SUI, FARTCOIN, and HYPE: A Look at Today's Trending Altcoins

The crypto market remains relatively quiet on Thursday, with minimal activity, as many traders remain on the sidelines. Despite the overall lack of momentum

Cryptocurrency prices remained largely stable on Thursday, with minimal activity as traders awaited fresh cues.

Despite the overall lack of momentum, a few altcoins managed to stand out, attracting investors’ attention.

Here are three trending altcoins to watch:

Sui (SUI)

Layer-1 coin SUI was among today’s trending altcoins. It caught investors’ attention following a recent development within its network. On February 3, the Sui Foundation announced that the Sui Bridge now supports wrapped Bitcoin (wBTC), enabling users to seamlessly transfer wBTC from Ethereum to Sui.

However, SUI’s price performance remained lackluster amid the broader market downturn. At press time, the coin was valued at $3.44, registering a 5% price decline in the past 24 hours.

An analysis of SUI’s price movements on a daily chart revealed that it had been trading below its 20-day Exponential Moving Average (EMA) since January 22.

An asset’s 20-day EMA measures its average trading price over the past 20 days. It gives more weight to recent price data, making it more responsive to price changes than the simple moving average. When an asset’s price falls below this key moving average, it serves as a bearish signal, indicating that the asset is experiencing downward pressure in the short term.

If SUI’s decline continues, its price could plummet to $3. If the bulls fail to defend this critical support, the coin’s price could fall further to $2.10.

On the other hand, if SUI’s buying pressure strengthens, it could drive its price toward its all-time high of $5.35.

Fartcoin (FARTCOIN)

Solana-based meme coin FARTCOIN was another altcoin trending today. It noted a 27% price decline over the past 24 hours and now traded at $0.50.

At press time, the meme asset was lying below its Super Trend indicator, highlighting the surge in selloffs among market participants.

This indicator helps traders identify the market’s direction by placing a line above or below the price chart based on the asset’s volatility. As with FARTCOIN, when an asset’s price trades under the Super Trend line, it signals bearish momentum, indicating that the market is in a downward trend and selling pressure is dominant.

As selling pressure gains momentum, FARTCOIN will extend its decline and fall to $0.16, its next major support level.

Conversely, its price could rally to $1.05 if the bulls regain market control and drive demand.

Hyperliquid (HYPE)

Layer-1 coin HYPE was on investors’ radar today because its network Hyperliquid continued outperforming Ethereum in revenue. According to data from DefiLlama, Hyperliquid’s 24-hour revenue stood at $1.46 million, while Ethereum’s was at $542,231.

This signaled a spike in user activity on the Hyperliquid blockchain. However, the performance of its native coin, HYPE, remained seemingly muted due to broader market troubles. At press time, the altcoin traded at $25.82, registering a 1% price fall in the past 24 hours.

If the market headwinds persist, HYPE’s price could drop to $25.08.

On the other hand, a rebound could propel its price toward $27.11.