Notable cryptocurrencies to keep an eye on this week NOT AXS TIA
In the past week, there were contrasting developments in the world of cryptocurrencies. While Bitcoin (BTC) experienced losses and many altcoins followed suit, a select few assets saw significant gains, continuing the upward trend that began two weeks earlier.
Despite some cryptocurrencies performing well, the drop in Bitcoin’s price had a negative impact on the overall market valuation. As a result, the global crypto market cap decreased by 1.16% to $2.54 trillion.
Here are the top cryptocurrency picks to keep an eye on this week based on their notable performances last week:
NOT, AXS, and TIA Prices – June 2 | Source: Santiment
NOT Surges 304%, Leads Gainers List
Notcoin (NOT) was the standout performer of the previous week. Despite an initial drop of 55% shortly after its launch, as airdrop recipients sold off their tokens, NOT managed to bounce back from a low of $0.00458 on May 24. The asset continued its upward trajectory, with six out of seven days last week ending in gains.
As a result, Notcoin spiked by an impressive 304% in seven days, making it the top gainer in the previous week. Although the asset is currently trading at $0.02505, representing a 348% increase from its lowest point, it is still down 44% from its peak of $0.037 upon debut on Binance.
With an RSI of 82.48 on the daily timeframe, Notcoin may be facing overbought conditions, hinting at a possible correction. If prices fall below $0.02 in the short term, a recovery could see it surpass previous highs above $0.03.
AXS Holds Steady Despite Market Volatility
Axie Infinity (AXS) experienced fluctuations in the market last week, recovering from losses initially but facing downward pressure soon after. Despite a 0.9% loss, AXS managed to rebound from an eight-day low of $7.236 to close the week on a positive note.
With an RSI of 55.73, AXS still has room for growth. To sustain an upward push, the bulls need to break resistance at the upper Bollinger Band at $8.348. A move above the April 24 highs at $8.4 could pave the way for reclaiming a yearly peak of $13.5.
On the downside, AXS must defend the support at the 20-day EMA around $7.60 to prevent a drop below $7, with the lower Bollinger Band at $6.882 providing immediate support in case of further decline.
TIA Reaches One-Month High Above $11
Celestia (TIA) was among the few gainers last week, enjoying three consecutive days of gains at the beginning of the week. After a 26.2% spike from May 26 to 28, TIA reclaimed $11 for the first time since April before facing resistance from bearish pressure.
Although TIA dipped below $11 and the 21-week EMA briefly, it managed to close the week above $11. Currently trading at $11.10, TIA needs to maintain support at the 23.6% Fibonacci retracement level of $11 to avoid a shift towards bearish territory. The immediate obstacle to further price increases is at $11.97.
As the crypto market continues to evolve, these selected cryptocurrencies offer opportunities for traders and investors to monitor and potentially benefit from their performances.
