Why These Altcoins Are Trending Today — January 17

The crypto market’s bullish sentiment is fueling significant rallies among altcoins, with many achieving new highs and capturing investors’ interest. However, a select few tokens stand out for unique reasons beyond just price gains.

BeInCrypto has identified and analyzed three altcoins that have been trending and garnered attention in the past 24 hours.

Litecoin (LTC)

Litecoin, often referred to as the silver to Bitcoin’s gold, stood out among trending altcoins today due to a major milestone. The Nasdaq officially filed with the SEC to list Canary Capital’s spot Litecoin ETF, a development that drew significant attention to the legacy cryptocurrency.

Following this news, Litecoin’s price surged by 19%, reaching $139 at the time of writing. This rally allowed LTC to breach the critical $136 barrier. The next target for Litecoin is flipping $147 into a support level, potentially paving the way for a rise to $150 and beyond.

However, profit-taking by investors could trigger a decline. If Litecoin loses its newfound momentum, the altcoin might fall back below $136 and test the support level of $117. Such a drop would invalidate the bullish outlook and erase recent gains.

Fartcoin (FARTCOIN)

FARTCOIN gained attention today for its significant rally. The meme coin’s intra-day high brought it close to its all-time high of $1.61, although it fell short of breaching or testing this level. This surge highlights its potential for further gains if momentum holds steady.

With a 21% rise during the day, FARTCOIN has since retraced to $1.40. However, the altcoin still has the potential to surpass its previous peak. If the bullish momentum persists, FARTCOIN could breach its ATH and aim for a new high at $1.80, capturing investor interest.

On the downside, a reversal in market sentiment could lead to a decline. Should FARTCOIN lose support, it risks dropping to $0.98. Such a fall would invalidate the bullish outlook and result in notable losses for its holders.

ai16z (AI16Z)

AI16Z has been drawing investor attention, not for bullish developments but for its recent bearish performance. While the broader crypto market rallied, AI16Z’s price experienced a sharp correction, losing momentum in contrast to market trends.

The altcoin faced rejection at the $1.58 resistance level, leading to an 18.49% decline over the past 24 hours. If this downward trajectory continues, AI16Z risks falling below its crucial support level of $1.19, which could potentially trigger a deeper crash toward $0.08, raising concerns among investors.

However, a rebound from the $1.19 support could signal recovery for AI16Z. In such a scenario, the altcoin may regain upward momentum, targeting $1.58. Successfully breaching this resistance would invalidate the bearish outlook and restore investor confidence.