HYPE Coin, MOVE, and BGB Surge With Double-Digit Gains: Victor Olanrewaju Discusses

Last week, market sentiment was overwhelmingly bearish. So, it was bad for many cryptocurrencies. However, a late-market rally reversed the fortunes

The crypto market saw a bearish trend last week, which affected many cryptocurrencies adversely. However, a late-market rally reversed the narrative. This enabled the top three top-gaining altcoins of the week to surge with double-digit gains. Crypto analyst Victor Olanrewaju discusses HYPE Coin and two tokens.

Hyperliquid (HYPE Coin): Stock market listings are off the charts, more to come!

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 gainers of the week. This time is no different, as HYPE Coin has risen by 55%. The increase in price is linked to the low selling pressure around the altcoin. Besides that, the token received exchange listings on KuCoin and Gate.io. This exchange listing means that a larger part of the market can now access the token. Therefore, this means increased trading volume.

On the 4-hour chart, the Bullish Bearish Power (BBP) is in positive territory. This suggests that the bulls are in control and the altcoin price could trade higher. Also, the Relative Strength Index (RSI) has continued to rise. This suggests that the momentum around HYPE Coin is bullish. If this situation remains the same, it is possible that HYPE could rise to $42.24 in the short term. However, if the altcoin becomes overbought, the token is likely to fall as low as $26.16.

Move (MOVE): Bullish sentiment is high!

MOVE is also among this week’s altcoin gainers. During the week, MOVE’s price increased by 51.60%. About 25% of this increase 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, the price of MOVE has reached $1. The 4-hour chart shows that the Awesome Oscillator (AO) reading continues to climb.

Comparing past price action with recent price action, the rise in the AO reading 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 resistance at $1.06 to achieve this. Failure to overcome this obstacle will invalidate the forecast and the price will likely fall to $0.76.

Bitget Token (BGB)

BGB, the native token of crypto exchange Bitget, is also on the list. This week, BGB’s price increased by 42.60%, breaking above the psychological barrier of $4. According to the daily chart, BGB is trading in an ascending channel. This suggests that the altcoin will continue to reach higher lows and higher highs. With the volume showing increased buying pressure, BGB’s price is likely to be 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 their profits, the token is likely to fall to $2.91.

The opinions and forecasts in the article belong to the analyst and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.