Last week, the top cryptocurrencies showed mixed performances as Bitcoin (BTC) experienced losses, dragging most altcoins down with it. However, a select few assets continued their upward momentum, building on rallies that began two weeks prior.
Despite some cryptocurrencies seeing gains, the overall market valuation took a hit due to Bitcoin’s price drop. As a result, the global crypto market cap decreased by 1.16% to $2.54 trillion.
Here are the top cryptocurrency picks to keep an eye on this week based on their standout performances last week:
NOT, AXS, and TIA prices – June 2 | Source: Santiment
NOT Surges 304%, Leads Gainers List
Notcoin (NOT) stole the spotlight last week with an impressive performance. Despite initially dropping 55% after its launch, the Telegram-linked project made a remarkable comeback following a low of $0.00458 on May 24. NOT continued its winning streak, experiencing gains in six out of seven days last week.
As a result of its surge, Notcoin saw a 304% increase in value over seven days, making it the top gainer in the previous week. While currently trading at $0.02505, representing a 348% increase from its low point, NOT is still down 44% from its peak of $0.037 upon debut on Binance.
With an RSI of 82.48 on the daily timeframe, NOT appears to be in overbought territory, signaling a potential correction ahead. If the bulls can maintain momentum, a recovery from a possible retracement could push prices above $0.03 once again.
AXS Holds Steady Despite Market Volatility
Axie Infinity (AXS) faced market fluctuations last week but managed to recover from losses. After a 2.99% drop on May 26, AXS bounced back with a 6.72% gain on June 1, offsetting most losses from the previous week.
Despite a mere 0.9% loss overall, AXS’s RSI of 55.73 indicates room for further growth. Breaking through resistance at the upper Bollinger Band ($8.348) could pave the way for a push towards the April 24 highs at $8.4 and potentially reclaiming a yearly peak of $13.5.
On the downside, AXS must defend the support at the 20-day EMA around $7.60. A breach below this level could lead to a drop below $7, with the lower Bollinger Band at $6.882 acting as immediate support.
TIA Retests Highs Above $11
Celestia (TIA) was among the few cryptocurrencies to see gains last week, with three consecutive days of positive momentum at the start of the week. TIA surged 26.2% from May 26 to 28, reaching a high of $11.96 before facing resistance.
After a correction that pushed TIA below $11 and the 21-week EMA, the asset rebounded, closing the week above $11 but below the 21-week EMA at $11.47. With TIA currently trading at $11.10, defending the 23.6% Fibonacci retracement level at $11 is crucial to avoid a shift towards bearish territory.
Looking ahead, $11.97 serves as a key resistance level for TIA to reach greater price heights.