Top 5 Cryptocurrencies to Watch This Week

Bitcoin rebounds after a near-dip, and altcoins like Toncoin, Render, Worldcoin, and RUNE see gains with potential for further growth.
Top 5 Cryptocurrencies to Watch This Week

Key Insights

  • Bitcoin is attempting to recover after a near fall below $60,000, while the Fear and Greed Index indicates a slightly greedy market sentiment.

  • Toncoin is a top performer with a 20.39% increase last week. It has the potential to reach $7.70 and further rise to $8.53.

  • Render gained 18.5% last week but faces resistance at $11. While a short-term dip is possible, it is likely to rebound and reach above $14.

  • Worldcoin price increased 12% last week and is positioned for a potential 145% rally to $14.20

  • RUNE price rose 11.14% last week but faces rejection at $6. A reversal is likely, with possible price targets between $9.86 and $11.50.

Bitcoin trades at around $61,000 at the time of writing and is attempting to claw its way up from a close shave with falling below $60,000.

For the first time in days, the crypto market is starting to turn green and the fear and greed index shows a slightly greedy reading of 51, indicating that investors may be less likely to bet against crypto prices in the coming months.

<div class="paragraphs"><p>The crypto fear and greed index</p></div>

The crypto fear and greed index

With that being said, this week looks promising already, and here are a few cryptocurrencies to keep an eye out for, before the action begins.

1. Toncoin ($TON)

This seems like an obvious choice, considering the massive strides The Open Network, Telegram and even Toncoin itself have been making these past few months.

We have the upcoming launch of telegram-affiliated Notcoin ($NOT) incoming by 16 May, and the hype around the TON ecosystem has been massive so far.

<div class="paragraphs"><p>Toncoin’s performance</p></div>

Toncoin’s performance

According to CoinMarketCap, Toncoin has risen by a staggering 20.39% over the last week, making it the best performer among the top 100 cryptocurrencies on the market.

According to the charts, we can already see this growth in the cryptocurrency, after a successful rebound off of the $5.58 support on 9 May.

<div class="paragraphs"><p>Toncoin</p></div>

Toncoin

Toncoin now has a reclaim of its previous all-time high of around $7.7 in view, and we only need to see a break above the $7.33 - $7.7 range to see this happen.

The Fibonacci retracement tool shows that the $8.53 level is the next available price target, which would be a 25% price increase from current price levels.

2. Render ($RNDR)

This has been another massively successful cryptocurrency so far, with CoinMarketCap data showing that it is up by around 18.5% over the last week, with a current price of $10.8.

<div class="paragraphs"><p>Render’s current price</p></div>

Render’s current price

According to the charts, Render has indeed been highly bullish for the past week. However, there seems to be some trouble with breaking above $11.

Render entered a price reversal from the $11.58 price level on 10 May, and looks like it might be about to plunge.

<div class="paragraphs"><p>Render’s price action</p></div>

Render’s price action

However, the bulls are likely holding the fort at around $10.54, which used to be the previous local high around 9 April.

Overall, Render might see some small-scale bearish action. However, a break below the $10.54 - $9.41 level seems unlikely, and Render is set to rebound pretty soon, retake the $11 level, and make a new above $14.

3. Worldcoin ($WLD)

Things look promising for Worldcoin as well, considering its 12% price increase from the last week.

<div class="paragraphs"><p>Worldcoin’s current price</p></div>

Worldcoin’s current price

According to the charts, it is even safe to argue that Worldcoin might be at the cusp of some fiercely bullish price action.

<div class="paragraphs"><p>Worldcoin’s price action</p></div>

Worldcoin’s price action

We can see from the chart above, that the cryptocurrency trades on top of an ascending trendline, and is currently attempting a rebound, before a medium to long-term rally to the upside.

If all goes well and the bulls keep up their momentum, we might be poised to see the cryptocurrency rally further upwards to $14.2, in an impressive 145% price increase from current price levels.

4. Arweave ($AR)

Arweave, like the others, is also incredibly bullish and has been for the last week.

CoinMarketCap data shows that the cryptocurrency is up by around 12.6% over the last week, after successfully claiming the $40 mark.

<div class="paragraphs"><p>Arweave’s price</p></div>

Arweave’s price

According to the charts, we can see that Arweave currently trades within a wedge formation, and already attempted an unsuccessful breakout on 10 May.

<div class="paragraphs"><p>Arweave’s price action</p></div>

Arweave’s price action

We can also see that the cryptocurrency is now rising fast, and is on the verge of a reattempt to break above the $45 - $47.5 price range.

If this week turns out to be the one, we might see the cryptocurrency attempt to retake the $51 price level, last seen in January 2022.

5. THORChain ($RUNE)

THORChain or $RUNE is no exception to the rule. The cryptocurrency has been up by around 11.14% over the last week, as it attempts a break above the $6 range.

<div class="paragraphs"><p>THORChain’s price</p></div>

THORChain’s price

According to the charts, RUNE faced quite a bit of bearish rejection between the $6.47 and $7 range and is showing signs of a reversal.

But things aren’t as bearish as they look.

<div class="paragraphs"><p>RUNE’S price action</p></div>

RUNE’S price action

The cryptocurrency might reverse further from here. However, a break below $4.5 or even $5.2 seems unlikely.

The cryptocurrency will likely rebound off any of these supports, and reattempt a likely successful break above the $6.47 and $7 range.

The price targets for RUNE include anywhere between $9.86 and $11.5.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

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