Why These Altcoins Are Trending Today — March 18

The cryptocurrency market capitalization has increased by $50 billion over the past 24 hours, reflecting the surge in trading activity. 

As the market scampers to make profitable trades, investors are paying attention to some altcoins, some of which include Lisk (LSK), Cronos (CRO), and Dymension (DYM). 

Lisk (LSK)

Layer-2 token LSK is one of today’s trending altcoins. It currently trades at $0.57, registering a 1% uptick in the past 24 hours.  Over the past week, LSK’s price has risen by 6%.

However, during the same period, the token’s Chaikin Money Flow (CMF) has descended, forming a bearish divergence. At press time, this momentum indicator is below zero at -0.28.

An asset’s CMF tracks how money flows into and out of it. When it falls during a price rally, a bearish divergence emerges. This trend indicates that the LSK price rally lacks strong backing and suggests that buying pressure is weakening despite the price increase. 

If the trend continues, it could trigger a price reversal or a correction as momentum fades. LSK could shed its gains and fall to $0.0000063 in this case. 

LSK Price Analysis. Source: TradingView

However, if the uptrend continues, LSK could reach $0.0000098.

Cronos (CRO)

CRO is a trending altcoin today. Crypto.com ignited controversy within its community after proposing to re-mint 70 billion CRO tokens.  The token has bucked the broader market rally to record a 10% price drop in the past day.

On the daily chart, the coin’s plummeting Balance of Power (BoP) confirms the weak demand among market participants. As of this writing, the momentum indicator, which tracks buying and selling pressure, is in a downtrend at -0.95.

CRO’s negative BoP indicates that selling pressure is stronger than buying pressure, suggesting bearish dominance in the market. This means the coin’s sellers are controlling price action, potentially leading to further declines.

If bearish dominance persists, CRO’s price could fall to $0.06.

CRO Price Analysis. Source: TradingView

On the other hand, if accumulation increases, the altcoin’s price could rally to $0.08. If it flips this into a support flooR, CRO’s price could climb to $0.10.

Dymension (DYM)

DYM is up 40% in the past 24 hours. During the same period, its trading volume totaled $162 million, increasing by 338%. When an asset’s price and trading volume climb simultaneously, it indicates strong buying pressure and market interest. 

DYM’s high trading volume confirms that its price increase is backed by significant participation, reducing the likelihood of a false breakout. This trend is a bullish signal, suggesting continued momentum if demand remains strong.

In this case, the altcoin’s price could climb to $0.66. 

DYM Price Analysis. Source: TradingView

Conversely, if the decline continues, DYM could revisit its all-time low of $0.27.