The cryptocurrency market has been going through a mature phase in recent years, but the extreme volatility that characterized its early years hasn’t disappeared yet. Humanity Protocol (H) witnessed a 20% crash yesterday while Synapse (SYN) and Unibase (UB) witnessed surprising gains, and traders are expecting such coins to exhibit similar volatility today.
Those who invested in such crypto gainers a day earlier could have generated huge profits, and those who invested in the top losers, the opposite. The high volatility creates both risks and opportunities, and many investors believe that there are ways to predict and spot potential opportunities before they gain widespread attention.
Is it possible to predict the top crypto gainers for short-term trading? Let’s get into the details.
How to Predict Top Crypto Gainers Using Market Data, Trends, and Indicators?
While one cannot predict the exact price movements, certain tools and tactics help understand a coin’s future movements to an extent. To predict the top gainers of the next 24 hours, one should keenly observe and analyse the things that really influence an asset’s short-term price. In addition, the trader should develop a discipline to maintain timeliness.
What Influences a Cryptocurrency’s Price Movements?
Obviously, the fundamentals, including the utility and the development team, are the primary factors that drive the growth of a crypto project. However, multiple additional factors influence an asset’s gains and losses. Understanding these will help you to predict the top gainers.
Chart Movements
Chart movement is a crucial factor in determining a crypto’s future price because it provides data such as support and resistance, trends, and volume, which help traders identify ongoing patterns. Some key patterns include:
- Ascending triangles that often signal a bullish breakout.
- Cup and handle patterns that indicate the continuation of an uptrend.
- Higher highs and higher lows indicate strong upward momentum.
Upcoming Events
Major events surrounding a cryptocurrency can often help boost its price by attracting new investors. Some recurring events include:
- Mainnet launch.
- Listing on top-tier centralized exchanges.
- Network upgrades and token burns.
- Partnerships with renowned entities.
- Airdrops, giveaways, and other campaigns.
Macroeconomic Factors
As a market that does not operate in isolation, the crypto market is always influenced by the broader economic and sociopolitical conditions. Major external events that influence a crypto’s price include:
- Inflation data release.
- Global wars and climate crisis.
- Interest rate decisions.
- Regulatory framework modifications.
- Economic growth forecasts.
Community Sentiment
Many cryptocurrencies, especially the memecoins, are primarily driven by active community members rather than regular users. A project with a strong community often has:
- Huge social media followers and higher engagement.
- Great network participation that boosts the trading activity.
- Forums, discussions, and better awareness of the project.
How to Predict Top Crypto Gainers?
As said in the above section, projects with better real-world utilities and strong community support can expand their ecosystem in the long run, but it is not enough to predict the short-term uptrends. Here are some practical ways that could help traders predict the sudden movement of the coin to an extent:
- Look for rising trading volume, stable price action, and gradual accumulation.
- Look at the Relative Strength Index (RSI). A strong RSI amidst the bear phase can indicate a bull run.
- Monitor whale activity by measuring huge purchases from a single entity.
- Use additional technical indicators.
Can Today’s Top Gainers Sustain the Bullish Momentum? Insights From Synapse & Siren
There are so many top crypto gainers in the market in the past 24 hours, but we’ve chosen Synapse (SYN) and Siren (SIREN) because they have unique stories to tell.
The Curious Case of Synapse (SYN)
Synapse (SYN) was more than 90% up in the past 24 hours and has crossed 500% this week. An interesting fact is that there was no narrative-driven catalyst that helped it surge. No ecosystem developments, no partnerships, and no tweets from KOLs. Then what made it viral?
The coin performed massively due to pure speculative momentum. As an interoperability system that emphasizes safety and security, many users shifted to Synapse following the recent exploits, such as a $1.7 million hack on Taiko and a $4.67 million exploit on the Secret Network bridge.
Synapse still maintains the positive momentum, and the trend hasn’t faded yet. However, the massive spot purchases pushed it into overbought territory. The higher greed and the profit-taking frenzy will likely create a downtrend soon.
The Curious Case of SIREN
Siren, the famous Binance Alpha token, was nearly 70% up yesterday. The token had been going through a downward spiral, and it got a sudden pushback when it reached its key support level. In addition, the speculation-driven purchases and the positive retail sentiment helped it surge.
Contrary to Synapse, SIREN is slowly reviving from its oversold condition, meaning we can expect the uptrend to continue in the coming days. At present, SIREN is trading at a price of $0.04655.
The Bottom Line
There is no perfect and clear formula to predict the movements of a coin; however, we can combine various data to make informed decisions. As a highly volatile market, it is important to navigate with a disciplined approach. Always invest the funds you can afford to lose, and focus on a data-driven approach while making trading decisions.
Also Read: America250 Crypto Coin Review: Benefits, Risks, and Future Potential