DOGE, APE, DIA: Top cryptocurrencies to watch this week

The global crypto market cap surged by $140 billion, escalating 6.3% to conclude the week above a two-month peak of $2.35 trillion.

Bitcoin (BTC) spearheaded the recovery, exceeding $68,000 and triggering a robust rally across the altcoin market.

Here's an analysis of assets that capitalized on this rebound campaign and their respective performances:

DOGE Records Consecutive Daily Gains

Dogecoin (DOGE) emerged as one of the primary beneficiaries of the market recovery last week, experiencing seven consecutive days of gains.

DOGE 1D chart – Oct. 20 | Source: crypto.news

The meme coin ended the week at a four-month high of $0.144, marking a 27% gain. This represented Dogecoin's strongest weekly performance since late February during the broader meme coin rally.

However, the recent uptrend has encountered resistance, with the Dogecoin CCI reaching 247. If bearish pressure intensifies this week, DOGE must maintain a price above $0.137 to avoid falling below the 20-day SMA support at $0.116.

APE Surges 54% on Mainnet Launch

Despite underperforming throughout most of last week, ApeCoin (APE) orchestrated a last-minute rally, closing the week at $0.87 with a 20% gain.

APE 1D chart – Oct. 20 | Source: crypto.news

This surge was primarily driven by the launch of ApeChain, the project's blockchain, on October 19th.

After surpassing $0.92, APE encountered significant resistance at the upper Bollinger Band. Nevertheless, the uptrend continued, with APE soaring by 54% to surpass the $1 threshold for the first time in four months.

The Relative Strength Index (RSI) has reached overbought territory at 85, indicating that the rally may face exhaustion without additional buying pressure. A drop below $1 could trigger a more pronounced decline.

DIA Climbs to 32-Month Peak

DIA (DIA) started the week with bearish momentum but rallied to outperform the majority of assets. After a period of consolidation, DIA spiked by 42% on Oct. 17th, regaining $1 for the first time in two years.

DIA 1D chart – Oct. 20 | Source: crypto.news

Following an 8% correction the subsequent day, DIA resumed its upward trend, gaining an additional 14% on Oct. 19th. This enabled it to close the week with a 44% gain, trading at a high not seen in 32 months. Its monthly volume has reached a record high of 716 million DIA.

Meanwhile, the token's +DI has surged to 40.28, confirming strong bullish momentum. The Average Directional Index (ADX) at 50.19 suggests that the rally is particularly robust. However, this could also indicate that the rally is overextended, with a potential correction on the horizon.