The most noteworthy cryptocurrencies this week: AVAX, JASMY, BONK
🔸#AVAXhits new year low
Avalanche (AVAX) has suffered a heavy blow recently, especially on June 17 and 18, when market volatility increased significantly. AVAX rose slightly by 0.23% at the beginning of the week, but this increase was significantly behind Bitcoin's slight rise on the same day.
However, as the collapse of Bitcoin triggered a decline in the entire market, Avalanche plummeted, plummeting nearly 12% in just two days, and its price fell to $26.60 for the first time since December last year.
AVAX broke the lowest price record this year twice last week. On June 18, it hit a new year low of $24.94, and then on June 22, it fell to a lower value of $24.52.
The asset fell by 14.66% last week and closed the week at $25.61. This figure means that Avalanche is down 33% year-to-date.
🔸#JASMYRetests Lower Bollinger Band
JasmyCoin (JASMY) has seen higher gains during its rally. For example, the token surged 12.33% on June 16, when BTC and other assets saw minimal gains.
However, the correction after this rally caused JASMY to fall for four consecutive days, eventually plummeting 25%. JASMY finally retested the lower Bollinger band ($0.0296) on June 20, and even briefly fell below it.
However, the asset then surged and decisively broke through the lower band, rising 8.52% on June 22.
🔸#BONKCrashes
As the only meme coin in this week's "top cryptocurrencies" list, Bonk (BONK) is extremely volatile. Its decline is far more severe than the rest of the market.
After a 3% gain on June 16, bearish forces caused BONK’s price to plummet by 17% on June 17-18.
BONK entered a consolidation phase after a sharp drop and remains bearish despite being listed on Bitstamp. The weekly decline amounts to 15.6%. BONK must break above the 23.6% Fibonacci retracement level ($0.00002543) and the 50-day moving average ($0.00002637) to turn its trend bullish.
