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- 1 Kaspa Led the crypto gainers this week marking an impressive 32% rise
- 2 Akash Network and AAVE follow the top gainers, rising over 20%.
The broader market seemed to be stabilizing near the lows this week after suffering volatility and selling pressure in the last couple of weeks. However, few cryptocurrency performed extremely well and headed for a recovery.
Kaspa crypto emerged as the top weekly gainer, rising over 32% a week. whereas, Akash Network and AAVE, Dogwifhat followed Kaspa showing a notable rise. Let’s uncover the top 1o coins leading the charge this week.
Kaspa (KAS) Cryptocurrency
Kaspa crypto claimed the top gainers spot of the week with an impressive 32% spike. Market capitalization was $4.53 Billion and it ranked 24th in the cryptoverse. Out of a total of 28.70 Billion KAS tokens, 83% i.e. 24.06 Billion tokens are in circulation.
The daily chart reveals that the KAS price bounced back from the 50 day EMA and inched higher towards the annual highs, marking a significant gain this week. The volume inflow has surged by 43% to $127 Million a day indicating a continuation in the trend.
Akash Network (AKT)
Akash Network price surged over 23% over the week marking a strong rebound from the lows. The bulls initiated a recovery after the price slipped below the annual lows and the price reclaimed territory above the 20 day Exponential moving average.
Despite making a strong comeback, AKT was hovering below the 50 day EMA. The price may reclaim bullish territory if it surpasses the 50 day EMA. However, if the bears make a comeback next week and the price suffers rejection from the 50 day EMA, it may continue to slide lower.
At the time of writing, the Akash network crypto was trading close to $3.59, recording a swift 1.61% rise intraday. It ranked 73rd in the cryptoverse with $881.42 Million in market capitalization.
Aave (AAVE)
Aave made an impressive rally after rebounding from the $79.61 support level. The crypto has surged over 18.1% this week claiming the one of the top three weekly gainers. It has a live market capitalization of $1.422 Billion and ranks 59th in the overall market.
The daily chart highlights the formation of a descending triangle pattern with an upper trendline acting as a resistance and the psychological level of $80 acting as a support zone.
Now, until the crypto stays inside these two ranges it may continue to remain in a sideways trend. However, a breakout or breakdown on either side could decide the next clear trend.
Dogwifhat (WIF)
Dogwifhat crypto has been in a declining trend for the last three weeks losing nearly 42% of its value. The price slipped lower breaking below an important support of $2.25 level. However, the price surged from the lows marking a nearly 15% jump this week.
At press time, WIF was struggling to surpass the 20 day EMA, indicating waning interest of the buyers. Hence, if the bearish pressure exceeds next week, the price may lose the recent week’s gains.
Avalanche (AVAX)
Avalanche crypto bounced back after retracing an important support of $25 level. AVAX gained nearly 12% this week and recovered over 75% of the gains of the second week.
Despite a strong recovery, the price could again face selling pressure this week. The bulls initiated a strong recovery in the 1st half of the week. However, they were struggling near the 20 day EMA at press time.
Now, if the bulls surpass the 20 day EMA, the price may resume its recovery towards the 50 day EMA. However, if the bulls fail to gain traction next week, the bears may take over and the price may retrace its path to $25.
Polkadot (DOT)
Polkadot crypto surged nearly 10.1% this week and made its way in the top 10 weekly gainers. The price rebounded from the psychological level of $5.5 and surged. At the time of writing, DOT was trading close to $6.128, indicating a swift 0.92% rise intraday.
The long term, as well as the short term trend outlook is bearish, which may drive the price towards the lows again. At the time of writing, the bulls were struggling near the 20 day EMA.
Now, if the price has to reclaim bullish territory, it needs to surpass the 200 day EMA above the $7 level. Until the price stays below the 200 day EMA , it could be at the risk of another decline.
Tron (TRON)
Tron crypto bounced back from the 50 day EMA and resumed its way towards the higher levels. The weekly performance of TRON has been awesome, rising over 8% a week. At the time of writing, the crypto was trading at $0.1252. It ranked 12th with a market capitalization of $10.91 Billion.
The trend outlook reveals a bullish bias in the short term as well as long term. TRON was hovering near a crucial resistance of $0.1263, which, if surpassed, could go towards its yearly high.
Oasis (ROSE)
Oasis crypto bounced back from the demand zone and surged, adding nearly 8.45% over the week. The daily chart showcases a sideways trend and consolidation with support near the $0.08 and resistance at $0.133.
At the time of writing, Oasis crypto was exchanging hands at $0.101, recording an impressive 4.35% rise in intraday. The market capitalization was $668 Million and it ranked 97th among the top 100 cryptocurrencies. The volume to market cap ratio was 1.91%, highlighting low volatility in the crypto.
BOOK OF MEME (BOME)
BOME crypto was up over 4.12% intraday, adding to a 7.64% rise over the week. The price action analysis reveals that BOME was in a correction phase for the last few weeks. However, the bulls have started gathering near the lows which is evident from a consolidation at the lows.
Currently, BOME crypto is struggling to surpass the 50 day EMA. At press time, market capitalization was $677.1 Million and it ranked 95th in the cryptoverse.
The transaction volume dropped by 28.8% to $86.88 Million intraday. Moreover, the volume to market cap ratio was 12.64% indicating mild volatility in the crypto.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.
