Altcoin Gainers of the Week: HYPE, MOVE, BGB | Airdrop Alert Pro

At one point, the third week of December 2024 seemed destined to end badly for many cryptocurrencies, as market sentiment seemed extremely bearish. However, a late market rally reversed fortunes, with the week’s top three altcoins posting double-digit gains

In this analysis, BeInCrypto reveals the week’s biggest altcoins, how the assets got to this point, and what’s next for them likely to be. They include Hyperliquid (HYPE), Movement (MOVE) and Bitget Token (BGB),

Hyperliquid (HYPE)

Since December, Superliquids have gained a foothold One of the altcoin gainers of the week as it has been on the list for the past two weeks. This time is no different, with the decentralized exchange’s native token rising by 55%.

The price increase may be related to lower selling pressure on altcoins. In addition to this, the token has received Exchange listing exist KuCoin and Gate.io. This exchange listing shows that a large portion of the market now has access to the coin, which means increased trading volume.

On the 4-hour chart, Bull Bear Power (BBP), which measures the strength of buyers relative to sellers, is in positive territory. This suggests that the bulls are in control and the price of the altcoin may move higher.

Additionally, the Relative Strength Index (relative strength index) readings continue to rise, which means the momentum surrounding the Hyperliquid token is bullish. If this remains the same, HYPE prices may rise It will rise to $42.24 in the short term.

However, this trend could reverse if the altcoin becomes extremely overbought. In this case, the value of the token could drop to $26.16.

Movement (movement)

MOVE is the native token of the Ethereum Virtual Machine (EVM) layer 2 network movement and is part of this week Altcoins winner. all week, Price increases for MOVE 51.60%, about 25% of which occurred in the past 24 hours.

The price increase could be related to rising bullish sentiment and buying pressure on the coin. As of this writing, the price of MOVE has reached $1. The 4-hour chart shows that the Momentum Oscillator (AO) reading continues to climb higher.

Comparing historical price action with recent price action, an increase in the AO rating indicates bullish sentiment surrounding the coin. If this continues, the price of MOVE could climb to $1.44.

However, the altcoin must break above the $1.06 resistance to achieve this goal. Unable to break through this hurdle may invalidate predictionsthe price may drop to $0.76.

Bitget Token (BGB)

The third-highest altcoin gainer this week is BGB, the native asset of cryptocurrency exchange Bitget. This week, BGB prices soar A rise of 42.60% pushed the coin above the psychological $4 mark.

According to the daily chart, BGB is trading in an ascending channel, indicating that the altcoin may continue to hit higher lows and higher highs. BGB prices are likely to move higher in the short term as trading volume shows rising buying pressure.

If this is the case, then A rally to $6 could be coming pass. However, this could change if selling pressure increases as altcoin holders take profits. In this case, the value of the token could drop to $2.91.