February is closing on a bearish note. This week, amid rising volatility, the global crypto market capital has plunged to its lowest level year-to-date.

As traders prepare for what March might bring, some altcoins are beginning to stand out, drawing investor interest. 

Layer-1 (L1) coin SUI is one of today’s most searched assets. Impacted by the broader market’s decline, its value has dipped 10% over the past 24 hours. It now trades at $2.63, a low last reached in November 2024.

The decline in SUI’s trading volume during the review period confirms the high selling pressure in its spot markets. This has totaled $1.12 billion, falling by 15% in the past day.

When an asset’s price and trading volume fall simultaneously, it confirms the weakening market interest and reduced buying pressure. This trend suggests a lack of demand for SUI, making it more vulnerable to further declines as liquidity dries up.

If the price dip continues, SUI could trade at $2.10. Should this level fail to hold, the coin’s price could slip below $2 to sell at $1.57.

On the other hand, if buying activity resumes, it could drive SUI’s value above $3. 

XRP is a trending altcoin today as investors speculate on the future of the Ripple lawsuit following a closed-door meeting with the US Securities and Exchange Commission (SEC) on February 27. 

With the regulator recently dismissing cases against major crypto firms like Coinbase, Uniswap, and Robinhood, anticipation is building over whether Ripple could be next in line for regulatory relief.

At press time, XRP trades at $2.05. Mirroring the general market’s decline, XRP’s price has dipped by 9% in the past 24 hours. On the daily chart, it trades below the resistance at $2.13.

If speculation about SEC potentially dismissing its case against Ripple drives increased demand for XRP, its price could surge toward $2.81.

However, if the bearish momentum persists, XRP could extend its decline to $1.47.

Chainlink’s LINK is among today’s trending altcoins. It is down 11% in the past 24 hours and trades at $13.89 as of this writing.

On the daily chart, the Aroon Down Line confirms the strength of LINK’s price decline. At press time, it is at 100%. 

The Aroon Indicator measures the strength and direction of a trend by tracking how long it has been since the highest high or lowest low occurred. When the Aroon Down line is 100% like this, it signals that the asset recently hit a new low and that a strong downtrend is in place, indicating sustained bearish momentum.

This is true of LINK, which trades at a four-month low and is eyeing further declines as buying pressure worsens. If the price drop continues, LINK could fall toward $10.

Converesly, an uptick in LINK’s demand could invalidate this bearish outlook. In that case, the token’s price could climb to $15.81.

The post Why These Altcoins Are Trending Today — February 28 appeared first on BeInCrypto.

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