Click here for Vote and get 5 USDT
The cryptocurrency market has experienced a robust recovery, with a $170-billion surge in valuation, boosting the market cap by 8% to $2.26 trillion. Among the notable movers, Solana (SOL), Fetch.ai (FET), and Render (RNDR) are capturing significant attention. Here’s what to watch for in these top performers this week:
🚀 Solana ($SOL ): Reclaiming $160
Last week, Solana surged 12%, hitting a two-week high of $162 on August 24, despite challenges surrounding its ETF product. SOL closed the week strong, currently trading at $157.17. Crucially, it remains above the 200-day EMA at $140.12, signaling sustained bullish momentum.
- Key Levels to Watch:
- Support: Holding above the 200-day EMA and key support at $153.18 is vital for maintaining the upward trend.
- Resistance: Watch for a retest of the $160-$162 resistance zones, which could pave the way for further gains.
- Indicators:
- The Chande Kroll Stop suggests a Stop Long at $145.22 and Stop Short at $153.18. A breach below $153.18 could signal a bearish reversal, so keep an eye on this level.
🔥 Fetch.ai ($FET ): A 50% Surge
Fetch.ai emerged as one of last week’s top gainers, spiking 50% and reclaiming the $1 level. On August 24, FET reached a monthly peak of $1.3 before pulling back to $1.249.
- Key Levels to Watch:
- Support: Strong support is identified at $1.063 and $0.945, with a crucial pivot at $1.255.
- Resistance: Immediate resistance points are at $1.447 and $1.565. A break above these could target the 200-day EMA at $1.766.
- Indicators:
- FET trades above the 50-day EMA at $1.108, reflecting midterm bullish momentum. However, the asset remains below the 200-day EMA, indicating ongoing long-term bearish sentiment.
🚨 Render (RNDR): Breaching the Upper Bollinger Band
Render had a stellar performance last week, rising 37% and reclaiming the $6 level. Currently trading at $6.153, RNDR is above the Upper Bollinger Band at $5.894, often signaling overbought conditions.
- Key Levels to Watch:
- Resistance: If the current momentum continues, RNDR could aim for higher targets around $6.5 and potentially $7.0.
- Support: A dip below the Upper Band might lead to a retest of the 21-day moving average at $4.875.
- Indicators:
- The ADX at 33.25 supports the idea of sustained upward momentum, with a bullish bias confirmed by +DI at 28.35 and -DI at 16.63.
💡 Investment Insights
- Solana needs to hold above $153.18 to sustain its bullish trend, with a strong focus on the $160-$162 resistance.
- Fetch.ai could see further gains if it breaks above its immediate resistance levels, targeting the 200-day EMA.
- Render may face a consolidation phase, but if momentum holds, it could push toward the $7.0 mark.
👉 Stay ahead of the curve by monitoring these top movers! Like and follow for more updates on key cryptocurrencies and market trends!
