Chiliz
3 top cryptocurrencies to watch this week
Published
3 hours agoon
By
adminThe global crypto market staged a recovery last week, posting a 2.79% increase and closing with a market capitalization of $2.21 trillion.
This surge added $60 billion to the market’s overall valuation.
While Bitcoin (BTC) spearheaded the rally, several altcoins also played a role in the market’s recovery. Below are some of the standout performers from last week:
SUI rallies 28%
Sui (SUI) had a strong showing last week, surging 28% from $1.75 to close at $2.24. Its most bullish moments came up during the market recovery on Oct. 11 and 12, during which it spiked 21%.
Sui dropped 5.60% on Oct. 9 despite a bullish announcement involving Circle’s USDC. Currently trading at $2.2266, SUI is now above the upper boundary of the Keltner Channel at $2.2186, which indicates potential overbought conditions.
This suggests that while the momentum is strong, a period of consolidation or a minor correction could follow this week unless strong buying pressure persists. Volume remains high, so bulls could leverage this.
Meanwhile, the Aroon Up is at 100%. In contrast, Aroon Down at 28.57% indicates a weak downtrend. However, if the Aroon Down rises this week, this may indicate growing bearish pressure. In this case, SUI could find support at $1.8286.
The Sui token was created by Mysten Labs, a blockchain infrastructure company founded by engineers who previously worked at Meta Platforms on the Diem (formerly Libra) project.
The company was co-founded by notable figures including Evan Cheng, Sam Blackshear, Avery Ching, and George Danezis, all of whom contributed to Meta’s blockchain and cryptocurrency efforts before transitioning to build Sui.
CHZ retests 4-month high
Chiliz (CHZ), a cryptocurrency that powers the Chiliz blockchain, leveraged the broader market movements last week to maintain its rounded bottom structure, as it sustained a trend of lower lows.
See below.
The altcoin closed the week with an 11.8% gain, but its most impressive performance occurred as notable spikes throughout the week. For instance, on Oct. 9, CHZ rallied to a 4-month peak of $0.0784 before facing a roadblock.
Chiliz has now recorded another 9% rally in the new week, pushing it above the upper Bollinger Band at $0.0752. A retest and bounce off this level would signal continuous strength for a sustenance of the current uptrend.
However, if the bears are able to trigger a drop below the upper Bollinger Band, investors should pay close attention to the 20-day MA ($0.0663), which currently acts as the major support above the $0.06 psychological region.
Chiliz is primarily focused on the sports and entertainment industries. It was created by entrepreneur Alexandre Dreyfus in 2018, to transform fan engagement through blockchain technology.
COIN records six bullish days
Last week, 8-Bit Coin (COIN) secured six bullish days out of seven. Like the rest of the market, COIN began the week strong, but maintained its uptrend from Oct. 7 to 10 despite the broader market facing a correction.
The asset’s only bearish day came up on Oct. 9, when it dropped 2.78%. Meanwhile, it sustained a trend of lower lows that has played out since Oct. 4, eventually closing the week with an impressive 22% rise.
8-Bit Coin’s most impressive feat was maintaining a neutral RSI of 56.49 despite the 22% increase last week. This suggests that it still has room for further upward momentum.
If the bulls maintain the uptick, its next resistance level would come in at $0.0007335, after which it could battle the $0.00008016 resistance. Amid a recent drop, COIN must ensure it holds the crucial Pivot level at $0.0006232, as a slump below it could tilt the momentum to bearish.
The 8-Bit Coin is a cryptocurrency created as a tribute to retro gaming systems, such as the Atari 7800. It operates on the Solana blockchain and is intended for use in gaming-related applications, allowing users to earn rewards and participate in a community focused on nostalgia and gaming culture
Source link
You may like
Cardano and the XRP price action lock in bulls vs bears battle as RCO Finance prepares for 3,000% surge
Crypto Exchange OKX Moves To Support USDC Ecosystem by Adding Six New Trading Pairs
AAVE Price Eyes $200 as Whale Buying Sphere Hits Key Fibonacci Support
US SEC to Appeal XRP Secondary Sales In Ripple Lawsuit, Says Ex-SEC
What Is ‘Off the Grid’? The Buzzy Battle Royale Shooter Built on Avalanche
XYZ meme coin turns sports hype into 99,900% gains
Cardano and the XRP price action lock in bulls vs bears battle as RCO Finance prepares for 3,000% surge
Crypto Exchange OKX Moves To Support USDC Ecosystem by Adding Six New Trading Pairs
AAVE Price Eyes $200 as Whale Buying Sphere Hits Key Fibonacci Support
3 top cryptocurrencies to watch this week
US SEC to Appeal XRP Secondary Sales In Ripple Lawsuit, Says Ex-SEC
What Is ‘Off the Grid’? The Buzzy Battle Royale Shooter Built on Avalanche
XYZ meme coin turns sports hype into 99,900% gains
Cardano Founder Charles Hoskinson Calls Out Craig Wright Amid Recent Lawsuit
Protocol Village: Karate Combat, Web3 Contact Sport, Launches Own Layer-2 Chain 'UP' on Hedera
Blockchain pioneer predicts 8,500% rally for this altcoin set to compete with ADA, DOT in 2025
SUI Price Soars To New ATH, What’s Next?
A Sign Of What’s To Come?
Uniswap veteran turns bullish on Kaspa and Cybro
Ethereum Price Risks Of Falling If It Loses This Key Support Level
Analysts says these tokens as future Bitcoin competitors
182267361726451435
Top Crypto News Headlines of The Week
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
New U.S. president must bring clarity to crypto regulation, analyst says
Ethereum Crash A Buying Opportunity? This Whale Thinks So
Bitcoin Open-Source Development Takes The Stage In Nashville
Why Did Trump Change His Mind on Bitcoin?
Ethereum, Solana touch key levels as Bitcoin spikes
Will XRP Price Defend $0.5 Support If SEC Decides to Appeal?
Shiba Inu Price Slips 4% as 3500% Burn Rate Surge Fails to Halt Correction
Citigroup Executive Steps Down To Explore Crypto
‘Hamster Kombat’ Airdrop Delayed as Pre-Market Trading for Telegram Game Expands
Mostbet Güvenilir Mi – Casino Bonus 2024
Bitcoin flashes indicator that often precedes higher prices: CryptoQuant
Crypto Market Movers: 5 Altcoins Making Waves This Bull Run
Trending
- 4 weeks ago
182267361726451435
- 24/7 Cryptocurrency News2 months ago
Top Crypto News Headlines of The Week
- Bitcoin3 months ago
Bitcoin 20% Surge In 3 Weeks Teases Record-Breaking Potential
- News1 month ago
New U.S. president must bring clarity to crypto regulation, analyst says
- Altcoins2 months ago
Ethereum Crash A Buying Opportunity? This Whale Thinks So
- Opinion3 months ago
Bitcoin Open-Source Development Takes The Stage In Nashville
- Donald Trump3 months ago
Why Did Trump Change His Mind on Bitcoin?
- Bitcoin3 months ago
Ethereum, Solana touch key levels as Bitcoin spikes