Altcoins Log Substantial Weekly Gains – XRP, Aave, and LUNA

The market-wide bullish mood has had many tokens recording upward moves on their respective price charts. Terra leads top gainers with an over 18% increase, while AAVE and EXP gained up to 8% within the past 24 hours.

The global crypto market cap saw a 1.7% increase over the previous 24 hours to $2.42 trillion. At this publication, XRP hovered at $0.91 while targeting the $1 mark. Meanwhile, AAVE exchanged hands around $197 as LUNA targets the $100 mark in the up-and-coming trading sessions.

LUNA/USD 4Hr Chart

LUNA kick-started a massive upward move with no price correction signs at this publication. The altcoin has its ROI shooting up by 62.7% within a week. Buyers have joined the market, anticipating return as Terra recorded a somewhat ‘terrific’ ascent last week.

Short-term technical has displayed a heavy bullish picture on LUNA’s 4hr trading chart. Terra has its price well past 20-SMA, confirming market buying power accompanying the positive price movements. For now, the digital coin’s immediate resistance stands at $100.83. A drop will see Terra wavering around the $76.49 support floor, leading to a 22% crash.

The RSI stayed beyond the overbought region. Meanwhile, Awesome Oscillator flashed an emerging green histogram at this publication, showing bullishness in LUNA price. However, profit-taking might drive the prices to lower soon.

XRP/USD 4Hr Chart

December has witnessed XRP losing ground several times. Nevertheless, Ripple had been erasing the incurred loss over the past 48hrs. The alt might soon see double-digit surges as it trades near the $1.0 level.

The case pushed Ripple to overbought and overvalued conditions, elements seen a few times over the past month. It has maintained well beyond the nearest support at $0.91 while resistance stood at $1.

For now, RSI showed a massive increase in buying power as Aroon showed bullish preference. MACD saw a bullish cross and flashed green sign bars. If a bearish action invalidates the prevailing momentum, XRP might land around $0.91, then $0.80.

AAVE/USD 4Hr Chart

AAVE succeeded in sustaining beyond critical support of $163.2 while trading at 4197. The coin experienced a swift correction from 78.6% FIB level, and Aave’s massive resistance zone was 50% FIB level.

The alt benefits from the markets’ buying pressure, surge 17% over the past seven days only. The RSI moved to the overbought region amid overvalued conditions at the moment. Meanwhile, the coin’s support sits at $162.2. Furthermore, the DMI flashed bulls’ favoritism.

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