CandleFocus

HEGE, SOL, SAFE: Top cryptocurrencies to watch this week

Author: Content Editor
Last week, the global crypto market experienced a correction, leading to a loss of $70 billion and bringing the market cap down to $2.28 trillion. Bitcoin closed the week at the lower end of $67,000, dragging the market down, but some altcoins showed resilience.

One of the top cryptocurrencies to watch is Hege (HEGE), which initially faced bearish pressure but later staged a recovery. It ended the week below $0.01, down nearly 18%, but saw a 20% gain on Saturday and an additional 10.70% gain this week. Hege's recovery may form a V bottom pattern, with a potential rally to $0.0147.

Solana (SOL) performed well, gaining 7% while the rest of the market dropped. It closed the week above $170, and a CCI of 111.50 suggests strong momentum. However, caution is advised as the CCI is nearing overbought territories. Support levels for Solana are at $159.46, $144.76, $128.80, $118.94, and $102.98.

Another cryptocurrency to watch is Safe (SAFE), which ignored the market trend and had significant gains last week. It spiked 40.54% on Oct. 24, its largest intraday gain this year. Despite a mild retracement, it closed the week with a 55% increase at $1.468. Safe maintains its bullish momentum, but experienced a 6.81% drop today. The Fib. 0.618 level at $1.269 may act as the next support, with a further drop potentially reaching $1.11.

Safe was separated from Gnosis in 2022 to establish it as an independent entity focusing on multisignature wallet technology and decentralized infrastructure.

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