Although the cryptocurrency market is in a downturn, with the market capitalization dropping 2.56% to $2.52 trillion, some tokens have made big moves and shown notable gains. The top five gainers on CoinMarketCap as of today were Ondo (ONDO), Lido DAO (LDO), Chainlink (LINK), Monero (XMR), and Ethereum Classic (ETC).
ONDO has shown a significant bullish trend over the past 24 hours, rising from around $0.9665 to a peak of $1.15 before settling at $1.07, indicating a 10.30% increase in price, with trading volume growing by 145.88%. The trend started with a steady uptrend and showed strong bullish momentum, peaking around $1.15, which is now a temporary resistance level.
Price consolidation around the $1.07 mark suggests that this could develop into a new support level. Factors such as Coinbase’s ONDO-PERP rollout could have fueled this surge, boosting investor confidence and market activity.
Lido DAO (LDO)
Lido DAO price movement has also been mostly bullish. It started at $2.1096, reached a high of around $2.35, and finally closed around $2.26. This upward trend was characterized by consistently higher lows, indicating strong buyer sentiment. The trading day saw a significant increase in trading volume of 151.79%, indicating active market participation.
Support levels are gradually forming, especially around $2.15 and $2.20, with $2.35 taking hold as a key resistance level. The volume/market cap ratio of 23.38% further highlights the active trading environment.
Chainlink (LINK)
Chainlink's trading session was marked by volatility. The price initially dropped to a low around $16.50 before finding a strong support level and rising to a high near $17.50. The day ended at around $16.80, marking an overall increase of 1.38%.
The bounce off the support level indicates strong buying interest that has switched momentum from bearish to bullish. Trading volume has surged by 82.01%, suggesting that the price movement is supported by heavy trading activity. The resistance at $17.50 is important and a breakout above this could signal further upside.
Monero (XMR)
Monero has been showing an upward trend over the past 24 hours, with the price rising from a low of $138.50 to above $141 and facing resistance at $141.50. The price increase is supported by a 24.31% increase in trading volume, indicating strong buyer engagement.
The key resistance is at $141.50 and a break above this level could target $143.00.The overall bullish momentum is supported by a rising RSI and up-sloping moving averages, suggesting that buyers are in control.
Ethereum Classic (ETC)
Finally, Ethereum Classic (ETC) saw bullish momentum with notable volatility. After starting from a low of $31.27, ETC reached a high of around $34.00. A massive 234.81% increase in trading volume highlights the increased activity and interest.
ETC/USD 24-hour price chart. Source: CoinMarketCap.
Resistance is at $34.00 and potential pullback support is at $31.50 and $31.27. The bullish trend suggests that if the price can break out of the $34.00 level, it may continue and head towards the higher resistance.
