3 Trending Altcoins on March 7: RedStone, Jupiter, and Sonic

RedStone (RED)

RedStone’s RED token is one of the top trending altcoins. However, its price has dropped significantly due to the overall market decline.

• Current Price: $0.64
• 24-Hour Price Change: -33%
• Trading Volume: $195 million (+1069%)

The sharp increase in trading volume shows heightened selloffs. When an asset’s price falls while volume rises, it often signals that investors are selling off their holdings.

If the selling pressure continues, RED’s price could fall to $0.57. However, the high trading volume could also mean that some investors are buying at lower prices, which might lead to a rebound toward $0.67.

Summary of RedStone Price Predictions:

Jupiter (JUP)

Jupiter’s JUP token powers the Solana-based decentralized exchange. It has also been trending but has not escaped the market downturn.

• Current Price: $0.60
• 24-Hour Price Change: -5%
• One-Year Low: $0.56
• Elder Ray Index: -0.20

The Elder Ray Index shows how buying and selling pressures impact an asset’s price. The negative reading confirms that sellers have more control, pushing JUP’s price below its moving average.

If the bearish trend continues, JUP might revisit its one-year low of $0.56 and could fall further to $0.43. However, if demand increases, the price might recover to $0.75.

Summary of Jupiter Price Predictions:

Sonic (S)

Sonic’s S token, formerly known as FTM, has also drawn attention. However, it is currently on a downward trend.

• Current Price: $0.53
• 24-Hour Price Change: -11%
• RSI Reading: 41.70

The RSI (Relative Strength Index) shows how strong buying or selling momentum is. An RSI below 50 signals that sellers have more power. With its current RSI, Sonic could fall to $0.47.

If buying pressure increases, the price could climb to $0.62.

Summary of Sonic Price Predictions:

Today’s market shows how external factors can impact altcoins. RedStone, Jupiter, and Sonic are trending due to heightened activity and price swings. Whether they continue to decline or rebound will depend on investor sentiment and broader market conditions.