HYPE, HBAR Top First Week
In previous bull markets, the last month of the year has typically brought significant appreciation for cryptocurrencies. Therefore, the altcoin rally in the first week of December 2024 may not come as a surprise to seasoned cryptocurrency investors, who have witnessed similar surges many times before.
These gains could be related to intense buying pressure, capital rotation among large-cap stocks, and several other reasons. That said, altcoins with the biggest gains include Hyperliquid (HYPE), Hedera (HBAR) and JasmyCoin (Jasmine).
Hyperliquid (HYPE)
Hyperliquid’s HYPE led altcoin gains this week. In the past seven days, its price has surged 122% due to intense buying pressure.
November 29, Hyperliquid has issued 310 million HYPE Provide tokens to its community. Since then, the altcoin’s price has increased from $3.90 to $14.78.
This hike is accelerated News this week that cryptocurrency exchanges Bybit and OKX have conducted pre-market HYPE listings suggests that full listings are not far away. Should these Platform lists altcoinsthen trading volume may increase, which may result in a higher price for HYPE.
If this happens in the coming week, altcoins could once again be among the top gainers. Therefore, investors may want to pay close attention to token-related developments.
Ivy(HBAR)
HBAR is another cryptocurrency that altcoin risers can’t live without in December 2024. Like HYPE, the altcoin’s value increased by more than 100% this week. During this week, BeInCrypto reports on HBARnoting that open interest (OI) around it has reached peaks not seen in years.
The rise in OI points to significant speculation surrounding cryptocurrencies as well as buying pressure in derivatives markets. Technically, the 4-hour chart shows a bull flag forming.
A bull flag is a key technical analysis chart pattern that usually indicates that a bullish trend is about to continue. This pattern is characterized by a sharp price increase (a “flagpole”) followed by a brief flag-like consolidation phase, indicating a temporary pause before upward momentum resumes.
With this model, HBAR prices may rise Once the $0.39 resistance is exceeded, it will rise to $0.50. However, if the bears resist the breakout, this probably won’t happenthe price may drop to $0.29.
Jasmine Coin (JASMY)
this Decentralized Physical Infrastructure Network (DePIN) The JasmyCoin project ranks third in the list of altcoin gainers in December 2024. This week, JASMY Bounce Up 91%, it is currently trading at $0.051.
As a result, the market capitalization has exceeded $2.5 billion. Given the positive Moving Average Convergence Divergence (MACD), it appears that the price of JASMY may be headed higher in the short term.
This is because a positive MACD translates into bullish momentum. Therefore, if it remains unchanged, the altcoin’s value could soon climb to $0.059 or higher.
On the other hand, if profit taking comes into play, this may not happen and the coin could drop to $0.043.
Disclaimer
conform to trust project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions, privacy policyand Disclaimer Updated.
