Altcoins experienced a significant downturn last week, resulting in a $40 billion drop in the global crypto market cap, which fell to $2.09 trillion. Here’s a look at three cryptocurrencies worth monitoring in the coming days.

RARE Secures 223% Weekly Gain

SuperRare (RARE), the native token of the NFT marketplace, saw significant volatility last week. The token began the week with a 34% surge before experiencing an 18% decline over three days from August 12 to 14. However, RARE rebounded on August 15, leading to a surge in social volume.

Amid renewed interest, RARE sustained its momentum, spiking 127% in three days and closing the week with a 223% gain.

The token’s RSI now stands at 91.14, indicating an overbought condition, which suggests a possible upcoming correction. The CCI at 374.45 also signals overbought levels, confirming these sentiments.

RARE has surpassed the 0.236 Fibonacci level and is currently aiming to maintain its position above $0.3. If RARE holds the 0.236 Fibonacci support, it may continue to trend upwards.

FXS Maintains Resilience

Frax Share (FXS) showed limited volatility last week, closing at $1.906, representing a slight 0.67% drop. This resilience contrasts with the broader market’s bearish trend.

Frax Share’s moving averages indicate potential bullish momentum. The asset recently crossed above the nine-day MA (orange line), suggesting a short-term bullish trend. Additionally, the nine-day MA appears poised to cross above the 21-day MA (green line), which could signal a bullish reversal.

The Stochastic Momentum Index (SMI) supports this outlook, as the SMI line (blue) has surged above the MA line (orange), indicating building bullish momentum. Both indicators aligning suggests that FXS could be poised for an upward move, though confirmation in the coming days is essential.

COTI Faces Mixed Sentiments

COTI was bearish throughout last week, dropping 14% from August 11 to 15. However, it recorded a 21% surge on Saturday, closing the week with a 10% increase. The asset is now correcting as it faces selling pressure.

The daily pivot points show key resistance levels at $0.10017, $0.12553, and $0.14120. COTI’s immediate support lies at $0.07481 (S1). A breakdown below S1 could push prices towards S2 at $0.05914.

The Directional Moving Index indicates bearish momentum. The ADX (red line) is at 30.4, suggesting a strong trend, while the -DI (orange line) at 22.57 is above the +DI (blue line) at 19.04, confirming bearish pressure.

COTI’s ability to hold above S1 is crucial. Failure to do so could trigger further downside, whereas breaking through the Pivot might offer a chance for a recovery rally.

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