Last week, the global cryptocurrency market cap experienced a significant rebound, recovering $180 billion amid a 9% surge. This rally pushed the market cap back to the $2 trillion mark, ending the week at $2.1 trillion.

Let’s take a closer look at some top cryptocurrencies to watch this week:

Bitcoin Cash (BCH)

Bitcoin Cash surged 9.36% last week, securing its place above $300. Despite a minor correction, it closed the week at $327, maintaining an upward trajectory. However, the Bollinger Band Trend (BBTrend) remains bearish, indicating potential weakness in the uptrend.

Volume peaked on September 11 but has since declined, even as the price climbed. This divergence between price and volume could signal a lack of buying strength, suggesting the rally may lose momentum without renewed volume support.

BCH crossed above the 20-day moving average ($319) on September 11, which now serves as a key support level. If the uptrend continues, BCH could target $340 or $350. Conversely, a dip below $319 may signal a retest of $300 or lower. Investors should watch for volume increases to sustain upward momentum.

Bitcoin Cash was developed by a group that believed Bitcoin should be used more as a peer-to-peer digital cash system, as outlined in Satoshi Nakamoto’s original whitepaper, rather than as a store of value.

Dogelon Mars (ELON)

Dogelon Mars gained 6.11% last week, performing below the broader market but managing to stay in the green. The meme coin spent most of the week below the 20-day moving average ($0.00000012566) until the final day, closing at $0.00000012776.

Currently, ELON is positioned above the 20-day moving average and the lower Bollinger Band ($0.00000011944), but below the upper Bollinger Band ($0.00000013075). This suggests it still has room to rise before hitting resistance at the upper band.

The RSI at 46.39 indicates that ELON is not overbought, signaling potential upside momentum. If the bullish trend continues, expect resistance around $0.00000013075, with support at $0.00000011944. If it breaks above the upper Bollinger Band, ELON could push higher, but failure to hold above the 20-day MA might lead to a retest of lower levels.

ELON pays homage to both Dogecoin and Elon Musk, whose rocket company SpaceX is reportedly working on designs for a Martian city.

Nervos Network (CKB)

Nervos Network was the top performer last week, soaring by 117% to close at $0.01449. The dramatic rally began on September 13, with a massive 51% intraday spike, the largest gain since February.

This momentum carried into the new week, with CKB peaking at $0.01762 before pulling back slightly. The Fibonacci pivot levels show immediate resistance at $0.01351, which CKB has surpassed, with support at $0.00845 (pivot) if a retracement occurs.

The Commodity Channel Index (CCI) reading of 369 signals extreme overbought conditions, suggesting that while the uptrend is strong, a short-term correction could be on the horizon. Should a correction happen, investors should look for support around $0.00845, the pivot point. If CKB maintains its bullish momentum, a breakthrough above its three-month high could trigger further gains. However, watch for consolidation or pullback given the overextended CCI.

The Nervos Network was created by a team of blockchain developers and entrepreneurs with expertise in cryptography. The Nervos Common Knowledge Base (CKB) acts as its Layer 1 blockchain.

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