This week, crypto’s global market cap dropped from $1.41 trillion to $1.38 trillion. However, several assets bucked the trend, while others succumbed to the bears. Here’s a look at Kaspa (KAS), Render (RNDR) and Cardano (ADA).
Kaspa (KAS)
Kaspa is one of the biggest gainers this week, sitting third on the list of top weekly gainers among the 100 largest crypto assets on CoinGecko. Launched last year, KAS has continued to reach impressive heights over the past months, with an encouraging momentum recorded recently.
The upsurge this week began on Nov. 13 following a drop to $0.0780. The asset witnessed a quick rebound from this decline, registering back-to-back daily winning sessions from Nov. 14 to Nov. 18. With a 1.55% increase today, Kaspa looks to close the day with its sixth consecutive intraday win.
However, the biggest price jump occurred on Nov. 15, when the asset recorded a 30% increase, one of its biggest intraday surges. The uptrend was bolstered by extended support from notable crypto exchanges, including Uphold and Binance. On Nov. 16, Binance unveiled plans to launch perpetual contracts for KAS.
The asset sustained the uptrend until it hit a new all-time high (ATH) of $0.1468 today, per data from CoinGecko. Despite a slight 2.49% drop from the ATH, Kaspa has retained its momentum. Currently, changing hands at $0.1428, the asset is trading way above the 50-day EMA ($0.0723) and the 200-day EMA ($0.0446).
Render (RNDR)
Render also made some significant moves this week, with an impressive 40% gain since Nov. 13. The asset’s resurgence is nothing short of commendable, having recovered from two consecutive losing sessions at the start of the week, with a 6.64% drop on Nov. 13 and Nov. 14.
RNDR recovered these lost values with a massive 26.2% increase on Nov. 15. This surge was triggered by the bullish price movements recorded in the broader crypto market, as Bitcoin surged to a new yearly high of $37,980. Render rode on the rally, posting more substantial gains.
As the surge spilled into Nov. 16, RNDR emerged as the top gainer among the biggest 100 assets by market cap. Amid the uptrend, the asset surged to a 21-month high of $3.59. The last time Render saw this price level was in February 2022.
RNDR trades for $3.46, up 10% over the past 24 hours. The asset is the third-biggest gainer this week, with a 40.4% increase. Render is on a journey to leverage the ongoing rally to recover the $4 territory. However, the asset would need to conquer the pivotal resistance points at $3.526, $3.734 and $3.999.
Cardano (ADA)
Cardano is one of the assets that succumbed to bearish pressure this week, despite fervent resilience from the bulls. ADA is down by a meager 1.9% from the $0.3835 value it started this week with. The beginning of the week was not favorable for the asset, with a 6.94% drop on Nov. 13.
However, ADA mounted a comeback, holding off the bears on Nov. 14 when the rest of the market was down. The following day, Cardano recorded an impressive 5.84% intraday gain. The asset eventually broke above the $0.40 level on Nov. 16 for the first time since April, surging to a high of $0.4095 before facing immense resistance.
Since dropping from the $0.4095 high, ADA has continued to defend the support at $0.3488. The asset rallied to $0.3791 today but witnessed another roadblock, leading to another decline. To conquer the much-coveted $0.40 zone, ADA must overcome the Fibonacci level at 1, currently stationed at $0.4183.
