Top 3 trending altcoins in Nigeria in the third week of September

Cryptocurrency markets have seen increased activity this week, in part due to the US Federal Reserve cutting interest rates. The move has fueled a broader rally, pushing the global cryptocurrency market Capital up 3% over the past seven days.

Amid this recovery, several digital assets have attracted particular attention from Nigerian traders. Today, BNB, Avantis (AVNT), and APX are the top three trending altcoins in the region.

Binance Coin (BNB)

BNB ’s recent rally to an All-Time-High above $1,000 has put it on the radar of Nigerian traders. Although its price has retreated slightly, currently hovering near its peak at $998, market signals suggest that bullish sentiment remains strong.

This is reflected in the coin’s Balance of Power (BOP) index, which is currently at 0.65, indicating buyer dominance in the spot market.

The BoP index measures the strength of buying pressure relative to selling pressure over a given period of time. Positive readings indicate that buyers are in control, while negative values ​​indicate stronger selling activity.

BNB 's rising BOP shows that, despite a slight correction from the record high, buyers still have the upper hand. If optimism increases, BNB could revisit the All-Time-High at $1,001 and attempt to surpass it.

Conversely, if profit-taking intensifies, BNB could drop to $877.01.

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Avantis (AVNT)

AVNT, the native Token of Avantis, a Real World Assets (RWA) perpetual DEX, is another altcoin trending in Nigeria today. Currently trading at $1.03, the Token has surged more than 240% in the past seven days.

However, this rally has led to a gradual emergence of sellers, which could threaten the current bullish momentum.

The Token 's negative Elder-Ray index reflects this. At the time of writing, it stands at -0.057, indicating increasing control by the bears.

The Elder-Ray indicator measures the balance between buying and selling pressure by analyzing the difference between an asset’s exponential moving Medium (EMA) and the strength of the buyers or sellers in the market. A positive reading shows that buyers are in control, suggesting bullish momentum. Conversely, when its value is negative, as with AVNT, it indicates persistent selling pressure.

If this bearish momentum strengthens, it could drag the Token price below $1.

Conversely, if demand picks up again, it could change sentiment and fuel a rally towards $1.26.

APX

APX, a cryptocurrency based on the BNB-Chain, is also trending in Nigeria today. Its price performance mirrors the overall market growth over the past day, recording an impressive 34% increase. However, its daily volume has dropped by almost 50%, a discrepancy that suggests the bullish momentum may be losing steam.

Typically, when an asset's price rises while volume declines, it signals a weakening of the confidence behind the move. This discrepancy suggests that fewer buyers are driving the price action, increasing the risk of a short-term correction.

If the momentum weakens, APX could slide below $0.64.

Conversely, if new demand appears in the market, the price of APX could return to All-Time-High of $0.80.