Crypto prices had a mixed performance last week, with popular tokens like Onyxcoin, Fartcoin, Jasmy, Hyperliquid, and Helium soaring.
Other altcoins like Tezos, EOS, Movement, Toncoin, and Ethereum crashed by double digits. Bitcoin (BTC) remained in a consolidation phase during the week, even as the US dollar index plunged and U.S. equities wavered.
This article explores why Fartcoin (FARTCOIN), Solana (SOL), and Arbitrum (ARB) are the top cryptocurrencies to watch this week.
Solana
Solana, the giant layer-1 network will be in the spotlight this week because of its rising transactions. Nansen data shows that its transactions rose by 6.6% in the last seven days to 355 million, while its fees rose to over $6.15 million.
Also, Solana has flipped Ethereum (ETH) in terms of decentralized exchange transactions, as it handled over $15 billion in the last seven days.
Additionally, some popular meme coins in the network like Popcat (POPCAT), Dogwifhat (WIF), and Fartcoin have soared. Therefore, this performance may help to boost the Solana price this week.
The chart above shows that SOL price has rebounded to $129 after bottoming at $94.65 earlier this month. More upside will see the token rise to the 38.2% Fibonacci Retracement point at $170.
Fartcoin
Fartcoin is another top cryptocurrency to watch this week because of its recent performance as it jumped by over 364% from its lowest point this year. It has jumped to the highest point since February 1.
This peformance happened as whales accumulated it, leading to fear of missing out among investors. Technically, it has formed a cup and handle pattern, pointing to more upside in the next few days. If this happens, the token will likely continue rising as bulls target the key resistance at $1.5.
Arbitrum
Arbitrum token has been in a strong downtrend in the past few months, even as it became the second-biggest layer-2 network in crypto. Data shows that the volume handled by its DEX protocols jumped by over 40% in the last seven days to $4.6 billion.
Arbitrum will be in the spotlight for two main reasons. First, its network is likely to cross the $500 billion milestone in terms of DEX transactions. Its protocols, like Uniswap, Fluid, PancakeSwap, and Camelot, have handled over $495 billion.
Second, the ARB price will be in the spotlight as the network unlocks tokens worth over $28 million, representing 2% of its float. The network’s regular unlocks explain why the token has crashed by 87% from its all-time high.
On the positive side, the Arbitrum price has formed a falling wedge pattern. Also, as shown above, the Awesome Oscillator has formed a bullish divergence pattern, pointing to an eventual rebound.
