Today (5) the featured altcoins include cryptocurrencies that have previously gained attention. These assets are among the most discussed and researched due to several factors.
According to CoinGecko, the altcoins highlighted today (5) are Hyperliquid (HYPE), Render (RENDER) and Sui (SUI). See why they are on the list.
A Hyperliquid (HYPE)
HYPE, the native token of decentralized exchange Hyperliquid, is in the spotlight primarily because of its price action. In the last 24 hours, the HYPE price has increased by 11.60% and is trading at US$13.45.
According to CoinGecko, the altcoin’s market cap has surpassed $4 billion thanks to this price surge. Trading volume in the last 24 hours has also surged above $275 million, indicating increased interest in the token.
If volume continues to rise, HYPE price could continue to soar. However, if volume drops, this may not happen as the value of the altcoin may plummet.
Hyperliquid Price Chart. Source: CoinGecko
Render (RENDER)
Just like Hyperliquid, RENDER is also in the spotlight due to its performance. In the last 24 hours, RENDER’s price has increased by 15% and is now above $10. This makes the AI-themed token one of the best-performing altcoins today (5).
On the daily chart, the Accumulation/Distribution (A/D) line has increased. The A/D shows whether there is increased selling or buying pressure. When the indicator reading increases, buying pressure is dominant.
But if it is the other way around, sellers are in control. Therefore, with the current trend, buyers have the upper hand. Thus, the price of RENDER may continue to rise.
Render Daily Analysis. Source: TradingView
If this is the case, the altcoin’s value could rise to $11.83, which is the high point of the last wick. On the other hand, if sellers take control, this prediction could be invalidated, and RENDER could drop to $7.36.
To you (ON)
On several occasions, SUI has appeared on the list of featured altcoins today (5). Each time it has happened, it has been for a different reason. The layer-1 blockchain token is part of the featured cryptos because its price has risen by 15% and managed to surpass the US$ 4 mark.
An examination of the daily chart shows that the token reached $4.18 due to a bullish flag formation. This flag, which indicates the continuation of an uptrend after consolidation, suggests that SUI’s price may continue to rise.
Sui Daily Analysis. Source: TradingView
If this trend continues, SUI price could rise to $4.80. However, if sellers push the price below the lower trendline of the bull flag, this may not happen. Instead, SUI could drop to $2.82.
The article Why are SUI and two other altcoins on the rise today, 12/05/24? was first seen on BeInCrypto Brasil.
