3 top cryptocurrencies to watch this week

The global crypto market rebounded last week, gaining 2.79% and closing with a market capitalization of $2.21 trillion.

This increase added $60 billion to the market’s overall valuation.

While Bitcoin (BTC) led the rally, some altcoins also played a role in the market recovery. Some of the prominent players of last week are as follows:

SUI increased by 28%

Sui (SUI) had a strong performance last week, closing up 28% from $1.75 to $2.24. The most bullish moments occurred during the market recovery on October 11 and 12, during which there was a 21% increase.

SUI 1D chart – October 13 | Source: crypto.news

Sui fell 5.60% on October 9 despite a bullish announcement involving Circle’s USDC. Currently trading at $2.2266, SUI is currently above the upper limit of the Keltner Channel at $2.2186, indicating potential overbought conditions.

This suggests that although momentum is strong, a period of consolidation or a minor correction could come this week unless strong buying pressure continues. Since volume is still high, the bulls may benefit from this.

Meanwhile, Aroon Up is at 100%. In contrast, Aroon Down at 28.57% indicates a weak downtrend. However, if Aroon Down rises this week, it could indicate increasing downward pressure. In this case, SUI may find support at $1.8286.

The Sui token was created by Mysten Labs, a blockchain infrastructure company founded by engineers who previously worked at Meta Platforms on the Diem (formerly Libra) project.

The company was co-founded by notables including Evan Cheng, Sam Blackshear, Avery Ching, and George Danezis, all of whom contributed to Meta’s blockchain and cryptocurrency efforts before moving on to found Sui.

CHZ retests 4-month high

Chiliz (CHZ), a cryptocurrency powering the Chiliz blockchain, benefited from broader market movements last week to maintain its rounded bottom structure while continuing its trend of lower bottoms.

See below.

CHZ 1D chart – October 13 | Source: crypto.news

The altcoin closed the week with an 11.8% gain, but its most impressive performance came in the form of significant gains throughout the week. For example, on October 9, CHZ rose to a 4-month high of $0.0784 before hitting a hurdle.

Chiliz recorded another 9% increase in the new week, breaking above the upper level of the Bollinger Band at $0.0752. A retest and bounce of this level will signal continued strength for the current uptrend to continue.

However, if the bears can trigger a decline below the upper Bollinger Band, investors need to pay attention to the 20-day MA ($0.0663), which is currently acting as major support above the $0.06 psychological zone.

Chiliz is primarily focused on the sports and entertainment industries. It was created by entrepreneur Alexandre Dreyfus in 2018 to transform fan engagement through blockchain technology.

COIN records six bullish days

Last week, 8-Bit Coin (COIN) secured a rise in six out of seven days. Like the rest of the market, COIN started the week strong but continued its uptrend from October 7-10 despite the broader market facing a correction.

COIN 1D chart – October 13 | Source: Trading Outlook

The asset’s only down day was on October 9, when it dropped 2.78%. Meanwhile, it continued the lower-bottom trend that has been in place since October 4th, eventually ending the week up an impressive 22%.

8-Bit Coin’s most impressive achievement was maintaining a neutral RSI of 56.49 despite last week’s 22% increase. This suggests there is still room for upside momentum.

If the bulls continue their rise, the next resistance level will be at $0.0007335, after which it may struggle with the resistance at $0.00008016. Amidst a recent decline, COIN should ensure that it holds the critical Pivot level at $0.0006232 as a decline below this could turn the momentum bearish.

8-Bit Coin is a cryptocurrency created as an homage to retro gaming systems such as the Atari 7800. Solana runs on the blockchain and is designed for use in gaming-related applications; It allows users to earn rewards and join a community. focused on nostalgia and gaming culture