The cryptocurrency market has just concluded a highly favorable phase, with the global market capitalization rising by $220 billion to achieve an all-time high of $3.8 trillion as of Sunday.
This positive momentum was primarily fueled by Bitcoin (BTC), which crossed the $100,000 threshold. Additionally, several altcoins benefited from this trend, experiencing substantial gains.
In light of their impressive performances last week, here are our leading cryptocurrency selections to monitor this week:
JASMY reaches a 2-year peak
JasmyCoin (JASMY) emerged as a primary beneficiary of last week’s uptrend. The momentum traced back to November 27 and culminated in an impressive 69% gain at the week’s end. See below.
Developed by Jasmy Corporation for the Ethereum-based Jasmy platform, JASMY aims to address concerns regarding data security. It functions on the Ethereum blockchain as an ERC-20 token.
The token surged by 27.49% on December 3, marking its most significant intraday increase in almost 10 months. Following a slight pullback the next day, the asset achieved a remarkable 45% surge on December 5, ultimately reaching a two-year peak of $0.0590.
JASMY has since retraced to test $0.047. Its relative strength index (RSI) has also dropped to 68.
The asset needs to maintain $0.03912 to prevent sharper declines. Failing to do so, the next support level lies at the 20-day MA of $0.03178.
QNT sees a 67% rally
Quant (QNT) started the week on a bullish trajectory, riding on Bitcoin’s momentum to record a noteworthy weekly gain of 67%.
This marked one of its most bullish weekly performances of the year.
QNT serves as the ERC-20 utility token for the Quant blockchain project, designed to enhance interoperability across various networks via its Overledger Network.
The token has been among the top performers in the ongoing bullish trend. Quant has been progressing within an ascending channel since early November, with buyers leveraging the lower trendline to prevent a dip below $96 on December 1.
As bullish momentum diminishes, QNT must stay above the Fibonacci 0.618 retracement level at $126.3 to remain within the channel and continue the upward momentum. If the rally resumes, surpassing $170.7 could signal the beginning of a new explosive phase.
Overledger connects blockchains and traditional systems without necessitating changes to infrastructure. It supports the creation of multi-chain applications (mDApps) for smooth interactions across networks.
Targeted towards sectors such as finance, healthcare, and supply chain, Quant enables use cases like cross-border payments, supply chain transparency, and digital identity management.
With collaborations with Oracle and Hyperledger, Quant stands out in its effort to integrate blockchain technology with regulated industries.
MEW maintains consolidation below $0.01
Despite the prevailing bullish trend in the market last week, Cat in a Dog’s World (MEW) largely remained range-bound. Nevertheless, the meme coin managed to post a 2.5% gain for the week.
Launched in March, MEW is a cat-themed meme coin based on Solana, standing out in a space typically dominated by dog-themed tokens. It attracted attention by burning 90% of its supply during launch.
In May, the project forged a partnership with LOCUS Animation Studios to produce a 3D animated series, further enhancing its story and expanding its fan base. Shortly after launch, MEW reportedly handled $150 million in transaction value and generated significant interest in the Solana ecosystem.
By December 1, MEW opened the week with an impressive 4.62% gain; however, this momentum quickly reversed. The token plummeted 7.32% over two days, testing the $0.0083 low, and then consolidated at $0.009 following a slight rebound.
Its MACD is also indicating a bearish trend, necessitating a change to restore bullish momentum. This week, MEW needs to rise above the Pivot level at $0.010016 to regain bullish momentum. If successful, the first resistance lies at $0.01204, with an additional obstacle at $0.01329.
Disclosure: This article does not constitute investment advice. The information and materials presented on this page are for educational purposes only.
