This Week's Market Saw VIRTUAL Protocol Emerge as the Top Gainer, While Memecoins Topped the Losers Chart

This week saw Virtual Protocol [VIRTUAL] emerge as the top-performing asset, gaining 39.80%, while Aave [AAVE] and Chainlink [LINK] also delivered impressive returns.

Virtual Protocol [VIRTUAL] emerged as the top-performing asset last week, notching up a 39.80% gain, according to data from CoinMarketCap.

It started the week on a positive note, rising by 2.65% to trade around $1.70. The uptrend gained momentum between the 11th and the 13th of December, where sharp buying pressure pushed the price to a peak of $2.45.

This rapid surge reflected strong market sentiment and bullish activity, further supported by the growing trading volume.

By week’s end, the price stabilized around $2.45 despite experiencing a minor 0.19% decline, which signals a brief profit-taking phase.

The consistent increase in volume highlights sustained investor interest. Its volume has declined by over 32% as of this writing and is now around $205 million.

AAVE emerged as the second-highest gainer of the past week, posting an impressive 29.49% increase. The asset started the week with a modest upward move, trading around $282.85, reflecting early signs of bullish momentum.

AAVE’s price action reached a turning point on the 12th of December, with a sharp 21.20% surge that propelled its value to a weekly high of $367.10, driven by strong market demand and rising trading volumes.

Despite the strong performance, AAVE experienced minor selling pressure towards the end of the week, settling at $365.49 after a 3.24% decline.

The price correction suggests some profit-taking but remains within an overall bullish structure. If AAVE holds above $360, it could attempt to retest its recent high, with $340 as the critical support level to watch.

Chainlink [LINK] emerged as the third-highest gainer of the past week, recording a 12.66% increase despite significant price fluctuations.

It kicked off the week with a 5.23% gain, trading around $26.10, signaling early bullish sentiment. However, the price faced a sharp downturn the following day, dropping by 14.57% to a weekly low of approximately $22.

This correction reflected profit-taking pressure but failed to dampen the overall bullish outlook.

The major turning point occurred on the 12th of December, when LINK saw an impressive 21.12% spike, catapulting its price to $29.00.

This sharp recovery was accompanied by a surge in trading volume, indicating renewed investor confidence and momentum.

By the end of the week, LINK stabilized at $29.11, registering a slight gain and solidifying its position as one of the top-performing assets.

From a technical perspective, LINK remains above its 50-day moving average, acting as a key support level.

The Relative Strength Index (RSI) hovered around 69, nearing overbought territory, suggesting cautious optimism for continued gains.

The upward trajectory of the 20-day Bollinger Bands reflects sustained volatility with room for further upside.

If bulls maintain momentum, Chainlink could target the $30 psychological resistance, with the $28 level as immediate support.

A decisive move above $30 could open doors to further gains, while failure to hold support may trigger a minor pullback.