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On December 5, trending cryptocurrencies include those that have attracted attention in the past. These properties top the most discussed and searched list due to various factors.
According to CoinGecko, the currently trending altcoins are Hyperliquid (HYPE), Render (RENDER) and Sui (SUI). This is why they are on this list.
Hyperliquid (HYPE)
HYPE, the native token of decentralized exchange Hyperliquid, is making headlines mainly because of its price fluctuations. Over the past 24 hours, HYPE’s price has increased 11.60% and is currently trading at $13.45.
According to CoinGecko, the altcoin market capitalization has surpassed $4 billion thanks to this price increase. Trading volume over the past 24 hours also increased to over 275 million USD, demonstrating increased interest in this Token.
If volume continues to increase, HYPE’s price may continue to escalate. However, if volumes decrease, this may no longer happen and the value of the altcoin may decline.
Render (RENDER)
Similar to Hyperliquid, RENDER also became a trend thanks to its performance. Over the past 24 hours, RENDER’s price has increased by 15% and is now surpassing the $10 mark. This makes the AI theme token one of the best performing altcoins today.
On the daily chart, the Accumulation/Distribution (A/D) indicator has strengthened. A/D shows whether there is higher selling or buying pressure. When this index increases, buying pressure prevails.
But if it’s the other way around, the sellers are in control. So, with the current trend, the bulls (buyers) have the controlling advantage. Therefore, the price of RENDER may continue to increase.
If this happens, the value of the altcoin could rise to $11.83, which is the highest point of the most recent candlestick body. Conversely, if the sellers prevail, this prediction could be invalidated, and RENDER could drop to $7.36.
Sui (SUI)
Many times, SUI has appeared on the list of trending altcoins today. Each time for different reasons. Today, this Layer-1 blockchain Token is on the list because its price has increased by 15% and has surpassed the 4 USD mark.
A review of the daily chart shows that the token has reached $4.18 thanks to the formation of a bull flag pattern. This pattern, which points to a continuation of the uptrend after a correction, suggests that SUI’s price may continue to rise.
If this trend continues, SUI’s price could climb to $4.80. However, if the bears push the price below the lower resistance of the bull flag, this may not happen. Instead, SUI could decline to $2.82.
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