Today, the altcoin season is back on the rise after a brief pause. The main reason for this is that most of the trending altcoins have seen their prices increase by double digits in the last 24 hours. LINK Coin and similar altcoins stand out on this list, thanks to increased investor confidence and lower selling pressure. Crypto analyst Victor Olanrewaju discusses 3 noteworthy tokens.
Top altcoin: Hyperliquid (HYPE)
Hyperliquid has established itself as a trending altcoin in the market. Despite only entering the market a few weeks ago, HYPE has outperformed many crypto assets despite not having any exchange listings. In particular, HYPE’s value increased by 464.50% during this period, 30% of which occurred in the last 24 hours alone. The trading volume during this period exceeded $230 million, indicating that on-chain interaction is quite high. If this trend continues, HYPE is likely to rise to $18 in the short term. However, if altcoin holders decide to sell some of their assets, the token’s price could fall.
Second ranked altcoin: Fartcoin (FARTCOIN)
The quirky Solana-based meme coin Fartcoin has seen a 15% increase in the last 24 hours. The token is known for its amusing “gas fee” system that makes a digital fart sound with every transaction. However, this is not the only factor behind Fartcoin’s rise. Notably, Fartcoin reached its ATH level, surpassing the $500 million market cap, which puts it firmly in the top spot among trending altcoins. Previously, Fartcoin lost 52% of its value between November 30 and December 5, and this decline caused the token’s value to drop from $0.36 to $0.17. According to current data, Bullish Bear Force (BBP) indicates that buyers are entering the market strongly and reversing the trend. If BBP continues to rise, Fartcoin is likely to reach $0.60 in the short term. Also, if buying pressure increases, the token is likely to rise to $0.90. However, if the meme coin experiences high selling pressure, a drop to $0.29 is also possible.
Last ranked altcoin: Chainlink (LINK Coin)
The LINK Coin price has been on a strong rise recently. Notably, this altcoin reached its highest level in nearly 37 months. But this is not the only reason why Chainlink is among the trending altcoins. On December 11, Donald Trump’s World Liberty Finance company purchased $1 million worth of LINK. However, it seems that the Trump team is not the only buyer; Santiment data revealed that wallets holding 100,000 LINK have accumulated a total of 5.67 million LINK in the last two months. If this whale accumulation continues, the price of LINK Coin can be expected to increase even more. From a technical perspective, LINK Coin turned the previous resistance level at $22.34 into support, which suggests that the altcoin may avoid possible corrections. If this support level is confirmed, the price of LINK could climb above $29.46 and climb towards $34. However, if the token breaks below this support, the price is likely to drop to $17.99.
