This week, crypto’s world market cap dropped from $1.41 trillion to $1.38 trillion. Nevertheless, a number of property bucked the development, whereas others succumbed to the bears. Right here’s a take a look at Kaspa (KAS), Render (RNDR) and Cardano (ADA).
Kaspa (KAS)
Kaspa is among the greatest gainers this week, sitting third on the checklist of prime weekly gainers among the many 100 largest crypto property on CoinGecko. Launched final yr, KAS has continued to attain spectacular heights over the previous months, with an encouraging momentum recorded not too long ago.
The upsurge this week started on Nov. 13 following a drop to $0.0780. The asset witnessed a fast rebound from this decline, registering back-to-back every day successful classes from Nov. 14 to Nov. 18. With a 1.55% improve as we speak, Kaspa seems to be to shut the day with its sixth consecutive intraday win.
Nevertheless, the largest worth bounce occurred on Nov. 15, when the asset recorded a 30% improve, one among its greatest intraday surges. The uptrend was bolstered by prolonged assist from notable crypto exchanges, together with Uphold and Binance. On Nov. 16, Binance unveiled plans to launch perpetual contracts for KAS.
The asset sustained the uptrend till it hit a brand new all-time excessive (ATH) of $0.1468 as we speak, per knowledge from CoinGecko. Regardless of a slight 2.49% drop from the ATH, Kaspa has retained its momentum. Presently, altering palms at $0.1428, the asset is buying and selling manner above the 50-day EMA ($0.0723) and the 200-day EMA ($0.0446).
Render (RNDR)
Render additionally made some important strikes this week, with a powerful 40% achieve since Nov. 13. The asset’s resurgence is nothing in need of commendable, having recovered from two consecutive shedding classes firstly of the week, with a 6.64% drop on Nov. 13 and Nov. 14.
RNDR recovered these misplaced values with a large 26.2% improve on Nov. 15. This surge was triggered by the bullish worth actions recorded within the broader crypto market, as Bitcoin surged to a brand new yearly excessive of $37,980. Render rode on the rally, posting extra substantial positive factors.
Because the surge spilled into Nov. 16, RNDR emerged as the highest gainer among the many greatest 100 property by market cap. Amid the uptrend, the asset surged to a 21-month excessive of $3.59. The final time Render noticed this worth stage was in February 2022.
RNDR trades for $3.46, up 10% over the previous 24 hours. The asset is the third-biggest gainer this week, with a 40.4% improve. Render is on a journey to leverage the continued rally to get well the $4 territory. Nevertheless, the asset would want to conquer the pivotal resistance factors at $3.526, $3.734 and $3.999.
Cardano (ADA)
Cardano is among the property that succumbed to bearish stress this week, regardless of fervent resilience from the bulls. ADA is down by a meager 1.9% from the $0.3835 worth it began this week with. The start of the week was not favorable for the asset, with a 6.94% drop on Nov. 13.
Nevertheless, ADA mounted a comeback, holding off the bears on Nov. 14 when the remainder of the market was down. The next day, Cardano recorded a powerful 5.84% intraday achieve. The asset ultimately broke above the $0.40 stage on Nov. 16 for the primary time since April, surging to a excessive of $0.4095 earlier than going through immense resistance.
Since dropping from the $0.4095 excessive, ADA has continued to defend the assist at $0.3488. The asset rallied to $0.3791 as we speak however witnessed one other roadblock, main to one other decline. To beat the much-coveted $0.40 zone, ADA should overcome the Fibonacci stage at 1, at the moment stationed at $0.4183.