Why These Altcoins Are Trending Today — March 25

19h ago•

bullish:

bearish:

The crypto market has witnessed a surge in trading activity over the past 24 hours, with the total market capitalization rising by $38 billion over the past day.

Amid this bullish momentum, some altcoins have drawn significant investor attention. Some of these include Nillion (NIL), Movement (MOVE), and Berachain (BERA).

Nillion (NIL)

Newly launched NIL, the native utility token for Nillion, a private computation and storage network, is one of today’s trending altcoins.

NIL launched with a total supply of 1 billion tokens, distributing 195.15 million tokens to the community via an airdrop on day one, setting its initial market capitalization at $165 million. However, the rise in profit-taking activity has led to a dip in the altcoin’s price. Its market value has declined 4% to $159 million, with the token currently trading at $0.81.

As NIL’s price falls, its trading volume soars, forming a negative divergence, suggesting strong selling pressure and that more traders are offloading their holdings.

This is a bearish signal as NIL buyers struggle to absorb the increased supply. If this continues, the token could extend its decline and fall below resistance at $0.80. In this scenario, NIL’s price could drop further to $0.73.

NIL Price Analysis. Source: TradingView

Conversely, an influx of new demand would prevent this from happening. In that case, the token’s price could climb to $0.85.

Movement (MOVE)

MOVE is up 7% over the past day, and is one of the most searched altcoins today. It currently trades at a seven-day high of $0.46 amid growing demand.

On the daily chart, the positive readings from MOVE’s Balance of Power (BoP) highlight the strengthening buying pressure. At press time, this key momentum indicator is above zero at 0.55.

An asset’s indicator measures the strength of buyers versus sellers by analyzing its price movements within a given period. When it is positive, it indicates that buyers are in control, suggesting upward price movement.

If MOVE buyers strengthen their dominance, its price could breach the $0.49 resistance and rally toward $0.61.

MOVE Price Analysis. Source: TradingView

However, if sellers regain market control, the token’s price could fall to $0.37.

Berachain (BERA)

Layer-1 (L1) coin BERA is another altcoin trending today. It is up 12% in the past day, mirroring the broader market rally. As of this writing, the coin trades at $7.71.

However, this double-digit surge appears not to be backed by any significant demand for BERA, as reflected by its negative Chaikin Money Flow (CMF). At -0.01 and in a downtrend at press time, BERA’s CMF forms a bearish divergence that hints at a possible price correction.

The CMF indicator measures how money flows into and out of an asset. When it declines into negative territory during a price rally, it forms a bearish divergence. This indicates that the asset’s uptrend may be losing strength, potentially signaling an upcoming price correction.

If BERA’s price experiences a pullback, it could fall to $7.45. If this support fails to hold, the coin’s value could decline further to $6.11.