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

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As a seasoned researcher with years of experience in the dynamic world of crypto, I’ve witnessed numerous bull runs and bear markets. This recent surge has been nothing short of spectacular, with Bitcoin breaking the $100,000 barrier and altcoins like JASMY and QNT riding its wave.

Over the weekend, the value of the cryptocurrency market experienced a particularly optimistic period, causing the overall crypto market capitalization to skyrocket by an impressive $220 billion, resulting in a new all-time high of approximately $3.8 trillion.

The significant increase was primarily fueled by Bitcoin (BTC) breaking through the $100,000 barrier. Yet, numerous other cryptocurrencies cashed in on this surge, recording substantial growth.

Based on impressive showings the previous week, we’d like to highlight our recommended cryptocurrencies worth monitoring this current week:

JASMY claims 2-year peak

Last week, JasmyCoin (JASMY) significantly profited from the upward trend. The positive movement started on November 27 and culminated in a remarkable 69% increase by the end of the week. Here’s a summary:

Presented by Jasmy Corporation for their Ethereum-powered Jasmy network, JASMY focuses on addressing data security issues. Functioning as an ERC-20 token on the Ethereum blockchain, it serves this purpose.

On December 3, the token experienced its biggest single-day increase in nearly 10 months, jumping by 27.49%. The following day saw a small dip, but on December 5, the asset went on to achieve an even more impressive rise of 45%. This ultimately led to a two-year high of $0.0590.

Currently, the value of JASMY is testing the level around $0.047, a significant drop from its previous levels. Additionally, its Relative Strength Index (RSI), which measures the speed and change of price movements, has dipped down to 68.

To protect against larger declines, it’s crucial that the value of the asset remains above $0.3912. If it falls below this point, the next potential support level is at the 20-day moving average, which stands at $0.03178.

QNT rallies 67% 

To start off the week, QNT followed the upward trend of Bitcoin, resulting in a significant increase of 67% for the week.

This marked one of its most bullish weekly performances this year.

As an analyst, I would express it as follows: In my role, I identify QNT as the ERC-20 token associated with the Quant blockchain initiative. This token plays a crucial part in enhancing compatibility across various networks through the Overledger Network, which serves as its backbone.

In the current market surge, the token stands out as one of the top performers. Since early November, Quant has been steadily increasing, forming an upward channel. The buyers have been strategically using the lower boundary of this channel to prevent a dip below $96 on December 1st.

To maintain its upward trajectory and continue the trend, Quant (QNT) needs to stay above the Fibonacci 0.618 level at $126.3. If it does, it will remain within its channel. Should the rally pick up again, a break above $170.7 might initiate a fresh, powerful phase of growth.

Overledger bridges blockchain technologies with conventional systems, all without necessitating any underlying infrastructure alterations. It empowers the development of cross-network applications, known as mDApps, ensuring effortless communication between different platforms.

Designed for industries including finance, healthcare, and logistics, Quant offers applications such as handling cross-border transactions, enhancing supply chain visibility, and managing digital identities.

Standing apart due to collaborations with Oracle and Hyperledger, Quant excels at merging blockchain technology with regulated sectors of the industry.

MEW consolidates below $0.01

Despite the prevalent uptrend in the market last week, cat in a dog’s world (MEW) largely consolidated. However, the meme coin managed a 2.5% weekly gain.

Debuted in March, MEW represents a feline-focused meme token built on the Solana platform. In an industry largely ruled by canine-themed tokens, MEW distinguishes itself. Its unique feature lies in the burning of 90% of its total supply upon launch, attracting attention and intrigue.

In May, the project teamed up with LOCUS Animation Studios to develop a 3D animated series, adding depth to the storyline and expanding its fanbase. Almost immediately after its release, MEW was reported to have generated $150 million in transactions and gained substantial popularity within the Solana network.

Starting last week, MEW saw a noteworthy increase of 4.62% by December 1st. However, things took a turn for the worse since then. The token plummeted 7.32% over two days, testing the $0.0083 low once more, and subsequently stabilized around $0.009 after a minor recovery.

The MACD indicates a downward trend for MEW, suggesting it needs a change in direction to become positive again. This week, MEW must rise above the Pivot point at $0.010016 to shift its trajectory bullish. Beyond this level, the initial resistance will be encountered at $0.01204, and another obstacle may appear at $0.01329.

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2024-12-08 15:46