B3 (Base), Solayer (LAYER), and Berachain (BERA) Note Rallies Amid Crypto Market Downturn

Trading activity across the crypto market has once again slowed over the past 24 hours. This has contributed to a significant decline in the total market capitalization, which has dropped by over $50 billion.

Cryptocurrency market trading activity has slowed once again over the past 24 hours, with some altcoins rallying and others facing selling pressure.

Here's a closer look at three altcoins that have grabbed traders' attention:

B3 (Base) Token Surges 162% Amid Buying Pressure

The recently launched B3 token has been one of the most talked-about altcoins today, following a 162% rally in its price over the past 24 hours. This surge in buying activity has drawn attention to the B3 Directional Movement Index (DMI) setup on a four-hour chart.

The setup shows that buying pressure exceeds selling activity among B3 traders. At press time, the positive directional index (+DI) (blue) rests above the negative directional index (-DI) (orange).

The DMI measures the strength of a trend by comparing the price movements in an upward direction (+DI) and downward direction (-DI). When an asset's +DI is above its -DI, it suggests that the prevailing market trend is bullish, with upward price movement gaining strength.

If B3's uptrend strengthens, its price could break above the resistance at $0.016 and attempt to revisit its all-time high of $0.019.

However, its price could slip to $0.011 if bearish trends gain momentum.

Solayer (LAYER) Token Drops After Genesis Airdrop

Solayer, a re-staking protocol built within Solana, has seen its native token, LAYER, become a trending altcoin today following the conclusion of its genesis airdrop on Tuesday.

The genesis drop granted immediate access to tokens for the initial claimants, who can then claim additional tokens over the next six months through a mechanism known as "Epochs."

However, with some token recipients selling their holdings, LAYER is facing slight downward pressure, with its value declining by 4.21% over the past 24 hours. At press time, the altcoin trades at $1.12.

If token selloffs continue, LAYER will extend this price drop and trade below $1 at $0.92.

On the other hand, if selling activity is reduced and buying pressure spikes, this bearish projection will be invalidated. In that case, LAYER's price could break above $1.13 to trade at $1.21.

Berachain (BERA) Token Down 8.4% Despite Launch Hype

Since its launch, Berachain's BERA token has struggled to gain momentum in the challenging market conditions, despite its promising use case. Currently trading at $5.49, it has seen an 8.4% decline in price over the past 24 hours.

At press time, BERA's Relative Strength Index (RSI), assessed on a four-hour chart, is below the 50-neutral line at 39.48. This momentum indicator measures an asset's oversold and overbought market conditions.

At 39.48, BERA's RSI indicates that the altcoin is in a neutral to slightly oversold condition, suggesting potential for downward momentum or an eventual price reversal if the trend weakens further.

If the downtrend continues, BERA could trade at $3.93.

However, if it witnesses a bullish reversal, its price could rally to $8.11.