Top cryptocurrencies to watch this week: MOG, KAS, FET

The bearish sentiment prevalent in the cryptocurrency market extended throughout June. Last week, Bitcoin (BTC) fell below the $59,000 mark for the first time in eight weeks.

There were widespread losses across the market.

Some assets went against the trend, recording new all-time highs. The selective rally was not enough to prevent the overall cryptocurrency market capitalization from falling by 4.6% to $2.24 trillion.

Based on last week’s strong performance, here are the top cryptocurrencies to watch this week:

MOG, KAS and FET prices – June 30 | Source: Santimento

MOG reaches a new ATH

MOG Coin (MOG) has witnessed a bullish week. Dubbed the internet’s first cultural currency, the meme coin began the week with the same downtrend as the broader market, plunging 11.07% on June 23.

MOG increased by 45.32% on June 24 and 25 due to increased social volume. Whale Insider confirmed that the rally solidified the token’s position as the largest cat-themed meme coin by market capitalization.

On June 29, MOG hit a new all-time high of $0.00002123, following growing interest.

The asset closed the week at $0.0000018355, up 67%. Its Commodity Channel Index (CCI) is currently at 130.83, suggesting that the asset is overbought and a pullback may be imminent.

Kaspa enters price discovery after new ATH

Caspa (KAS) has also been on an uptrend last week. With a weekly gain of 25%, KAS has performed less bullishly than MOG.

However, the community-based asset PoW has entered a price discovery phase after surpassing its previous all-time high of $0.1939 on June 30. This rally was partly due to relationships of Marathon Digital mining $16 million in KAS.

While MOG fell after its new ATH, Kaspa continued to hit new record highs, entering the new week with this bullish momentum up 8.96% in the last 24 hours.

As a result, KAS transformed PEPE into the 23rd largest cryptocurrency, with a market cap of $4.725 billion.

However, caution is advised as the new week begins. In particular, Kaspa’s The daily relative strength index (RSI) has entered overbought territory, currently sitting at 71.76.

This suggests an impending retracement as buying pressure reduces. The last time KAS became oversold, its price fell 31% in two weeks.

FET drops 27% in three days

Recover.ai (FET) is also among our top cryptocurrencies to watch this week. The Ethereum token appeared to be seeing similar bullish momentum, but bearish pressure erased most of its gains towards the end of the week.

From June 23-26, FET rose 26% from $1,472 to a nearly 3-week high of $1,860, as AI-focused tokens saw a massive uptrend.

However, this peak coincided with the upper Bollinger band, a region that presented strong resistance from bears.

Fetch.ai, a decentralized machine learning platform for applications such as asset trading and the gig economy, saw its corresponding coin fall from this high. Buying pressure was not enough to breach this resistance, resulting in massive declines over the next three days.

The FET fell 27% from June 27 to June 29. It ultimately ended the week with a loss of 8.56%. Despite the attempted rebound, the asset remains below the 20-day SMA. While this may indicate a bearish trend, FET’s MACD line remains above the signal line, suggesting bullish momentum. The market remains undecided at the moment.

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