Bitcoin (BTC) briefly retested the $72,000 mark final week earlier than retracing a few of its features. In the meantime, among the prime cryptocurrencies achieved modest features.
The worldwide cryptocurrency market capitalization rose modestly by $10 million, closing the week at $2.54 trillion.
Listed here are our prime cryptocurrencies to look at this week, primarily based on their notable performances final week:
TON hits new ATH
Toncoin (TON) exhibited noteworthy value motion final week, beginning the week robust after an enormous 8.6% enhance on June 2. This spectacular surge allowed the Telegram-based asset to shut above $6.8 for the primary time in three weeks.
TON maintained the bullish trajectory till it clinched a brand new all-time excessive of $7.86 on June 5. This determine surpassed the earlier all-time excessive (ATH) of $7.67 that was attained in April.
Regardless of witnessing appreciable declines within the days that adopted, Toncoin closed final week with an 11% enhance. Nonetheless, it typically recorded a drop in its on-balance quantity (OBV) all through the week.
TON’s OBV dropped from 155.3 million to 127.8 million tokens final week. This divergence means that it may not have sufficient energy to maintain the uptrend into the brand new week.
Ought to a correction happen, TON’s rapid resistance rests on the 23.6% Fibonacci retracement ($6.969).
ADA retests $0.49
Cardano (ADA) has underperformed over the previous few weeks, and final week was no completely different.
The altcoin’s battles across the $0.40 territory lingered regardless of two consecutive intraday features on June 3 and 4, which culminated in a 3.3% enhance.
Driving on BTC’s spike on June 7, ADA recorded a pointy rise to retest the $0.49 stage for the primary time in over two weeks. This led to a correction, with Cardano ultimately closing the week on a 3% loss.
Notably, ADA has slipped additional under the Ichimoku Cloud, confirming its downtrend. Cardano should breach $0.46 to flip this momentum to bullish.
Furthermore, a break above the resistance between Senkou Span A ($0.4588) and Senkou Span B ($0.5416) would grant sufficient energy to the bulls.
SWFTC uncertainty
SwftCoin (SWFTC) was one of many prime performers final week regardless of a turbulent begin. SWFTC noticed two intraday losses initially of final week, resulting in a drop under the $0.005 psychological assist.
Nonetheless, a restoration push noticed the token spike by exceptional margins within the days that adopted. Ultimately, SWFTC retested the $0.0079 excessive on June 8 for the primary time in three months. SWFTC closed final week with a 36% spike.
Amid the sustained uptrend, the asset slipped into overbought areas, as its relative energy index (RSI) surged to 79.71 on June 8. Nonetheless, following a pointy 10% correction to $0.006, SWFTC’s RSI has cooled under 70, leaving extra room for development.
