Prices of many cryptocurrencies have remained relatively stagnant in recent times, leading to speculation that the much-anticipated altcoin season may not materialize. Despite this, the performance of top tokens continues to be challenging, with notable fluctuations observed.
For example, Toncoin (TON) recently entered the top 10 rankings by market capitalization but has seen limited price movement. However, over the past week, TON has shown a 23.25% price increase. Similarly, Solana (SOL) has maintained a stable price around $146.82, while Render (RNDR) and Jupiter (JUP) have experienced minor fluctuations.
Looking ahead, let’s delve into the potential price movements of these cryptocurrencies in the upcoming week.
**Toncoin (TON)**
Analyzing the 4-hour chart, TON has established strong support at $5.64, enabling the token to surpass the $6.24 resistance level. Currently trading at $6.90, TON faces a crucial hurdle at $7.19. A successful breakout above this resistance could propel the token towards $8.50. Conversely, a rejection may lead to a retracement to $6.00, although the Relative Strength Index (RSI) suggests ongoing buying momentum.
Furthermore, TON’s price could experience a boost this week, coinciding with the launch of Notcoin (NOT) on the TON blockchain on May 16.
**Solana (SOL)**
The 4-hour chart for SOL indicates a struggle to revisit its recent peak of $155.47. The Exponential Moving Average (EMA) crossover suggests a bearish trend, with a potential decline to $137.26 if buying pressure does not materialize.
**Render (RNDR)**
While RNDR saw significant gains over the last week, recent indicators like the Money Flow Index (MFI) and Moving Average Convergence Divergence (MACD) hint at a possible downturn. The short-term target for RNDR points to a potential drop to $9.70 unless renewed buying interest emerges.
**Jupiter (JUP)**
JUP is currently trading at $1.05, with support at $1.00 being defended by bulls. Signals from the Awesome Oscillator (AO) suggest a potential uptrend, with a likely retest of the $1.19 resistance level if the AO continues to improve.
As we navigate the dynamic crypto market, it is essential to conduct thorough research and exercise caution before making investment decisions. This information serves as a guide for educational purposes and should not be considered as financial advice. Stay informed and vigilant in your crypto endeavors.
