This previous week noticed vital volatility within the cryptocurrency market, with many altcoins rising whereas others skilled declines amid lowering investor demand. In line with Ayotunde Alabi, CEO of Luno Nigeria, Ethereum (ETH) continued its upward momentum whilst Bitcoin stalled, delivering stable positive factors throughout each short- and long-term timeframes.
A number of different altcoins adopted ETH’s lead, posting notable positive factors. Therefore, BeInCrypto has analyzed three trending altcoins that made waves in Nigeria this week that traders ought to watch.
Ethereum (ETH)
Ethereum has managed to navigate latest market volatility with vital assist from traders. As corporations more and more mirror Bitcoin’s company treasury use case, Ethereum is gaining traction.
BeInCrypto spoke with Alabi, who emphasised that the rising momentum behind Ethereum displays broader curiosity in its adoption and market potential.
“Nasdaq-listed Bit Digital has totally shifted its treasury technique to Ethereum, promoting its Bitcoin holdings and utilizing $172 million in raised funds to accumulate over 100,000 ETH. CEO Sam Tabar says the corporate sees Ethereum’s programmable design, increasing adoption, and staking yield mannequin as catalysts for redefining the monetary system,” Alabi said.
Ethereum’s worth surged 20.51% over the previous week, reaching $3,544 and marking a 6-month excessive. The rally strengthened after ETH fashioned a Golden Cross final week.
With this bullish momentum, Ethereum is now concentrating on $4,000 within the coming days, benefiting from investor confidence and rising institutional curiosity.
Nevertheless, if Ethereum’s bullish momentum weakens and traders choose to promote, the value might decline to $3,131. This is able to erase latest positive factors and invalidate the present bullish outlook. A
XRP (XRP)
XRP has proven spectacular efficiency this week, with a 24.5% rise and a brand new all-time excessive (ATH) at $3.66. The altcoin’s surge made it the third-most traded cryptocurrency on Luno in Nigeria.
This rally indicators rising curiosity in XRP, significantly in areas like Nigeria, fueling market optimism.
XRP is presently holding above the assist degree of $3.38. Whereas the value is cooling off, the Parabolic SAR remains to be beneath the candlesticks, signaling that the uptrend stays intact.
If the bullish momentum continues, XRP might breach its $3.66 ATH and push towards $3.80, marking additional positive factors.
Nevertheless, a decline stays doable if the altcoin faces promoting stress. The brand new ATH comes after six months of worth fluctuations.
A pullback beneath $3.38 might deliver XRP to $3.00 and even decrease, invalidating the present bullish outlook and signaling potential market corrections.
Hedera (HBAR)
HBAR has skilled a 34% worth improve over the past seven days, buying and selling at $0.266. This surge is essentially attributed to its robust correlation with Bitcoin, with a correlation coefficient of 0.92, indicating that HBAR’s worth actions are extremely influenced by Bitcoin’s efficiency available in the market.
The rally has been mirrored in buying and selling volumes on Luno in Nigeria, the place HBAR has turn out to be one of many top-traded altcoins.
“The newest catalyst got here on the RAISE Summit 2025, the place Hedera was named the ledger layer for Verifiable Compute, an AI answer developed by EQTY Lab in partnership with NVIDIA, SCAN UK, and Accenture. The institutional endorsement sparked renewed investor curiosity and indicators a serious step for Hedera because it expands into the rising AI-blockchain area,” Alabi advised BeInCrypto.
HBAR’s upward development is anticipated to proceed if Bitcoin maintains its momentum, pushing the previous to $0.300.
Nevertheless, if Bitcoin experiences a downturn, HBAR might face the same decline. In such a state of affairs, the altcoin might fall to $0.220, invalidating the present bullish outlook.
Disclaimer
Consistent with the Belief Mission tips, this worth evaluation article is for informational functions solely and shouldn’t be thought of monetary or funding recommendation. BeInCrypto is dedicated to correct, unbiased reporting, however market circumstances are topic to vary with out discover. All the time conduct your individual analysis and seek the advice of with knowledgeable earlier than making any monetary choices. Please be aware that our Phrases and Situations, Privateness Coverage, and Disclaimers have been up to date.