The cryptocurrency market enters the first week of June with positive signals as investor interest begins to pick up slightly, indicating an effort to recover after a series of plummeting sessions.
In this context, some altcoins have shown impressive gains, notably FLOCK (FLOCK), Layer3 (L3), and Cookies DAO (COOKIE), attracting attention due to their strong price increases.
FLOCK (FLOCK)
Flock.io is the first decentralized artificial intelligence training platform that combines Federated Learning technology with blockchain, providing a safe and secure AI model development solution without the need to centralize data. This is considered a significant step in ensuring user data privacy and integrity.
Currently, the native token FLOCK is making waves of attention as it rises to the top of the ranking of bulls on CoinGecko, recording an impressive increase of up to 80% on the day. At the time of writing, the altcoin is trading around $0.26 – a six-month high, clearly reflecting the strong return of investment in decentralized AI infrastructure.
On the technical chart, FLOCK is trading far from the 20-day exponential moving average (EMA), currently at $0.12, serving as an important dynamic support zone. The 20 EMA indicator is commonly used to measure short-term trends, with a weighting that prioritizes recent price movements.
The price rising far above the 20-day EMA indicates that the upward momentum is very strong, as buying pressure continues to dominate and push the price beyond the recent trend. If this momentum continues, FLOCK could completely maintain its upward trajectory and aim for the next target at the $0.57 region.
However, investors also need to be cautious. In the scenario of a sudden increase in profit-taking pressure, this token may lose momentum and undergo a deep correction, with the nearest potential support zone being $0.03.
Layer3 (L3)
Layer3 is a comprehensive Web3 marketing platform that flexibly integrates on-chain and off-chain activities to help users explore the Web3 ecosystem while providing quality traffic to blockchain projects. This platform operates using the L3 token – a digital currency that has recorded an impressive growth of 38% in just the last 24 hours.
Alongside the price increase, the trading volume of L3 also exploded, soaring to 157% and reaching 14.06 million USD. The consensus between price and trading volume not only indicates strong demand but also reflects the growing interest from the investor community.
This positive development indicates that the upward momentum of L3 is driven by real demand in the market, rather than unusual fluctuations due to a lack of liquidity. If this trend continues, L3 has the potential to break through the resistance level of $0.06 and aim for a new target at $0.08.
However, in the event of strong profit-taking selling pressure, the price of this altcoin may adjust to the support zone around the $0.04 mark.
Cookies DAO (COOKIE)
COOKIE is a utility token belonging to the Cookies DAO project, developed to provide access and governance participation in the data ecosystem for AI agents.
In the past 24 hours, the price of COOKIE has surged by 15%, currently trading around $0.25. Notably, the Elder-Ray indicator has first shifted into the positive zone after three consecutive days, indicating that buying pressure is returning and investor confidence in this altcoin is showing signs of recovery. As of now, the Elder-Ray index stands at 0.03.
The Elder-Ray indicator measures the relative strength between buyers and sellers through the difference between the asset price and the (EMA) exponential moving average. When this index is in the positive zone, it means that the price is above the EMA and buying pressure is dominant.
Current developments show that the bulls are gradually gaining control of the COOKIE market, opening up the possibility of pushing prices higher in the short term. If the recovery momentum continues to be maintained, the next resistance level may be around $0.31.
However, in the opposite scenario — if buying pressure weakens — COOKIE could very well adjust to the support area around the $0.21 mark.
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TOP 3 altcoins with prominent trends today – June 2
The cryptocurrency market enters the first week of June with positive signals as investor interest begins to pick up slightly, indicating an effort to recover after a series of plummeting sessions.
In this context, some altcoins have shown impressive gains, notably FLOCK (FLOCK), Layer3 (L3), and Cookies DAO (COOKIE), attracting attention due to their strong price increases.
FLOCK (FLOCK)
Flock.io is the first decentralized artificial intelligence training platform that combines Federated Learning technology with blockchain, providing a safe and secure AI model development solution without the need to centralize data. This is considered a significant step in ensuring user data privacy and integrity.
Currently, the native token FLOCK is making waves of attention as it rises to the top of the ranking of bulls on CoinGecko, recording an impressive increase of up to 80% on the day. At the time of writing, the altcoin is trading around $0.26 – a six-month high, clearly reflecting the strong return of investment in decentralized AI infrastructure.
On the technical chart, FLOCK is trading far from the 20-day exponential moving average (EMA), currently at $0.12, serving as an important dynamic support zone. The 20 EMA indicator is commonly used to measure short-term trends, with a weighting that prioritizes recent price movements.
The price rising far above the 20-day EMA indicates that the upward momentum is very strong, as buying pressure continues to dominate and push the price beyond the recent trend. If this momentum continues, FLOCK could completely maintain its upward trajectory and aim for the next target at the $0.57 region.
However, investors also need to be cautious. In the scenario of a sudden increase in profit-taking pressure, this token may lose momentum and undergo a deep correction, with the nearest potential support zone being $0.03.
Layer3 (L3)
Layer3 is a comprehensive Web3 marketing platform that flexibly integrates on-chain and off-chain activities to help users explore the Web3 ecosystem while providing quality traffic to blockchain projects. This platform operates using the L3 token – a digital currency that has recorded an impressive growth of 38% in just the last 24 hours.
Alongside the price increase, the trading volume of L3 also exploded, soaring to 157% and reaching 14.06 million USD. The consensus between price and trading volume not only indicates strong demand but also reflects the growing interest from the investor community.
This positive development indicates that the upward momentum of L3 is driven by real demand in the market, rather than unusual fluctuations due to a lack of liquidity. If this trend continues, L3 has the potential to break through the resistance level of $0.06 and aim for a new target at $0.08.
However, in the event of strong profit-taking selling pressure, the price of this altcoin may adjust to the support zone around the $0.04 mark.
Cookies DAO (COOKIE)
COOKIE is a utility token belonging to the Cookies DAO project, developed to provide access and governance participation in the data ecosystem for AI agents.
In the past 24 hours, the price of COOKIE has surged by 15%, currently trading around $0.25. Notably, the Elder-Ray indicator has first shifted into the positive zone after three consecutive days, indicating that buying pressure is returning and investor confidence in this altcoin is showing signs of recovery. As of now, the Elder-Ray index stands at 0.03.
The Elder-Ray indicator measures the relative strength between buyers and sellers through the difference between the asset price and the (EMA) exponential moving average. When this index is in the positive zone, it means that the price is above the EMA and buying pressure is dominant.
Current developments show that the bulls are gradually gaining control of the COOKIE market, opening up the possibility of pushing prices higher in the short term. If the recovery momentum continues to be maintained, the next resistance level may be around $0.31.
However, in the opposite scenario — if buying pressure weakens — COOKIE could very well adjust to the support area around the $0.21 mark.