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 some of the top cryptocurrencies to watch this week, including popular names like Zcash, Pi Network, Aster, Sei.
Zcash (ZEC)
Zcash, the biggest privacy token in the crypto industry, will be in the spotlight this week because of the 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 event, which is expected to happen this month. Halving is an event that reduces the block rewards by half.
Technically, the Zcash token will be in the spotlight as investors watch whether it will move to the distribution phase of the 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.
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 the recent purchases by Changpeng Zhao, the richest person in the industry.
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, a top layer-1 platform, has been under pressure in the past few months, moving 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 go on for 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 is made up of two descending and 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 will be at $0.50.
Pi Network price chart | Source: TradingView
The other top cryptocurrencies to watch this week will be Zebec Network (ZBCN), Starknet (STRK), Chainbase, and Boba Network.
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