Top cryptos to watch this week: KAS, RNDR, ADA
This week, the global crypto market cap increased from $1.41 trillion to $1.38 trillion. However, several assets bucked the trend, while others succumbed to the declines. Here’s a look at Kaspa (KAS), Render (RNDR), and Cardano (ADA).
Kaspa (KAS)
Kaspa is one of the biggest gainers this week, taking third place 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 few months, with encouraging momentum recorded recently.
This week’s resurgence began on November 13 after a decline to $0.0780. The asset saw a rapid rebound from this decline, recording consecutive daily winning sessions from November 14-18. Up 1.55% today, Kaspa looks to close the day with its sixth consecutive intraday win.
However, the biggest price rally occurred on November 15, when the asset saw a 30% increase, one of its biggest intraday gains. The uptrend was bolstered by extensive support from notable crypto exchanges including Uphold and Binance. On November 16, Binance revealed plans to launch perpetual contracts for KAS.
The asset maintained the uptrend until reaching a new all-time high (ATH) of $0.1468 today, according to CoinGecko data. Despite a slight 2.49% drop in ATH, Kaspa maintained its momentum. Currently changing hands at $0.1428, the asset is trading well above the 50-day EMA ($0.0723) and the 200-day EMA ($0.0446).
Rendered (RNDR)
Rendering also made significant progress this week, with an impressive 40% gain since November 13. The asset’s resurgence is nothing short of commendable, after recovering from two consecutive losing sessions earlier this week, with a 6.64% drop in November. November 13 and 14.
RNDR regained these lost values with a massive 26.2% increase on November 15. This rise was triggered by the bullish price movements recorded in the broader crypto market, as Bitcoin hit a new yearly high of $37,980. Render benefited from the rally, posting more substantial gains.
As the rally spread through November 16, RNDR became the biggest gainer among the 100 largest assets by market capitalization. Amid the uptrend, the asset hit a 21-month high of $3.59. The last time Render saw this price level was February 2022.
RNDR is trading at $3.46, up 10% in the last 24 hours. The asset is the third biggest gainer this week, with an increase of 40.4%. Render is taking advantage of the ongoing rally to reclaim $4 territory. However, the asset will need to overcome 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 a measly 1.9% from the $0.3835 value it started with this week. The start of the week was not favorable for the asset, with a drop of 6.94% on November 13.
However, ADA made a comeback, fending off declines on November 14, while the rest of the market was down. The next day, Cardano recorded an impressive intraday gain of 5.84%. The asset finally broke above the $0.40 level on November 16 for the first time since April, reaching a high of $0.4095 before running into immense resistance.
Since falling from the $0.4095 high, ADA has continued to defend support at $0.3488. The asset rebounded to $0.3791 today, but hit another hurdle, leading to further decline. To conquer the coveted $0.40 zone, ADA must overcome the Fibonacci level at 1, currently stationed at $0.4183.
