#sol #MOVER Top cryptocurrencies to watch this week: MOVR, SOL, OP
The cryptocurrency industry added $100 billion to the global market capitalization this week, with notable contributions from top performers Moonriver (MOVR), Solana (SOL) and Optimism (OP).
Moonriver spikes 170% in a day
Moonriver traded at the mercy of the bears at the early stages of the week, but decoupled and made its fortunes as the week progressed.
The token started the week at a value of $6.6141, and continued to consolidate between $6.1253 and $6.8328.
Its breakthrough emerged on Dec. 21 amid surging social mentions and increased investor demand. Moonriver rallied 68% from $6.7233 on Dec. 21 to $11.35 the next day. But the token faced resistance at this price point, witnessing an 11.06% drop within three hours.
MOVR continued to collapse. Bears set out to trigger a full retracement of the Dec. 21 upsurge. This drop was likely triggered by selling pressure, as investors sought to dump their holdings at the 14-month-high above $11. Before this week, the last time MOVR saw $11-plus was in October 2022.
A correction did not erase all the recently accumulated gains. Moonriver held strong above the $9 psychological threshold.
The asset eventually spiked 146% on Dec. 23, breaking above multiple resistance points, and closing the day at $23.978.
Some market watchers attributed the uptrend to a similar rally engineered by Kusama (KSM), the native token of the Kusama blockchain on which Moonriver resides. The uptrend spilled into today, with MOVR rallying to a 19-month high of $44 today before witnessing resistance. Moonriver is up 170% today and 378% this week.