While many altcoins experienced significant losses, three standout cryptocurrencies achieved remarkable gains in the past hour. As Senate voting commenced, Bitcoin’s price began to climb, nearing $103,000. Alongside, some battered altcoins like SHIB and DOGE continued with double-digit gains. However, the focal point remains on three exceptional cryptocurrencies.
RENDER Coin’s Ambitious Target
Among the top 100 cryptocurrencies, FIL, FET, and RENDER coins emerged as the best performers, achieving gains of 26%, 15%, and 11.54% respectively in the past hour. FIL has risen 148% over the week, and FET gained 70% in the same period, affirming the sustained excitement among short-term altcoin gains.
RENDER saw a 44% increase in daily performance. Having dipped to $1.78 earlier this week, it briefly touched $0.443 during the October 10 crash. Although discussions around an artificial intelligence bubble have overwhelmed risk markets and deterred appetite, Trump expressed no concern over these debates. A sustained closure above $2.35 could propel it towards reclaiming the $3 and $3.34 levels, with the latter needed as a support for further growth.
FIL and FET Coin
Filecoin (FIL) managed to breach a key resistance level, accelerating its rally by surpassing $1.8. Even with declining liquidity, the inflow of funds into these select altcoins has led to impressive results. The increased OTHERS Dominance offered solace despite BTC’s decline.
Could the altcoin bull market be kicking off in this fashion? As closures above $3.32 persist, FIL Coin’s rally is expected to continue, though short-term investors are yet to initiate profit-taking. Attention should be paid to the degree of profit-taking, with the new target set at a rally base of $4.35. Should this level be breached and turned into support, a revisit to the December peak of $8.44 could be on the horizon.
Artificial intelligence altcoin FET Coin is among the first to come to mind. As GPT surged at the end of 2022, people reminisced missing buying opportunities at the $0.3 mark. There were 475 days between the GPT launch and the FET Coin peak, during which the price climbed 33 times. Despite being far from the $3.47 ATH, investors are pleased as prices rebound to levels unseen for 29 days. The $0.43 mark holds significance here, and sustained closures above could establish a $0.54 rally base, propelling towards new highs near $1.