As of Sunday, the global cryptocurrency Market cap has dropped to $3.42 trillion, marking a near 10% decline over the past two weeks. Bitcoin struggled to reach $100,000, testing the $90,000 support before rising to over $97,200. Despite the overall downturn, some altcoins performed well. XRP gained 33%, retesting a significant peak; ApeCoin rose 13.6% and broke through a narrow price range; and Algorand spiked an impressive 51% after a notable price crossover. Investors should watch XRP, ApeCoin, and Algorand for their potential to continue upward momentum amid the Market‘s fluctuations.
The global cryptocurrency Market has seen a significant correction, with the overall Market cap dropping to $3.42 trillion as of Sunday. This marks a nearly 10% decline from just two weeks ago. Bitcoin, which aimed for the $100,000 mark but struggled last week, managed to hold above the crucial $90,000 support before rebounding to just over $97,200.
Despite the general bearish trend in the Market, several altcoins have shown remarkable resilience and performance. Here are a few notable ones to watch out for in the upcoming week.
XRP has made headlines by retesting its peak from 2021. Although it fell over 12% from November 24 to 26, it ultimately closed the week with a staggering 33% gain. After hitting $1.28 on November 26, XRP experienced a strong rebound, surpassing the resistance at $1.63 and briefly overtaking Binance Coin in Market ranking. If XRP continues to ascend and breaks the $1.96 resistance level, it could reclaim the $2 mark for the first time since the 2018 bull run.
ApeCoin, associated with the Bored Ape Yacht Club ecosystem, also made waves last week with a 13.6% increase. It broke out of a symmetrical triangle pattern and climbed back to $1.5 by the end of the week. However, it is crucial for the bulls to defend the $1.3 level to maintain upward momentum.
Algorand has outperformed expectations with an impressive 51% spike last week. Most of this surge happened on November 29, when it recorded a massive 36.92% intraday gain, recovering to $0.48—a level not seen since the Terra collapse in May 2022. If Algorand can breach a critical resistance at $0.4893, it may sustain this upward trend.
Overall, while the crypto Market faces challenges, these altcoins appear to be shining through the darkness. Keep an eye on these assets as we move into the next week for potential opportunities.
Tags: Cryptocurrency, Bitcoin, XRP, ApeCoin, Algorand, Crypto Market Update, Altcoins, Market Trends, Investment News.
What are the top cryptocurrencies to watch this week?
This week, you should keep an eye on Bitcoin, Ethereum, Binance Coin, Cardano, and Solana. They often show interesting movement and news.
Why is Bitcoin important to watch?
Bitcoin is the first and most valuable cryptocurrency. It often sets the trend for the entire Market, so changes in its price can affect others.
What makes Ethereum stand out?
Ethereum is not just a currency; it also allows for smart contracts and decentralized apps. Its developments can influence a lot of projects in the crypto space.
How can Binance Coin impact the Market?
Binance Coin is used on one of the largest cryptocurrency exchanges. Changes in its value can indicate trading activity and investor sentiment.
Why should I be interested in Cardano and Solana?
Cardano and Solana are known for their innovative technology and quick transaction speeds. They are getting a lot of attention for their potential growth and real-world applications.
