Bonk (BONK), Internet Computer (ICP)
Top altcoins: Bonk and Internet computer stand out as the biggest gainers this week as crypto majors wobble.
Published 3 hours ago
Top altcoins to buy: The cryptocurrency market is ushering in the weekend in the red, as Bitcoin price slashed gains accrued this week. It appears that sentiment surrounding the Federal Reserve projection of three rate cuts in December was not enough to get the market out of the overbought death dive.
With Bitcoin spot exchange-traded funds (ETFs) likely approval in January, many expected the rally to cool off ahead of an even bigger breakout.
Therefore, these dips could be opportunities for many to get on board to capitalize on the post-ETF approval price.
#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
In just 24 hours, Bonk is up 70% to trade at $0.000029, bringing the cumulative one-week gain to 139%, 630% in a fortnight, and 979% 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 $7.18. The Relative Strength Index (RSI), although overbought affirms the bullish grip.
The single most important milestone for ICP would be to break resistance at $8 by first closing the day above $7—a level likely to keep traders confident in the bullish outlook.
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.
