Last week saw a significant surge in the global crypto market, with the total market cap reaching $2.85 trillion by the end of the weekend. This bullish momentum was led by Bitcoin (BTC) following Donald Trump’s victory in the U.S. presidential election. BTC broke through its previous all-time high, approaching the $80,000 mark and entering a price discovery phase.
Altcoins also saw substantial gains during this period, contributing to the overall increase in market valuation. Here are some of the top performers from last week that investors should keep an eye on.
Ethereum (ETH) was among the standout performers, reclaiming multi-month highs and breaching the $3,000 mark. On November 6, ETH surged by 12.49%, marking its largest intraday gain in three months. The coin closed the week above $3,100, signaling a potential pullback to the $2,981 support level if momentum wanes. Despite being in an overbought region, ETH could still see further growth if bulls maintain control, with the next major resistance at $3,396.
Shiba Inu (SHIB) also experienced a notable spike last week, rallying by 21% in its most bullish weekly run in over a month. SHIB broke through the $0.00002 psychological resistance level, closing the week at $0.00002050. The meme coin’s MACD recorded a bullish crossover, indicating the potential continuation of the uptrend. SHIB’s next major hurdle stands at the June peak of $0.00002622, with immediate support at the 23.6% Fibonacci levels around $0.00002157.
Sui (SUI), the native token of the layer-1 blockchain of the same name, reached a new all-time high of $3.14, surpassing its previous peak of $2.36. The asset spiked by 20% on November 9, breaking into the $3 price territory for the first time. SUI has been on an upward trend, with higher lows and a Stochastic Momentum Index indicating approaching overbought levels. Investors should monitor the $2.75 support level in case of a pullback.
Overall, the cryptocurrency market saw significant gains last week, with top performers like ETH, SHIB, and SUI making notable strides. Investors should remain vigilant and closely monitor these assets for potential opportunities and risks in the coming weeks.
