The post Altcoin Gainers of the Week: HYPE, MOVE, BGB appeared on BitcoinEthereumNews.com.

At one point, the third week of December 2024 seemed destined to close on a sour note for many cryptocurrencies, as market sentiment appeared overwhelmingly bearish. However, a late rally across the market reversed fortunes, allowing the top three altcoin gainers of the week to surge with double-digit gains In this analysis, BeInCrypto reveals the biggest altcoin gainers of the week, how the assets rose to the point, and what could be next for them. They include Hyperliquid (HYPE), Movement (MOVE), and Bitget Token (BGB), Hyperliquid (HYPE) Since December began, Hyperliquid has held its ground as one of the altcoin gainers of the week, as it was on the list during the first two weeks. This time, it is not different, as the native token of the decentralized exchange climbed by 55%. The rise in price could be linked to low selling pressure around the altcoin. Besides that, the token has gotten exchange listings on KuCoin and Gate.io. This exchange listing suggests that a larger part of the market can now access the token, which means increased trading volume. On the 4-hour chart, the Bull Bear Power (BBP), which measures the strength of buyers compared to sellers, is in the positive zone. This indicates that bulls are in control, and the altcoin’s price could trade higher. Hyperliquid 4-Hour Analysis. Source: TradingView Also, the Relative Strength Index (RSI) reading has continued to rise, implying that the momentum around the Hyperliquid token is bullish. Should this remain the same, HYPE’s price could rise to $42.24 in the short term. However, if the altcoin gets extremely overbought, this trend might reverse. In that scenario, the token’s value might decline to $26.16.  Movement (MOVE) MOVE, the native token of Ethereum Virtual Machine (EVM) Layer-2 network Movement, is also part of this week’s altcoin gainers.…

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Filed under: News - @ December 21, 2024 9:26 am