The post Top cryptocurrencies to watch this week: SOL, BONK, FTM appeared on BitcoinEthereumNews.com.

Top cryptocurrencies demonstrated a robust recovery last week. The global market cap surged by 7% to reach $2.41 trillion. This increase reflected a $160 billion gain in valuation, driven by significant rises in most of the leading cryptocurrencies.  Here are our picks for the top cryptocurrencies to watch this week:  SOL, BONK and FMT prices – May 19 | Source: Santiment SOL retests 1-month high Solana (SOL) emerged as one of the top cryptocurrencies last week, despite experiencing range-bound movements initially. It began the week below the critical $150 threshold and struggled to show strength amid bearish conditions in the broader market. Following Bitcoin’s (BTC) significant 7.52% gain on May 15 in response to the U.S. CPI data release, the broader market experienced an impressive uptrend. Solana capitalized on this momentum, achieving an 11.61% upswing. It ultimately broke above the resistance at the upper Bollinger Band on the daily chart. When trading platform Robinhood launched a Solana staking program in Europe, the coin closed May 15 at a $158 price, looking to ride on the existing uptrend for more substantial gains.  The asset recorded three consecutive intraday gains from May 16 to 18, breaching the much-coveted $170 territory to retest a one-month high of $176. Solana closed last week with a 21% uptick, making it one of the best-performing assets within this period.  BONK breaches 50-day EMA Bonk (BONK) also began last week with a bearish consolidation following the downtrend observed in the previous week. But the meme coin capitalized on the market resurgence on May 15 to record an 8.42% daily gain, closing the day at $0.00002153.  This upswing led to a confident breach of the 50-day EMA, which BONK has been battling to surpass since May 10. The crypto token soared to a 10-day high of $0.00002648 the…

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Filed under: News - @ May 19, 2024 4:10 pm