Top Crypto Gainers on 15 March – SOL, WLD, and WIF
The crypto market has been divided into two sections: one section featuring top gainers and the other section hoarding poorly performing assets.
The top gainers' performance has attracted many traders and investors alike, which is why the broader market's trading volume is up while the market cap is down.
Data from CoinMarketcap shows the overall trading volume in the last 24 hours is up by 60.61% to $217.45 billion, while the market cap is down by 6.91% to $2.57 trillion.
Among the top crypto gainers, some assets boasting enriching potential and promising outlooks are SOL, WLD, WIF, and SMOG.
Whether you intend to invest in them or simply look for assets to diversify your crypto portfolio, these could be your best bet.
But remember that cryptocurrency prices are subject to various economic and non-economic factors, such asmarket trends, technological advancements, regulatory news, etc.
So, be sure to have your predefined risk management strategy before making any decisions. Meanwhile, let's see why these assets are performing well today and where their prices could reach in the long run.
Solana (SOL) - Meme Coin Launchpad Flourishing with Ecosystem-related Developments
Solana (SOL) has recently performed well compared to other cryptocurrencies, even though the overall market isn't doing great. While Bitcoin dropped, SOL's price increased by about 7%, hitting $180.
Now, Solana is working with Binance's Web3 wallet, which makes it easier for people to manage their tokens and use decentralized apps (dApps).
#Binance Web3 Wallet is now integrated with @solana!
You can now easily manage, trade, access dApps and participate in upcoming airdrops with the wallet!
Start here
- Binance Web3 | NFT | Inscriptions (@Web3WithBinance) March 15, 2024
This collaboration brings new opportunities for users, such as access to apps such as Drift, Dual Finance, and Magic Eden through the Binance Web3 Wallet. It gives users a safer and more user-friendly way to do different things with their cryptocurrencies.
SOL Bounces from Dynamic Support Level - Can The Rally Last?
In the chart above, Solana (SOL) has maintained its uptrend, recording a series of higher highs and higher lows since the past month. Also, in the last 11 days, the coin bounced after nearing its dynamic support marked by the 50-day Simple Moving Average (SMA).
Following this price action, the coin has formed a weekly green candlestick streak, which shows a consistent increase in buying pressure. As such, its price is expected to rally further toward the $200 mark throughout the weekend.
Furthermore, SOL is boasting a bullish market trend, given its 200-day SMA position in the chart above.
Again, the Moving Average Convergence Divergence (MACD) is above the signal line with bold green histogram bars. This confirms the strength of the bullish momentum that can propel SOL further upward.
With these combined, the price of Solana (SOL) could touch $200 by the weekend and potentially approach the $250 level in the coming week.
As with every digital asset, volatility is inevitable and unpredictable. For that, it's advisable to have an ideal risk management strategy like setting stop loss and taking profit levels to make the most of the market ahead of any dip.
Worldcoin (WLD) Revolutionary Project with Robust Identity Authentication Techniques
Worldcoin (WLD) has emerged as a top gainer by trading volume in the last 24 hours. It boasts a 129.45% increase in trading volume, with the value settling around $1.13 billion today.
However, its price is down by $0.86% to $9.38 because of the regulatory hurdles the system faced in Spain.
Notwithstanding, Worldcoin's token performance remains surprisingly resilient. In a recent stride towards establishing the world's most extensive identity and financial network, the system underwent a rigorous security audit, with a preliminary report from Trail of Bits.
The absence of critical security flaws was spotted, and now the system is set to fortify its platform against potential hacking threats. One of the robust identity verification techniques implemented to strengthen its security is the innovative Orb device for biometric data authentication.
. @Worldcoin is building the world's largest human network to improve trust online and access to the global economy.
Pass by Worldcoin's booth and learn all about their vision for a new identity and financial network at Pragma London! pic.twitter.com/iQtpEHAVLZ
- ETHGlobal (@ETHGlobal) March 12, 2024
Despite initial concerns regarding the security of iris scan data, the audit confirmed the system's resilience against breaches, with recommended upgrades further enhancing its integrity.
As it maintains its stance on legal compliance while contesting perceived overreach by regulatory authorities, it advances its mission of revolutionizing identity verification and financial accessibility.
WLD's Resistance Turns Support at the $9.4 Level - What's Next, Bounce or Dip?
The performance of Worldcoin (WLD) today hints at volatility within reach despite its potential for a price surge. In the bearish scenario, it trades in line with its new horizontal support level, a previous level marked as resistance. This action hints at mixed signals, a breakout, or a bounce.
The entry of sellers at this level could trigger a break below this level, pushing the price down. Also, the Relative Strength Index (RSI) at 59.91 is plunging. If selling pressure increases, the RSI could reach 30 and below, representing a continuous price loss before reaching the oversold zone.
However, in the bullish scenario, the dynamic support level poses as a zone that could trigger a bounce when the coin's price nears it. Buyers may find the level an early entry point for joining the envisioned uptrend. Considering these, traders and investors should wait while WLD's price confirms its direction.
This basic risk management strategy could help you avoid the volatility of market trend indecision.
Dogwithat (WIF) - The Dog-Themed Cryptocurrency with a Difference
WIF has declined over 13% today as the consolidation phase in the crypto market continues. WIF gained 532.3% in its price in the past month and recorded a 200.1% gain in the last 14 days.
However, the slight retracement in the last 24 hours has not diminished WIF's performance significantly.
According to investor Raoul Pal, WIF has recorded a 1600% surge in the past 90 days and almost 600% in the past 30 days.
WIF = Banananananas! +1600% in 90 days, 600% in 30 days, +54% in 7 days. @blknoiz06 nailed this call. There is no mania like crypto mania... (yes, I have a small bag pic.twitter.com/b3GdaLYyrc
- Raoul Pal (@RaoulGMI) March 14, 2024
According to the investors, this is quite bullish, although he mentioned holding a minimal amount of WIF tokens in his portfolio. Secondly, crypto news outlet The Block noted that Dogwifhat's Shiba Inu mascot will be displayed on the Las Vegas Sphere for a week based on plans by fundraisers.
According to the report, the Fundraiser officially surpassed the fundraiser's target, rising to a $650,000 milestone on March 13. This confirms Dogwifhat's rising profile in the crypto community and the viral support it enjoys.
Also, according to one X user, @theunipcs, WIF will hit a new all-time high and go much higher despite the current price.
Furthermore, he stated that this is a bull market, and the real run has barely started. Although WIF has formed a red candle on the daily chart today, it remains pretty bullish, confirming that the buyers are still active.
WIF Still in Overbought Region. Will The Rally Continue?
Despite forming a red candle today, WIF is in an uptrend on the daily chart. The long upper wick suggests the buyers attempt to overcome the $3.15 resistance level and claim higher highs.
However, some buyers are making a profit after recording three consecutive green days between March 12-14.
WIF has found strong support at the $2.83 price level, likely preventing further decline in the coming days. Also, WIF is trading in the upper region of the Donchian Channel (DC), and a solid bullish sentiment confirms a possible recovery. Moreover, the RSI indicator is still in the overbought region above 70, with a value of 77.34.
Although the RSI seems to be retracing, it will likely rise again as the buyers open new long positions. Therefore, based on the positive sentiments, WIF will likely rally above the $3.15 resistance level in the coming days.
Smog Token - The Dragon Ecosystem for Exciting Rewards
Smog Token became a household name shortly after its launch, doing what seemed impossible and cementing its legacy in the crypto space. The fiery token launched on Solana is now a cross-chain wonder, extending its generosity to the Ethereum blockchain and rewarding multiple users.
SMOG has declined in the last seven days by 39.2% after a 369.9% rally in the past month. Over 2 million quests have been completed by airdrop hunters, showing massive engagement from the crypto community.
Also, there are over 98.1 thousand SMOG holders, and the market cap currently sits at $164,91 million.
SMOG could hit a 1 billion market cap value by the end of 2024 in this space.
SMOG Shows Interesting Breakout Pattern, Will It Break above $0.24?
SMOG has formed a red candle today as some buyers exit long positions. The current slump closely mirrors a historical price decline between February 17-27. However, this decline was followed by a strong rally between February 29 to March 8.
The current slump from March 9 to March 15 implies that the buyers will return and force SMOG to reclaim higher highs. Although SMOG is trading below the Parabolic SAR indicator, it has found strong support at $0.21 and will attempt to rally above the $0.24 resistance level in the coming days.
Also, the RSI indicator is in the buy zone close to 60, displaying a value of 58.00. Although the sellers force the RSI to move downwards, it will likely enter the overbought region once SMOG rallies above the $0.24 resistance level.
Therefore, based on historical price patterns, SMOG will likely overcome the $0.24 resistance level to record higher highs on the daily chart.
VerdictThe crypto market has declined by over 6% today but still retains a total market cap of $2.7 trillion. Notably, Bitcoin's drop to $68,000 likely influences the prices of altcoins in the crypto market based on its dominance.
However, this retracement may be temporary as it likely stemmed from buyers closing long positions. Investors should manage risk exposure by conducting careful research and diversifying their trading portfolios.
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