Market sentiment has been overwhelmingly bearish this past week. So, it was bad for many cryptocurrencies. However, a late rally in the market reversed fortunes. Thus, the top three highest-gaining altcoins of the week rose with double-digit gains. crypto analyst Victor Olanrewaju, He puts HYPE Coin and two tokens on the table.
Hyperliquid (HYPE Coin): It flew with stock market listings, more is possible!
Since the beginning of December, Hyperliquid has been on the list for the first two weeks. This week, it maintained its place as one of the altcoin winners of the week. HYPE Coin This time is no different as it is up 55%. The increase in price is linked to the lower selling pressure around the altcoin. Besides this, the token received exchange listings on KuCoin and Gate.io. This exchange listing means a larger portion of the market will now have access to the token. Therefore, this means increasing transaction volume.
On the 4-hour chart, Bullish Bearish Force (BBP) is in the positive zone. This suggests that the bulls are in control and the altcoin price may trade higher. Additionally, the Relative Strength Index (RSI) continued to rise. this too HYPE Coin It shows that the momentum around it is on the rise. If this situation remains the same, it is possible for HYPE to rise to $42.24 in the short term. However, if the altcoin becomes overbought, it is possible that the token could drop as low as $26.16.
Move (MOVE): Bullish sentiment is high!
MOVE is also among this week’s altcoin winners. During the week, MOVE’s price rose 51.60%. Approximately 25% of this occurred in the last 24 hours. The increase in price is linked to bullish sentiment around the token and increased buying pressure. As of this writing, MOVE’s price has reached $1. The 4-hour chart shows that the Awesome Oscillator (AO) reading continues to climb.
When comparing historical price movements with recent price movements, the rise in AO value indicates a bullish sentiment around the token. If this situation continues, it is possible for MOVE to rise to $1.44. However, the altcoin will have to break the resistance at $1.06 to achieve this. Failure to clear this hurdle will invalidate the prediction and the price will likely drop to $0.76.
Bitget Token (BGB)
BGB, the native token of crypto exchange Bitget, is also on the list. This week, the price of BGB increased by 42.60%, rising above the psychological barrier of $4. According to the daily chart, BGB is trading in a rising channel. This shows that the altcoin will continue to reach higher lows and higher highs. With volume indicating increased buying pressure, BGB’s price is likely to move higher in the short term. If this is the case, a rally towards $6 is possible. However, if selling pressure increases as altcoin holders book profits, the token is likely to drop to $2.91.
The opinions and predictions in the article belong to the analyst and are definitely not investment advice. Kriptokoin.com We strongly recommend that you do your own research before investing.
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