The crypto market had a mixed performance last week, with Bitcoin remaining under pressure and top altcoins like Zcash, Internet Computer (ICP), Monero (XMR), and Decred soaring. This article explores the top cryptocurrencies to watch this week, including popular names such as Zcash, Pi Network, Aster, and Sei.
Zcash (ZEC)
Zcash, the largest privacy token in the crypto industry, will be in the spotlight this week amid its recent rally. It has jumped from below $50 in October to a record high of $740. This rally has transformed it into the 12th-biggest cryptocurrency with a market capitalization of over $12 billion.
Zcash, which an analyst described as an “encrypted Bitcoin”, has been rallying since Grayscale launched a fund tracking it. Since then, it has gone viral on social media, with Arthur Hayes predicting that it will hit $1,000 in the coming weeks.
Therefore, the Zcash price will be in the spotlight this week as investors focus on the bull run and whether it has more to go. Also, the token will likely react to the upcoming halving, which is expected this month. Halving is an event that halves the block rewards.
Technically, the Zcash token will be in the spotlight as investors watch whether it moves into the distribution phase of Wyckoff Theory.
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Aster (ASTER)
Aster, a crypto project backed by Changpeng Zhao, has moved from obscurity into the biggest player in its industry. It has become the biggest perpetual futures exchange, handling over $306 billion in volume in the last 30 days. As a result, it has flipped Hyperliquid, which handled $293 billion, and Lighter, which processed tokens worth over $273 billion.
The Aster price has been highly volatile in the past few weeks. It was trading at $1.0972 today, up sharply from the all-time low of $0.8200. This rebound was triggered by recent purchases by Changpeng Zhao, the industry’s assumed richest person.
The Aster token price will be in the spotlight this week as the network unlocks 200 million tokens worth over $218 million. It will also react to any potential Aster news.
Sei (SEI)
Sei, one of the top layer-1 platforms, has been under pressure over the past few months, falling from a high of $0.388 in June to $0.1800 today.
This token will be in the spotlight this week because it will implement a large token unlock later this week. Precisely, it will unlock 121 million tokens worth $21 million on Thursday. 62.50% of Sei have now been unlocked, a process that will continue over the next few years.
SEI price will also be in focus as it has formed an inverse cup-and-handle on the daily chart. It is now in the handle section, meaning that a retreat is possible.
Pi Network (PI)
Pi Network will also be in the spotlight for technical reasons. The chart below shows that it has been forming a falling wedge pattern. This pattern consists of two descending, converging trendlines and often leads to a strong breakout.
Therefore, there is a likelihood that it will stage a strong comeback later this week. If this happens, the next key resistance level to watch is $0.50.
The other top cryptocurrencies to watch this week will be Zebec Network (ZBCN), Starknet (STRK), Chainbase, and Boba Network.
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