Trading activity has risen across the digital asset market this week, with global Crypto’s market capitalization rising by 3% over the past seven days.
The momentum has spread to local markets, where several tokens are attracting attention among Nigerian traders. On-chain data for the last 24 hours shows that the portal depicts the most visibility from the region as three cryptocurrencies to Bitcoin (PTB), Crepes and Pepe.
Portal to Bitcoin (PTB)
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The portal to Bitcoin launched the mainnet on September 3rd, and the value of its native token PTB subsequently rocketed. With a $0.0534 trade at press time, Altcoin has grown nearly 25% over the past seven days alone.
The PTB recorded 27% intraday profits amid today’s wider market gatherings. However, Altcoin appears poised for pullbacks as it shows an increase in profits as its daily trading volume is plummeting. Currently, this is a total of $122 million, down 32% over the past 24 hours.
As assets prices rise while trading volumes decrease, the upward movement indicates a loss of momentum. As volumes become thinner, price increases suggest that fewer buyers are willing to intervene at a higher level, making Larry vulnerable to pullbacks.
For PTBs, this difference between price and volume means that recent 27% intraday profits could be driven by short-term speculation rather than sustained demand. If profit acquisition continues to be dominated, the token may continue to hold on to that profit and struggle to face potential pullbacks in the short term.
In this scenario, its price could be below $0.0476.
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Meanwhile, if the Bulls maintain control and demand is strengthened, the PTB could exceed $0.0550.
crepe
BNB-Chain-based crepes are another Altcoin trend in Nigeria today. The token is trading at $0.00001011, recording a modest 3% profit in the last 24 hours.
Measurements from the Elderly Index indicate strong buy-side sentiment. The Elderley Index measures the balance between bull and bear pressure by analyzing the differences between the exponential moving average (EMA) of assets and the strength of bulls or bears in the market.
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Positive readings such as Crepe’s current 0.000002205 indicate that buyers are in control, suggesting short-term upward momentum. This means that traders will actively support it and increase the price.
If the purchasing activity still rises, the crepe can attempt a break above $0.00001167 above the resistance level.
However, if you intensify as profits, the token risks losing its current profits and could revisit $0.000005500.
Pepe
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Frog themed Solana-based meme coin pepe is another altcoin trend in Nigeria today. It currently trades at $0.00001060 and exceeds the 20-day index moving average (EMA) on the daily chart.
The 20-day EMA tracks the average closing price of assets over the last 20 trading sessions, giving more weight to recent prices. When assets trade beyond this indicator, bullish momentum remains unharmed, indicating that market trends support buyers.
If the purchase pressure is high, Pepe could break resistance at $0.00001070 and soar towards the next key level of potentially $0.00001269.
Meanwhile, if demand weakens and profits increase, the token price could drop to $0.0000830.
