TOP 3 altcoins with prominent trends today – April 18

The cryptocurrency market is gradually regaining its green color as it shows clear signs of recovery in the past 24 hours. The optimistic sentiment is returning to investors, contributing to an increase of 24 billion USD in the total market capitalization.

In this positive context, several prominent altcoins are attracting strong attention from traders. Among them are Sui (SUI), Fartcoin (FARTCOIN), and MANTRA (OM).

Sui (SUI)

The price of SUI has recorded a modest increase of 2% over the past day, reflecting the overall recovery trend of the cryptocurrency market. At the time of writing, this Layer-1 token is being traded around $2.12.

SUI/USDT Daily Chart | Source: TradingViewOn the daily timeframe, the SUI/USD chart shows positive signals from the MACD (Moving Average Convergence Divergence) indicator, indicating that buying pressure for SUI is on the rise. Specifically, the green MACD line (has crossed above the orange signal line )– a technical indicator often regarded as a buy signal.

MACD is a widely used analysis tool to track changes in price trends and identify potential entry points. When the MACD line crosses above the signal line, it often indicates that bullish momentum is strengthening, opening up the possibility for a new upward move.

If buying continues, SUI can extend the rally and head to the next resistance zone around $2.33. Conversely, in case of weakening buying pressure, the coin risks retreating to the critical support at $1.61.

Fartcoin (FARTCOIN)

FARTCOIN – a meme coin on the Solana ecosystem – is moving against the trend of market recovery, having dropped by 15% in the last 24 hours. Currently, this altcoin is trading around $0.75 – the lowest level in a week.

Daily chart of FARTCOIN/USDT | Source: TradingViewNotably, the sharp drop in price is accompanied by a corresponding contraction in trading volume, indicating that selling pressure is increasing in the spot market. As of now, the trading volume of FARTCOIN stands at 317 million USD, down 9% from the previous day.

The simultaneous decline in price and trading volume is often a signal that market sentiment is turning negative, with a noticeable withdrawal of investment funds.

This data set reflects the weakening of confidence in the short-term outlook of FARTCOIN. If selling pressure continues to increase, this token may break through the support level of $0.74 and continue to plummet towards the $0.37 region.

On the contrary, in a positive scenario, if demand suddenly surges, FARTCOIN could completely reverse and head towards the important resistance level at $1.16.

MANTRA (OM)

The price of the OM token has decreased by 6% in today's trading session. At the time of this writing, the Chaikin Money Flow (CMF) indicator is below the 0 threshold, specifically at -0.44 – a clear signal indicating that the bearish trend is prevailing in the market.

! Daily OM/USDT chart | Source: TradingViewSuch a deep negative CMF value reflects that selling is overwhelming against buying, while also indicating that capital is withdrawing from OM. This partly reflects the pessimistic sentiment of investors and implies that downward pressure on prices may continue in the near term.

If this negative trend continues, OM is likely to return to test the bottom established since the beginning of the year, around the $0.093 mark.

However, in the event of a strong unexpected buying force, the price of OM could completely recover and head towards the important resistance area near $2.23.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making any decisions. We are not responsible for your investment decisions.

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