The post 3 top cryptocurrencies to watch this week appeared on BitcoinEthereumNews.com.

The global crypto market staged a recovery last week, posting a 2.79% increase and closing with a market capitalization of $2.21 trillion.  This surge added $60 billion to the market’s overall valuation. While Bitcoin (BTC) spearheaded the rally, several altcoins also played a role in the market’s recovery. Below are some of the standout performers from last week: SUI rallies 28% Sui (SUI) had a strong showing last week, surging 28% from $1.75 to close at $2.24. Its most bullish moments came up during the market recovery on Oct. 11 and 12, during which it spiked 21%. SUI 1D chart – Oct. 13 | Source: crypto.news Sui dropped 5.60% on Oct. 9 despite a bullish announcement involving Circle’s USDC. Currently trading at $2.2266, SUI is now above the upper boundary of the Keltner Channel at $2.2186, which indicates potential overbought conditions.  This suggests that while the momentum is strong, a period of consolidation or a minor correction could follow this week unless strong buying pressure persists. Volume remains high, so bulls could leverage this. Meanwhile, the Aroon Up is at 100%. In contrast, Aroon Down at 28.57% indicates a weak downtrend. However, if the Aroon Down rises this week, this may indicate growing bearish pressure. In this case, SUI could find support at $1.8286. The Sui token was created by Mysten Labs, a blockchain infrastructure company founded by engineers who previously worked at Meta Platforms on the Diem (formerly Libra) project. The company was co-founded by notable figures including Evan Cheng, Sam Blackshear, Avery Ching, and George Danezis, all of whom contributed to Meta’s blockchain and cryptocurrency efforts before transitioning to build Sui. CHZ retests 4-month high Chiliz (CHZ), a cryptocurrency that powers the Chiliz blockchain, leveraged the broader market movements last week to maintain its rounded bottom structure, as…

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Filed under: News - @ October 13, 2024 1:01 pm