The crypto market has seen a modest rebound over the past 24 hours, with total market capitalization climbing by 1% as investor sentiment improves.
Amid this slight recovery, some altcoins have stood out as trending picks today. They include KENDU, NOT, and HYPE.
Kendu (KENDU)
Meme coin KENDU is one of the altcoins trending today. Amid the broader market recovery of the past 24 hours, KENDU’s price has soared by 39%. It currently trades at a four-month high of $0.000031.
Over the past day, KENDU’s trading volume has increased by 126%, reflecting the bullish pressure behind the altcoin’s rally.
When an asset’s price and trading volume increase simultaneously, it indicates strong market interest and momentum behind the move.
This combination suggests that KENDU’s price surge is supported by significant buying activity, making it more likely to be sustainable in the short term.
In this case, the token’s price could climb to $0.000033.
Conversely, a decline in buying pressure could cause KENDU’s price to drop below $0.000030.
Notcoin (NOT)
Telegram-linked NOT is another altcoin trending today. At press time, NOT trades at $0.00291.
On the daily chart, the token’s plummeting Chaikin Money Flow (CMF) indicates waning demand. As of this writing, this indicator, which measures how money flows into and out of an asset, is at -0.01, resting below the neutral zero line.
A negative CMF reading like this suggests that selling pressure outweighs buying pressure. This signals that capital is flowing out of NOT.
If this trend persists, NOT’s value could plunge to $0.0027.
However, if the bulls regain market control, they could drive NOT’s price to $0.0030.
Hyperliquid (HYPE)
HYPE is up 10% today, mirroring the slight market rebound. As of this writing, the altcoin trades at a three-month high of $26.70
Its rising Balance of Power (BoP) highlights the strengthening demand for HYPE. This currently stands at 0.39, indicating strong buying power in the market.
If buying pressure grows, HYPE could extend its gains to trade at $27.13.
On the other hand, if selloffs commence, the token’s price could drop to $25.87.
The post Why These Altcoins Are Trending Today — May 16 appeared first on BeInCrypto.
