Top cryptocurrencies to watch this week: MOG, KAS, FET

Bearish Market Sentiment Persists in Cryptocurrency, but Certain Assets Defy Trend

The bearish sentiment that has gripped the cryptocurrency market throughout June continued last week, with Bitcoin (BTC) falling below $59,000 for the first time in eight weeks, triggering widespread losses across the market.

However, amidst the market downturn, a few assets bucked the trend, recording new all-time highs. Selective bullishness proved insufficient to prevent the overall crypto market cap from declining by 4.6% to $2.24 trillion.

Based on their strong performances last week, the following cryptocurrencies warrant attention this week:

MOG: New All-Time High and Overbought

MOG Coin (MOG) enjoyed a bullish week, starting with a decline but rebounding sharply on June 24th and 25th due to increased social volume. It reached a new all-time high of $0.00002123 on June 29th, driven by growing interest. MOG closed the week at $0.000018355, with a 67% gain. However, its Commodity Channel Index (CCI) suggests it is overbought, indicating a potential pullback.

Kaspa: Enters Price Discovery After Breaking ATH

Kaspa (KAS) also saw an uptrend last week, reaching a new all-time high of $0.1939 on June 30th. This rally was partly attributed to reports of Marathon Digital mining $16 million in KAS. Kaspa continued to reach new record prices, entering the new week with an 8.96% increase over the past 24 hours. However, its relative strength index (RSI) has entered overbought territories, suggesting a possible retracement.

FET: Rebounding After Steep Decline

Fetch.ai (FET) initially experienced bullish momentum, rising 26% from June 23rd to 26th. However, this peak was met with strong resistance, leading to a sharp decline over the following three days. FET dropped by 27% from June 27th to 29th. It ultimately closed the week with an 8.56% loss. Despite a rebound effort, FET remains below the 20-day SMA. While this indicates bearishness, FET's MACD line remains above the signal line, suggesting potential upside.