Bitcoin (BTC) made a brief return to the $72,000 mark last week before experiencing a slight pullback, while some of the leading cryptocurrencies saw modest gains.
The total market capitalization of the global cryptocurrency market 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 notable performances last week:
ADA, TON, and SWFTC Prices – June 9 | Source: Santiment
TON Reaches New All-Time High
Toncoin (TON) showed significant price movement last week, kicking off the week with a strong start with an 8.6% increase on June 2. This surge allowed the Telegram-based asset to close above $6.8 for the first time in three weeks.
TON continued on a bullish trajectory, reaching a new all-time high of $7.86 on June 5, surpassing the previous ATH of $7.67 from April. Despite some declines in the following days, Toncoin closed the week with an 11% increase. However, there was a drop in its on-balance volume (OBV) throughout the week.
TON’s OBV decreased from 155.3 million to 127.8 million tokens last week, indicating that it may not have enough momentum to sustain its upward trend into the new week. In case of a correction, TON’s immediate resistance lies at the 23.6% Fibonacci retracement level at $6.969.
ADA Retests $0.49
Cardano (ADA) has been struggling in recent weeks, with last week being 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 mark.
Following Bitcoin’s surge on June 7, ADA saw a sharp rise retesting the $0.49 level for the first time in over two weeks. However, this led to 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 needs to break above $0.46.
Additionally, breaching the resistance between Senkou Span A ($0.4588) and Senkou Span B ($0.5416) would provide bullish momentum for ADA.
SWFTC Uncertainty
SwftCoin (SWFTC) was one of the top performers last week despite a rocky start. After experiencing two intraday losses at the beginning of the week, SWFTC dropped below the $0.005 psychological support level.
However, a recovery push led to significant gains in the following days, with SWFTC retesting the $0.0079 high on June 8 for the first time in three months. The week closed with a 36% spike for SWFTC.
During the sustained uptrend, the asset entered overbought territory, with its relative strength index (RSI) hitting 79.71 on June 8. Following a 10% correction to $0.006, SWFTC’s RSI cooled below 70, indicating potential for further growth.
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