Top altcoins: Defying the broader market uncertainty, the Bonk and Internet Computer emerged as the peak performers this week
Published 2 days ago
Updated 5 hours ago
Top altcoins to buy: Since early December, the cryptocurrency market has seen increased volatility, with Bitcoin pausing its recovery at around $44,500. This has led to sideways movement in many altcoins. The US Federal Reserve’s decision to keep interest rates unchanged at 5.25%-5.50% could maintain trader optimism.
The potential approval of the first Bitcoin spot exchange-traded funds (ETFs) in January 2024 is viewed as an opportunity to recuperate the exhausted bullish momentum before the next leap.
Thus, this pullback can offer a lucrative dip opportunity to accumulate one’s favorite tokens.
#Bitcoin consolidating after eight weeks of upwards momentum is a natural pattern.
The upwards momentum is most likely already done or close to done.
Before the ETF launch, a rally to $48-50K seems likely, after that long period of consolidation. pic.twitter.com/cwHEsTQ7tV
— Michaël van de Poppe (@CryptoMichNL) December 15, 2023
Bonk Pumps Again After Binance Support
The dog-themed crypto on Solana has been having a spectacular week. Bonk’s initially broke out on December 12 after Coinbase announced its integration. A couple of days later, Binance, the largest crypto exchange by trading volume added support for Bonk as a tradeable asset, increasing exposure to investors and traders.
Trading is now open for $BONK on #Binance
➡️ https://t.co/5dWYFhTPiG pic.twitter.com/8bQZTZLSbW
— Binance (@binance) December 15, 2023
By the press time, Bonk is up 4% to trade at $0.0000247, bringing the cumulative one-week gain to 60%, 81.5% in a fortnight, and 654% in 30 days. Its market cap soared to $1.8 billion, boosting Bonk into the top fifty largest digital assets.
The Relative Strength Index (RSI) insists that Bonk is heavily overbought but since FOMO is driving the rally, the meme coin could sustain the uptrend over the weekend, especially if the price discovery resistance at $0.000034 breaks. On the downside, traders can look out for support at $0.00001, reinforced by the 20-day EMA (in blue) and the local support at $0.000007, as highlighted by the 50-day EMA (red).
Recommended for you: BONK Meme Coin: Top Holders Dumping After Coinbase, Binance, crypto.com Listings
Internet Computer Price Prediction: Can Blast Through $8 Resistance
Investors continue to scoop up Internet Computer as the price rallies, currently trading at $9.187 The Relative Strength Index (RSI), although overbought affirms the bullish grip.
With a 27% intraday jump, the ICP price gave a decisive breakout from the Feb 23′ high of $8.2. This breakout backed by a huge uptick in the volume reflects the buyers’ conviction to prolong the recovery trend. The post-breakout rally could chase potential targets of $9.8, followed by $11.4, and $15.
A recently formed bullish crossover is helping to keep Internet Computer steady. The 50-day EMA (in red) crossover with the 200-day EMA (purple) reinforces the bullish thesis.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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