Markets
Biggest Cryptocurrency Gainers of the Week
Last week was a mix of everything the crypto market has to offer. Among the best performing altcoins this week were Akash Network (AKT), Kaspa (KAS) and Brett (BRETT). This is a combination of an Artificial Intelligence (AI) token, a meme coin, and a blockDAG framework asset.
BeInCrypto highlights that while these tokens have rallied this week, here’s what you can expect from them going forward.
Akash Network marks a sharp increase
The Akash Network price increase was unexpected, capitalizing on positive momentum in the broader market. AKT rose 33% last week, going from $2.6 to $3.6.
This surge has propelled the altcoin to a multi-week high, although it remains focused on breaking past the $3.7 mark to potentially reach $4.0. A further recovery appears likely if the crypto market’s uptrend persists.
See more information: 11 Cryptocurrencies to Add to Your Portfolio Ahead of the Altcoin Season
AKT Price Analysis. Source: Trading View
However, if AKT fails to break the $3.7 barrier, its price could drop to $3.38 or lower, nullifying the current bullish outlook.
Kaspa leaves a mark
Given its sustained uptrend, Kaspa price could potentially reach a new all-time high next month. The uptrend that began in early May continues, with KAS currently trading at $0.177, positioning it to capitalize on this momentum. In the last seven days alone, the altcoin has marked an increase of 22%.
The current all-time high is $0.193 and for Kaspa to break above this, it must first break above the $0.184 level. Converting this resistance into support could provide the necessary momentum for KAS to set a new ATH.
Read more: Kaspa (KAS) Price Prediction 2024/2025/2030
However, having failed to close above this resistance three times in the last four months, history could repeat itself. If this occurs, KAS could consolidate above $0.162.
Brett, the unexpected star
Brett’s price has seen a remarkable performance. Built on Coinbase’s BASE chain, the meme coin has witnessed substantial gains this week. In early June, Brett surged over 132% before correcting. Last week, that rally revived as the meme coin outperformed many major coins to record a 14% rally.
BRETT’s all-time peak is $0.195, and there is speculation that the meme coin could surpass that mark. Given the continued enthusiasm and demand for this altcoin, it could continue to prosper.
See more information: 4 cryptocurrencies that could reach new highs in July 2024
However, considering the history volatility of meme coins, the possibility remains that this breakout attempt could fail. Therefore, a potential decline to $0.140 cannot be ruled out, and a drop below this level would challenge the bullish outlook.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyIt is Disclaimers have been updated.