Top cryptocurrencies to monitor this week: JASMY, QNT, MEW

The crypto market recently experienced a highly bullish phase, resulting in a surge of $220 billion in the global crypto market cap. This brought the valuation to a record-high of $3.8 billion as of Sunday.

Bitcoin (BTC) played a significant role in driving this upward trend, surpassing the $100,000 milestone. However, several altcoins also benefited from the momentum and achieved substantial gains.

Based on their notable performances last week, here are our top cryptocurrency picks to watch this week:

JasmyCoin (JASMY) reached a two-year peak

JasmyCoin (JASMY) was a major beneficiary of the uptrend last week. It continued to gain momentum from November 27 and closed the week with an impressive 69% gain. Refer to the chart below.

JASMY 1D chart | Source: cryptopeas.com

JASMY was introduced by Jasmy Corporation for the Jasmy platform, which is based on Ethereum. It aims to address concerns regarding data security and operates as an ERC-20 token on the Ethereum blockchain.

On December 3, the token experienced a significant intraday gain of 27.49%, the largest in nearly 10 months. Although there was a slight pullback the following day, the asset saw a remarkable 45% rise on December 5, eventually reaching a two-year peak of $0.0590. JASMY has since dropped to retest $0.047. Its relative strength index (RSI) has also declined to 68.

To avoid steeper drops, the asset must maintain a support level of $0.3912. If it goes below this level, the next support is at the 20-day moving average (MA) of $0.03178.

QNT rallies by 67%

Quant (QNT) also began the week on a bullish note, benefiting from Bitcoin’s uptrend and recording a substantial weekly gain of 67%.

This performance marked one of the most bullish weeks for QNT this year. Refer to the chart below.

QNT 1D chart | Source: cryptopeas.com

QNT is the ERC-20 utility token of the Quant blockchain project, designed to enhance interoperability among different networks through its Overledger Network.

The token has been one of the best performers during the ongoing bull run. Since early November, Quant has been following an ascending channel, with the bulls using the lower trendline to prevent a drop below $96 on December 1.

As the bullish momentum weakens, QNT must maintain a level above the Fibonacci 0.618 retracement at $126.3 to stay within the channel and sustain the uptrend. If the surge continues, a push above $170.7 could signify the beginning of a new explosive phase.

Overledger enables the connection between blockchains and traditional systems without requiring changes to existing infrastructure. It supports the creation of multi-chain applications (mDApps) for seamless interaction across networks.

Targeting sectors such as finance, healthcare, and supply chain, Quant facilitates use cases like cross-border payments, supply chain transparency, and digital identity management. With partnerships including Oracle and Hyperledger, Quant stands out for its integration of blockchain with regulated industries.

MEW consolidates below $0.01

Despite the overall market uptrend last week, cat in a dog’s world (MEW) mostly consolidated. However, this meme coin managed to gain 2.5% for the week.

Refer to the chart below.

MEW 1D chart | Source: cryptopeas.com

Launched in March, MEW is a cat-themed Solana-based meme coin that stands out in a market dominated by dog-themed tokens. It gained attention by burning 90% of its supply at launch.

In May, the project partnered with LOCUS Animation Studios to create a 3D animated series, further enhancing its narrative and expanding its fanbase. Within hours of its launch, MEW reportedly achieved $150 million in transaction value and gained significant traction in the Solana ecosystem.

Starting on December 1, MEW began the week with an impressive 4.62% gain, but its performance declined from there. The token experienced a 7.32% drop in two days, retesting the low of $0.0083, and then consolidating at $0.009 after a slight recovery.

Its moving average convergence divergence (MACD) indicator also indicates a bearish trend, requiring intervention to turn bullish. This week, MEW will need to recover above the Pivot level at $0.010016 to regain bullish momentum. If it surpasses this level, the first resistance will be at $0.01204, with another obstacle at $0.01329.

Disclosure: This article is not investment advice. The content and materials provided on this page are for educational purposes only.