Trending Altcoins to Watch on April 3: OM, QUBIC, and TON

The cryptocurrency market has experienced a notable downturn over the past 24 hours, shedding $64 billion in market capitalization and settling at $2.64 trillion at press time. Despite this pullback, certain altcoins continue to capture investor attention, with MANTRA (OM), Qubic (QUBIC), and Toncoin (TON) emerging as today's most discussed assets.

MANTRA (OM): Strong Buying Pressure Despite Market Dip

MANTRA (OM) remains a trending asset, despite a 1% decline over the past day, currently trading at $6.32. While this downward movement aligns with broader market trends, OM’s daily chart indicates a continued bullish sentiment.

A key technical indicator, the Balance of Power (BoP), stands at 0.17, suggesting that buying pressure remains dominant. The BoP assesses the strength of buying versus selling by analyzing price movements within a given period. A positive reading like this implies that bulls maintain control, potentially driving OM’s price higher.

Should this momentum persist, OM could rebound toward the $9.17 mark. However, if selling pressure increases, a further drop toward $5.16 remains possible.

Qubic (QUBIC): Increased Trading Volume Signals Bearish Pressure

Qubic (QUBIC), a Layer-1 (L1) cryptocurrency, is also in the spotlight. Currently priced at $0.00000092, QUBIC has dropped by 8% over the past day. Despite this, its trading volume has surged by 15% to reach $2.29 million, suggesting increased market activity.

Typically, when an asset’s price declines alongside rising trading volume, it indicates strong selling pressure. This suggests that investors are actively offloading QUBIC, reinforcing a bearish trend.

If this sell-off continues, QUBIC could slip further to $0.000000699. However, a potential rebound could see it climbing toward $0.00000106 in the near term.

Toncoin (TON): Bearish Momentum with Potential for Reversal

Toncoin (TON), the cryptocurrency linked to Telegram, has also drawn attention today, trading at $3.57 after an 11% price dip.

TON’s daily chart reveals that the Parabolic Stop and Reverse (SAR) indicator, which helps identify trend reversals, currently places resistance at $4.21. When the SAR dots appear above the price, it signals a bearish trend, indicating that downward momentum is strong.

If TON fails to break this resistance, its price could continue its descent to $2.82. Conversely, renewed buying interest could propel it past $3.63 and toward the $5.22 mark.