Top Trending Altcoins Today: Highlighting RARE, S, and ONDO – March 10

The cryptocurrency landscape is experiencing a downward trend today, with various assets facing bearish pressure. However, amidst this broader market dip, certain altcoins are standing out and garnering trader interest.

SuperRare (RARE)

Currently making headlines is RARE, the governance token for the SuperRare on-chain art marketplace. Trading at $0.096, RARE has impressive surges of 88% over the past 24 hours. This rapid rise has been bolstered by trading volumes that reached $521.75 million, skyrocketing by nearly 2000%.

The robust trading activity accompanying RARE's significant price increase suggests strong market engagement, indicating high conviction in this altcoin's movement. If RARE maintains its momentum, it may break through the resistance level at $0.109 and target $0.142. Conversely, a drop in buying interest could see RARE's price retracting to $0.074.

Sonic (S) (Prev. FTM)

Another name drawing the attention of traders is Sonic, previously known as FTM. Currently priced at $0.45, S is experiencing a slight decline of 1.3% today, reflecting the overall market trend. Over the past week, its value has dropped by 34%.

The daily chart reveals a negative Chaikin Money Flow (CMF) at –0.11, indicating diminished demand for the token. A CMF below zero signals increased selling pressure, suggesting further potential declines for S if buyers don't reclaim strength. In the worst case, S could test its year-to-date low of $0.33. On a brighter note, if bullish momentum returns, S could see a rally back up to $0.59.

Ondo (ONDO)

Lastly, ONDO continues its downward trend with a 5% decline in the last 24 hours, now trading at $0.87. Analyzing the daily chart, ONDO's Relative Strength Index (RSI) is currently at 37.56, which indicates weak momentum but not yet at the oversold level.

With the RSI under 30 indicating oversold conditions, ONDO still has potential room for further decline. If this pattern persists, ONDO may drop towards $0.70. However, if buying interest surges, ONDO's price could regain traction and push towards the $1 mark.