Last week witnessed a rise in investor interest throughout the crypto sector, propelling several assets to achieve new weekly peaks.
This optimistic trend is evident in an approximate 6% surge in the total cryptocurrency market capitalization, indicating renewed bullish activity among traders and investors. With this growing enthusiasm, some U.S.-based digital assets have marked significant gains and seem ready for additional upward movement this week.
Hifi Finance (HIFI)
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HIFI, the native token for the decentralized finance (DeFi) platform Hifi Finance, stands out as one of the U.S.-origin coins to monitor this week. After Binance’s announcement regarding its delisting, the token’s value has surged significantly.
On September 3, Binance confirmed its decision to delist HIFI from its exchange on September 17, referring to standard delisting regulations.
The announcement was expected to result in a sharp drop in price, as investors braced for reduced liquidity and interest in trading. Contrary to expectations, HIFI has experienced a remarkable increase, climbing over 500% in the past week.
This price surge seems to be fueled by traders aiming to inflate the token’s value ahead of the delisting, likely to secure last-minute gains.
Therefore, sentiment may shift once HIFI is officially removed from Binance. If profit-taking begins afterward, the token could see a decrease in value, potentially falling to $0.2541.
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However, if demand remains strong, HIFI could continue to climb and trade above $0.3775.
PLUME
The RWA-based token PLUME has risen 48% over the past week, establishing itself as another U.S.-origin coin to keep an eye on this week. As of this writing, the altcoin is trading at a three-month peak of $0.1381.
The upward movement in PLUME’s price is supported by increasing On-Balance Volume (OBV) in the one-day chart, indicating that buying pressure is propelling this upward trend.
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This momentum indicator has shown a continuous increase since September 4, rising by 28% during this timeframe.
The OBV utilizes volume flow to forecast changes in an asset’s price. An increasing OBV suggests that buying pressure is on the rise, potentially indicating that the token’s price may continue upwards. For PLUME, sustained demand could push the token to $0.1431 in the near future.
If selling pressure increases, however, PLUME may lose momentum, and the token’s value could decline to $0.1275.
io.net (IO)
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IO’s value has jumped 36% in the past week, making it one of the U.S.-origin coins to keep an eye on in the third week of September.
The daily chart illustrates a consistent rise in the token’s Smart Money Index, emphasizing the ongoing support from key token holders. Currently, this value stands at 1.65.
An asset’s SMI tracks the activities of seasoned or institutional investors by examining market behavior during the initial and final hours of trading. A decline in this metric suggests selling from these holders, indicating expectations of falling prices.
Conversely, as seen with IO, an increase in this indicator indicates heightened buying activity. If demand continues, the token’s price may surpass $0.876.
If buying pressure diminishes, the token’s price could revisit its all-time low of $0.507.
