIC is one of today’s trending altcoins. In line with broader market trends, its price has increased 1% over the past day and currently trades at $1.35. 

However, its negative Balance of Power (BoP) signals that bearish pressure remains dominant. At press time, EPIC’s BoP is below zero at -0.32, highlighting the preference for selloffs. 

The BoP indicator measures the strength of buyers versus sellers within a specific time period. When its value is negative like this, it suggests that sellers are dominating the market, indicating bearish pressure and a higher likelihood of downward price movement.

If EPIC reverses its current trend and declines, its price could fall to $1.29.

EPIC Price AnalysisEPIC Price Analysis. Source: TradingView

However, if the token maintains its uptrend, its price could reach $1.46. 

Berachain (BERA)

BERA is another altcoin that has caught investors’ attention today. It has bucked the broader market rally to record a 9% price decline in the past day.

Notably, its trading volume is up 11% over the past 24 hours, totaling $241.34 million. When an asset’s price falls while trading volume rises, it signals strong selling pressure. 

This means more  BERA traders are actively selling the asset. High trade volumes like this during a price decline confirm the strength of the downtrend and suggest that further losses may follow.

If this persists, BERA could extend its decline and fall to $2.82.

BERA Price Analysis. Source: TradingView

On the other hand, if the bulls regain dominance, they could drive the coin’s price to $5.37.

Pi Network (PI)

Today, PI’s price has climbed by 1%, and it trades at $0.57 at press time. However, the altcoin appears poised to maintain its 41-day decline, during which its price has fallen by 81%. 

Readings from its Relative Strength Index (RSI) confirm this. At press time, this is in a downward trend at 36.55, reflecting the weakening demand for PI.

The RSI indicator measures an asset’s overbought and oversold market conditions. It ranges between 0 and 100. Values above 70 suggest that the asset is overbought and due for a price decline, while values under 30 indicate that the asset is oversold and may witness a rebound.

PI’s RSI reading indicates that selling pressure is dominant, and the altcoin could still see more price declines before it becomes oversold. In this instance, PI’s value could dip to $0.40. 

PI Price Analysis. Source: TradingView

However, a positive shift in market sentiment toward PI will invalidate this bearish outlook. In that case, the token’s price could breach $0.61 and climb toward $0.86.