The cryptocurrency market recently completed a highly bullish phase, with the global crypto market cap increasing by $220 billion to reach a record-high valuation of $3.8 billion as of Sunday.
This upward trend was primarily driven by Bitcoin (BTC), surpassing the $100,000 milestone. However, several altcoins also took advantage of the momentum, experiencing significant gains.
After their notable performances last week, here are our top cryptocurrency picks to watch this week:
JASMY Hits 2-Year Peak
JasmyCoin (JASMY) was a major beneficiary of last week’s uptrend. It continued a momentum that started on Nov. 27 and ended the week with an impressive 69% gain.
Introduced by Jasmy Corporation for the Ethereum-based Jasmy platform, JASMY aims to address concerns regarding data security. Operating on the Ethereum blockchain as an ERC-20 token, JASMY saw a 27.49% increase on Dec. 3, its largest intraday gain in nearly 10 months. Despite a slight pullback the next day, the asset achieved a more significant 45% rise on Dec. 5, reaching a two-year peak of $0.0590. JASMY has since dropped to retest $0.047, with its relative strength index (RSI) declining to 68. The asset must maintain $0.3912 to prevent steeper declines, with the next support at the 20-day MA at $0.03178.
QNT Surges 67%
Quant (QNT) also started the week on a bullish note, benefiting from Bitcoin’s uptrend to achieve a substantial weekly gain of 67%. This marked one of its most bullish weekly performances this year.
QNT is the ERC-20 utility token of the Quant blockchain project, focused on enhancing interoperability among different networks through its Overledger Network. The token has been a top performer in the current bull run, with the bulls defending a drop below $96 on Dec. 1. To sustain the uptrend, QNT must stay above the Fibonacci 0.618 retracement at $126.3. A push above $170.7 could initiate a new explosive phase.
MEW Stabilizes Below $0.01
Despite the overall market uptrend last week, cat in a dog’s world (MEW) mostly consolidated. The meme coin managed a 2.5% weekly gain.
Launched in March, MEW is a cat-themed Solana-based meme coin, standing out in a market dominated by dog-themed tokens. It garnered attention by burning 90% of its supply at launch and partnered with LOCUS Animation Studios to create a 3D animated series in May. MEW started last week with a 4.62% gain but faced a decline, retesting the $0.0083 low and consolidating at $0.009. Its MACD indicates a bearish trend, needing a bullish intervention. To switch its momentum, MEW must recover above the Pivot level at $0.010016 this week. Resistance levels are at $0.01204 and $0.01329.
Disclosure: This article is for educational purposes only and does not constitute investment advice.