At one point, the 3rd week of December 2024 appeared predestined to close on a sour note for numerous cryptocurrencies, as market belief appeared extremely bearish. A late rally throughout the market reversed fortunes, permitting the leading 3 altcoin gainers of the week to rise with double-digit gains
In this analysis, BeInCrypto exposes the greatest altcoin gainers of the week, how the possessions increased to the point, and what might be next for them. They consist of Hyperliquid (HYPE), Movement (MOVE), and Bitget Token (BGB),
Hyperliquid (HYPE)
Given that December started, Hyperliquid has actually held its ground as one of the altcoin gainers of the week, as it was on the list throughout the very first 2 weeks. This time, it is not various, as the native token of the decentralized exchange climbed up by 55%.
The increase in cost might be connected to low selling pressure around the altcoin. That, the token has actually gotten exchange listings on KuCoin and Gate.io. This exchange listing recommends that a majority of the marketplace can now access the token, which indicates increased trading volume.
On the 4-hour chart, the Bull Bear Power (BBP), which determines the strength of purchasers compared to sellers, remains in the favorable zone. This suggests that bulls remain in control, and the altcoin’s rate might trade greater.
Hyperliquid 4-Hour Analysis. Source: TradingView
The Relative Strength Index (RSI) reading has actually continued to increase, indicating that the momentum around the Hyperliquid token is bullish. Need to this stay the very same, HYPE’s rate might increase to $42.24 in the short-term.
If the altcoin gets incredibly overbought, this pattern may reverse. Because situation, the token’s worth may decrease to $26.16.
Motion (MOVE)
RELOCATION, the native token of Ethereum Virtual Machine (EVM) Layer-2 network Movement, is likewise part of today’s altcoin gainers. Throughout the week, MOVE’s cost got 51.60%, with about 25% of this being available in the last 24 hours.
The boost in cost might be connected to the bullish belief and increasing purchasing pressure around the token. Since this writing, MOVE’s rate has actually struck $1. The 4-hour chart reveals that the Awesome Oscillator (AO) reading has actually continued to climb up.
Comparing historic rate motions with current ones, the increase in the AO score suggests a bullish belief around the token. Need to this stay the case, MOVE’s cost may reach $1.44.
Motion 4-Hour Analysis. Source: TradingView
The altcoin will have to break through the resistance at $1.06 to accomplish that. Failure to break through this obstacle might revoke the forecast, and the cost may decrease to $0.76.
Bitget Token (BGB)
Third on the list of altcoin gainers today is BGB, the native property of the crypto exchange Bitget. Today, BGB’s rate rose by 42.60%, pressing the token above the $4 mental barrier.
Based upon the everyday chart, BGB sells a rising channel,
