Bitcoin (BTC) made a brief push towards the $72,000 level last week before pulling back slightly. Meanwhile, some of the top cryptocurrencies experienced modest gains.
The overall global cryptocurrency market cap saw a modest increase of $10 million, ending the week at $2.54 trillion.
Here are the top cryptocurrencies to keep an eye on this week based on their performances last week:
TON Hits New All-Time High
Toncoin (TON) showed significant price movement last week, starting strong with an 8.6% increase on June 2. This surge helped the Telegram-based asset close above $6.8 for the first time in three weeks.
TON continued on a bullish path, reaching a new all-time high of $7.86 on June 5, surpassing the previous ATH of $7.67 in April.
Despite some declines in the following days, Toncoin ended the week with an 11% increase. However, its on-balance volume (OBV) saw a decrease throughout the week, suggesting a possible lack of strength to sustain the uptrend.
If a correction occurs, TON’s immediate resistance is at the 23.6% Fibonacci retracement level of $6.969.
ADA Retests $0.49
Cardano (ADA) has struggled in recent weeks, and last week was no exception. Despite two consecutive intraday gains on June 3 and 4, resulting in a 3.3% increase, ADA continued to battle around the $0.40 level.
Following a spike in BTC’s price on June 7, ADA made a sharp rise to retest the $0.49 level for the first time in over two weeks. This was followed by a correction, and Cardano closed the week with a 3% loss.
ADA has fallen below the Ichimoku Cloud, confirming a downtrend. To reverse this momentum, Cardano must break through $0.46.
Additionally, breaching the resistance between Senkou Span A ($0.4588) and Senkou Span B ($0.5416) would provide strength to the bulls.
SWFTC Uncertainty
SwftCoin (SWFTC) was a top performer last week despite a rocky start. After experiencing two intraday losses early in the week, SWFTC dropped below the psychological support level of $0.005.
However, a recovery led to significant gains in the following days. SWFTC retested the high of $0.0079 on June 8 for the first time in three months, closing the week with a 36% increase.
During the uptrend, the asset entered overbought territory, with the relative strength index (RSI) reaching 79.71 on June 8. After a 10% correction to $0.006, SWFTC’s RSI cooled below 70, indicating potential for further growth.