3 Cryptocurrency to Watch Out This Week: BCH, ELON, and CKB!

Bittime - The global crypto market continues to show interesting movements, with the total market capitalization again touching the $2.1 trillion mark after a 9% surge last week. 

There are 3 crypto assets that deserve to be in the spotlight and must be paid attention to this week, namely Bitcoin Cash (BCH), Dogelon Mars (ELON), And Nervos Network (CKB). Read this article to find out more!

1. Bitcoin Cash (BCH)

Bitcoin Cash (BCH) posted a 9.36% gain last week, breaking through the $300 mark and ending last week at $327. Even though it experienced a mild correction, BCH still maintained its upward trend.

Besides that, BCH managed to surpass the 20-day moving average (20-day MA) at $319 on September 11. Currently, this level is a key support that is important to monitor. If the bullish momentum continues, BCH could potentially reach the $340 to $350 target.

However, there are big challenges to be aware of. The Bollinger Band Trend (BBTrend) indicator is still showing a bearish signal, which indicates weakness in the uptrend. 

Additionally, BCH trading volume is decreasing despite the price moving up, which could indicate a lack of buying power.

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2. Dogelon Mars (ELON)

Dogelon Mars (ELON), a meme coin which was inspired by Dogecoin and the name Elon Musk, managed to record a 6.11% increase last week. Even though its performance is still below the overall market, ELON is still showing a positive trend.

ELON is currently above its 20-day moving average ($0.00000012566), with major resistance at the upper Bollinger Band level ($0.00000013075). 

In addition, the RSI (Relative Strength Index) is at 46.39, which indicates that this asset has not entered a condition overbought.

If the bullish trend continues, ELON has the potential to test resistance at $0.00000013075. Conversely, if it fails to stay above the 20-day MA, ELON could return to testing support at $0.00000011944.

3. Nervos Network (CKB)

Nervos Network (CKB) had its most impressive performance last week with a 117% gain, ending last week at $0.01449. This price spike began on September 13, with a rise of 51%, the largest daily increase since February.

This bullish momentum took CKB to its weekly high of $0.01762 before experiencing a slight correction. 

However, the Commodity Channel Index (CCI) indicator which is at 369 shows the condition overbought, which signals a possible short-term correction.

Meanwhile, the main support level is at $0.00845, which also serves as a pivot point. If the positive momentum continues, CKB has a chance to break the highest level in the last 3 months and continue the rally.  

Conclusion

That is 3 crypto assets to pay attention to this week. Understanding the technical and fundamental conditions of each crypto asset is very important to make the right decision

BCH attracts attention with its technical moves, ELON offers upside potential from a strong community, while CKB steals the show with a significant price spike. So, which assets attract your attention the most?

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