TRUMP, VVV, and SOL Defy Broader Downtrend to Attract Traders' Attention

The cryptocurrency market has resumed its downtrend today, with the market cap losing $125 billion over the last 24 hours.

The cryptocurrency market experienced a downturn on Monday, with the market cap decreasing by $125 billion in the past 24 hours.

Despite the broader downtrend, a few altcoins attracted traders' attention with their price movements.

Here are three trending altcoins on Monday:

1. Official Trump (TRUMP)

Solana-based meme coin TRUMP was one of the most searched altcoins on Monday.

The Donald-Trump-linked token experienced a double-digit surge in value over the past 24 hours, making it the market’s top gainer.

However, readings from its 12-hour chart suggested that bearish control over the meme coin remained significant.

For instance, its Elder-Ray Index was at -7.09 at press time. This indicator measures the relationship between an asset’s buying and selling pressure in a market.

When the index is negative, it suggests that sellers are in control, and the asset’s price is likely to face downward pressure.

Should this play out, TRUMP could shed its recent gains and fall toward $16.

On the flip side, if the bulls regain market control, they could propel the meme coin’s value to $28.23.

2. Venice Token (VVV)

Another trending altcoin on Monday was VVV. Its price jumped 44% in the past 24 hours despite allegations of misconduct against its developer team.

In a series of posts on X, analyst Ormu claimed the team illegally issued themselves $5.7 million worth of VVV tokens after the Coinbase listing, raising transparency concerns.

According to Ormu’s analysis, the team allegedly sold $450,000 worth of these tokens via a fresh wallet linked to their multi-signature wallets.

However, these claims remained unverified as VVV noted a double-digit spike today. If the rally continues, the altcoin’s price could touch $6.75.

Conversely, a price correction could cause VVV to drop below $5 to exchange hands at $3.65.

3. Solana (SOL)

Layer-1 (L1) coin SOL was also a trending altcoin on Monday. At press time, it was trading at $205.13, recording less than a 1% price fall.

Over the past week, the coin’s value had plunged 12% due to a broader market decline and low activity on the Solana network.

On the SOL/USD one-day chart, readings from the coin’s Directional Movement Index (DMI) reflected the bearish outlook.

At press time, the Positive Directional Index (+DI, blue) was below the Negative Directional Index (-DI, orange), confirming the strength of SOL bears.

This indicator measures trend strength and direction using two key lines: the Positive Directional Index and the Negative Directional Index. When the +DI is below the -DI, bearish momentum is stronger than bullish momentum, suggesting a prevailing downtrend.

If the downtrend continues, SOL’s price could fall below the critical $200 level to $187.71.

However, if market sentiment shifts from negative to positive and SOL accumulation resumes, its price could climb to $229.03.