Cryptocurrency
Cryptocurrency Market Update: Altcoins Gainers and Price Analysis
Saturday. June 22 at 7:00 AM
1 min. readThe past week witnessed a decrease in trading activity in the cryptocurrency market, resulting in a 4% drop in global market capitalization. Despite this, certain altcoins like Ethereum Name Service (ENS), Lido (LDO), and Pendle (PENDLE) saw significant price growth. ENS, the token for Ethereum Name Service, surged by 20% to $25.31, with a notable increase in trading volume. Positive sentiment and technical indicators like Relative Strength Index (RSI) and Money Flow Index (MFI) suggest a bullish trend for ENS. LDO, the governance token for Lido Finance, experienced a 13% price increase and is trading above key moving averages, indicating a strong uptrend. Similarly, PENDLE, the governance token for Pendle, rose by 11% to $5.78, with bullish signals from the moving average convergence divergence (MACD) indicator. If current trends persist, these altcoins could see further price gains, but a bearish scenario may lead to price corrections.