TOP 3 altcoins with prominent trends today – May 23

Today, the crypto market experienced a slight setback, with the total market capitalization evaporating by 8 billion USD in just 24 hours. Although the overall picture is somewhat bleak, some altcoins still stand out and strongly attract interest from both investors and savvy traders.

Hyperliquid (HYPE)

HYPE is becoming the center of attention in the altcoin market today as it unexpectedly breaks away from the general correction trend, increasing sharply by 20%. Notably, the trading volume also surged by 32%, reaching 499 million USD – indicating that capital is flowing in strongly.

Daily HYPE/USDT Chart | Source: TradingViewThe simultaneous increase in price and volume is a positive technical signal, reflecting growing interest from investors and reinforcing the current uptrend. This indicates that the rise of HYPE is not just a short-term rebound, but is supported by real buying pressure.

If the upward trend is maintained, HYPE could completely aim for the mark of $37.59. However, in a more negative scenario where profit-taking pressure increases, the price could adjust back to the support area around $35.73.

Cetus Protocol (CETUS)

At the time of writing, CETUS is trading around $0.172, recording a sharp decline of up to 29% in the past 24 hours. On the daily chart, the MACD (Moving Average Convergence Divergence) indicator shows that the bearish trend is increasingly dominating the spot market.

! CETUS/USDT Daily Chart | Source: TradingViewSpecifically, the MACD line (màu xanh) crossed below the (màu cam) signal line — a technical signal that usually signals a weakening of bullish momentum. This clearly reflects the selling force that is overwhelming the buying force, putting strong pressure on the price of CETUS and pushing it into a deeper decline zone.

If the sell-off momentum continues without signs of cooling down, the price of CETUS could slide towards the next support area around $0.158. Conversely, if the market witnesses a return of buying pressure, especially from bottom-fishing investors, this altcoin could fully recover and surpass the threshold of $0.173.

Sui (SUI)

SUI is one of the altcoins attracting a lot of attention in the crypto market today. As of the time of writing, SUI is trading around $3.84, marking a 7% decrease in the last 24 hours.

Daily SUI/USDT chart | Source: TradingViewHowever, technical signals are revealing a more optimistic picture. Specifically, the Chaikin Money Flow (CMF) of SUI continues to rise and remains above the positive threshold, currently at 0.19. This indicates that money is quietly flowing in, despite selling pressure – a sign of bullish divergence and the potential for a short-term reversal.

CMF is a tool for measuring the buying and selling pressure through the inflow/outflow of assets. When this indicator rises while the price continues to decline, it often signals that investors are quietly accumulating, indicating a potential recovery in the near future.

If the demand continues to strengthen, SUI could completely reverse the trend and head towards the $3.96 range. On the contrary, if the bears maintain control, this token risks retreating to the support level of $3.69.

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