Four cryptocurrencies have experienced significant gains on the Binance exchange, with some coins surging by over 180% in a single day. This remarkable increase is a signal of excitement in the market, potentially attracting new investors and possibly indicating the start of a bull market.
MOVR Coin has seen a staggering price increase of 183% in one day, reaching over $39. This unusual spike suggests a growing appetite for risk among investors. The upcoming week is expected to be quiet on the macro front, with the holiday season in full swing and the SEC having completed most of its work, including over 30 meetings with ETF applicants this month alone.
The recent rally of MOVR Coin is part of a sustained upward trend, with the price reaching levels last seen in April 2022. Other cryptocurrencies like SOL Coin have also revisited their April price levels, indicating a potential for massive gains if the trend continues to the last quarter peaks of 2022.
For the rally to persist, MOVR Coin must overcome a tough weekly resistance at $44.5. Failure to do so could lead to a pullback to $33 and $29, with ultimate targets set at $99 and $237.
KSM Coin is also showing a similar weekly surge. If it breaks through the $70 barrier, which was a significant hurdle in mid-2022, the price could climb impressively to $205. Conversely, a drop to $47 is possible in the opposite scenario.
ACA Coin’s continued rally is indicated by closes above $0.1. Having faced rejection at $0.15, a level that turned into a strong resistance during the first quarter of 2023, surpassing this could lead to local peaks between $0.38 and $2.16, eventually reaching the all-time high region. However, the unpredictable nature of the crypto market means that even a 10% chance of an SEC ETF rejection could turn things upside down.
Lastly, ALCX Coin has broken a weekly downtrend and is currently above the resistance level of late 2022. If it maintains closes above $32.8, ALCX could see a significant peak between $50 and $140. If the trend reverses, support levels at $25.7 and $21.8 could be tested.