The crypto market shows signs of recovery with Ethereum climbing back above the $2,000 level, while several altcoins including Wormhole (W), DIONE, and Magnetix (MAG) post double-digit gains in the past 24 hours.
Wormhole (W) has jumped 41.7% in the last 24 hours, trading at $0.1218 from a low of $0.08551. The token’s momentum extends beyond the daily timeframe, with nearly 40% growth over the past week.
One commentator on X noted that Wormhole has established itself as one of the most active interoperability networks, processing approximately 200,000 messages and $40 million in daily volume.
The platform currently holds a total value locked (TVL) of $2.5 billion.
Despite W’s previous drop from $1.40 to its current price, the current trend suggests Wormhole could eventually reach a target of $1.90.
The recent RSI breakout on the daily chart is a positive indicator, the observer noted.
Wormhole is currently down 92.8% from its all-time high of $1.66.
Another member of X’s crypto community, gemxbt, shared W’s bullish breakout with strong positive price action. The analyst identifies key support around $0.0800 and resistance at the recent high of $0.1100.
While the RSI above 70 indicates potentially overbought conditions, the MACD suggests a continued upward price surge.
Another top gainer, DIONE, has surged 33.2% in the past 24 hours from $0.002676 to reach $0.003602.
The current rally adds to DIONE’s decent performance of 70% growth over the past week and 95% over the last 30 days.
The price action coincides with DIONE’s upcoming “Week 4 FOMO” event from March 24 to March 28. This event has generated buying interest ahead of the launch.
The third coin on the list is Magnetix, which has climbed 25.5% in the last 24 hours, trading at $0.03515 from $0.028.
MAG’s recent performance has been particularly strong, with a 150% increase over the past week.
The Solana (SOL)-based meme coin recently appeared on Binance’s top 100 new cryptocurrencies list. MAG also reached a new all-time high of $0.03575 today and has achieved a market capitalization of $35 million.
