Cryptocurrency markets appear to be recovering, bringing gains to many assets. In this sense, some altcoins have even set new all-time highs.
BeInCrypto analyzed the three best-performing cryptocurrencies of the past seven days, which include POPCAT, which recorded a new ATH this week.
FTX Token (FTT)
FTXâs native token, FTT, has surprised the market by outperforming all major altcoins in the top 100 cryptocurrencies. FTT has surged 95% over the week and is currently trading at $2.72. This dramatic surge has caught the attention of traders and investors.
The rally was mainly driven by rumors about the start of payments to creditors. With the hearing for the distribution plan scheduled for October 7, the bullish sentiment is expected to continue, potentially fueling a further increase in the price.
FTT Chart on TradingView
If the momentum holds, FTT could rally to $2.98. However, the token could see a drop to $2.54 or even $2.20 if it weakens, making investors cautious about potential risks.
Popcat (POPCAT)
POPCAT hit a new all-time high this week, surging 31% in 24 hours. The Solana-based memecoin broke through the $1 resistance, setting a new ATH at $1.29 after struggling to break above that level throughout the week.
The catalyst for this sudden rally remains unclear, but if holders avoid selling, the coin could continue its upward trajectory. This could result in the formation of a new all-time high, further boosting market sentiment.
POPCAT chart on TradingView
However, if profit-taking occurs, it could halt the bullish momentum. A drop to $1 could follow, and losing this key support level would invalidate the currently bullish outlook.
Read more: Solana Blockchain Memecoins That Are Promising for 2024
Wormhole (W)
Wormholeâs price may not have seen explosive gains like other tokens, but it still impressed with a 14.8% surge. Currently trading at $0.34, the altcoin has gained the attention of its investors.
Wormhole nearly reached an intraweek high of $0.42 but retreated below the $0.35 resistance. This barrier has been intact since mid-July, and breaking it could lead to a further rise towards the $0.42 mark.
Wormhole Chart on TradingView
Testing $0.42 as resistance would set a nearly four-month high. However, if Wormhole fails to break $0.35, it could remain in consolidation between $0.28 and $0.35, invalidating the bullish outlook.
The article Cryptocurrencies that rose the most in the last week was seen for the first time on BeInCrypto Brasil.
