HNT had a lot of price movements during the previous week. A closer look at the candle suggests that it had both positive and negative moments.
It is worth noting that the global cryptocurrency market cap also had moments like this. For example, it opened the intraweek session at $1.54 trillion. As the period progressed, most crypto assets saw significant increases. As a result, the cap increased to a high of $1.68 trillion. This means the sector gained more than 8%.
Near Protocol was one of the top gainers over the last seven days. It opened at $2.26 but experienced small decreases that saw the asset test the $2 support. However, it rebounded and started a massive surge. Due to this, it tested and broke the $4 resistance for the first time since September 2022. It soon retraced from it peak at $4.10 and dropped to a close at $3.80. This signifies a more than 67% positive change in value.
With a focus on the new week, the crypto market is yet to see any significant changes in value. This is as a result of the relative stability across major assets. Let’s see how they will perform within the next five days.
Top Cryptocurrencies to Watch
BTC/USD
A closer look at the weekly candle suggests that Bitcoin had a splendid performance. Two weeks ago, the apex coin lost more than 5% as it dropped to a low of $40k. The last seven days were different as the top coin made several attempts at reclaiming these levels. In the end, the asset closed with gains exceeding 4%.
On Monday, the coin flipped bullish after a small downtrend. It kicked off trading at $41,337 but had small retracements. As a result, it dropped to a low of $40,513 before the rebound. Afterward, it hit a high of $42,732 and closed with gains of more than 3%.
Another major event took place on Wednesday. BTC started trading at $42,257 but had small increases in buying volume. As a result, it tested the $44k resistance and peaked at $44,291. It retraced as it lost momentum and dropped to a close at $43,665; another 3% positive change.
The new week is not kicking like the previous as the apex coin is seeing more decreases in value. Although it closed the previous intraday session with small gains, the present is the opposite. This comes as the cryptocurrency dropped below $42k for the first time in more than seven days.
It is recovering and exchanging at $42,488. However, this further demonstrates the notable decrease in buying volume. If this continues, BTC may retest the $40k support. As seen a few weeks ago, a rebound may take place following this trial.
On the other hand, the $44k resistance remains the main barrier. It remains to be seen if it will break the said mark within the next few days.
SOL/USD
Solana had its biggest single-week surge. A closer look at the chart suggests that it also had significant attempts at critical resistance. It kicked off at $70 and ended at $112 which meant that it closed with gains of more than 59%.
One of the main highlights of the session took place on Wednesday. It started trading at $72 but enjoyed a massive increase in buying volume that saw it break through a critical level. For the first time in more than a year, the asset is breaking through the $80 barrier. It continued its hike as it peaked at $84 before a small correction that saw it close at $82.
Another highlight took place on Thursday. It surged and edged close to testing the $100 resistance. However, it failed in its bid as it faced strong rejections at $96. It had small corrections and dropped to a close at $93. This meant that it closed with gains of more than 14% following its opening at $82.
With a focus on the new week, SOL may not see as much positive momentum as the previous intraweek session. Following the massive surge during the previous seven-day period, the coin is bound to see more corrections.
If this happens, the first level to watch is the $88 support. Using the weekly chart, it is observed that the mark held out against several attempts. This means that there is significant demand concentration around it. If it fails, SOL may drop as low as $75.
On the other hand, it may continue its uptrend and attempt more resistance. Following it flip of $120, it may surge above $140.
HNT/USD
Helium had one of the most volatile performances during the previous week. A look at the weekly chart suggests that it made attempts at breaking some critical barriers. However, the candle representing the session is a doji. Additionally, it failed to register any notable changes in value in the end.
One of the main events happened on Tuesday. The altcoin opened trading at $7.80 and enjoyed significant increases. As a result, it tried testing the $9.50 resistance but failed. This happened after it faced strong rejection at $9.20. Afterward, it dropped to a close at $8.74 which meant it gained more than 14%.
It’s hard to predict how prices may perform this week. However, HNT had a bearish divergence during the previous intraweek session. With this in mind, Helium may see more decreases.
