---
title: "Top cryptocurrencies to watch this week"
url: https://diffcoin.com/top-cryptocurrencies-to-watch-this-week-3/
description: "Ethena, Pepe and Luna Classic are our top cryptocurrencies to watch this week."
published: 2024-08-11
updated: 2024-08-11
author: "Mila"
site: "Diffcoin"
---

# Top cryptocurrencies to watch this week

The cryptocurrency market witnessed a rollercoaster ride last week, with the global market cap collapsing to a two-month low of $1.76 trillion, as Bitcoin dropped below $50,000.

The global crypto market cap, however, recovered to the $2.15 trillion mark amid a rebound from Bitcoin (BTC) and other major altcoins.

Here are our top cryptocurrencies to watch this week following their notable performances last week:

## ENA survives onslaught

Ethena (ENA) slumped with the rest of the market on Aug. 5. It eventually recovered to close the week at $0.32, slightly above the McGinley Dynamic line at $0.316.

This marks a modest 2% weekly increase for ENA.

![ENA, PEPE, LUNC: Top cryptocurrencies to watch this week - 1](https://crypto.news/app/uploads/2024/08/Ethena-1D-Chart_010015.png)

ENA 1D chart – Aug. 11 | Source: crypto.news

The MACD currently shows a bearish momentum. This suggests that selling pressure has been dominant, although the gap between the two lines is narrowing, indicating a potential shift in momentum.

The McGinley Dynamic is acting as a resistance level. The ENA price has struggled to break above it amid weak bullish sentiment. If Ethena fails to sustain above this level, it may retest the $0.30 support, with a potential downside towards $0.28.

However, if buying pressure increases and the price breaks above the McGinley Dynamic, a move toward $0.35 could be expected. The MACD crossover, if it occurs, could confirm this bullish reversal.

## Pepe hovers around lower Bollinger Band

Pepe (PEPE) experienced notable volatility over the past week, dropping to a low of $0.00000585 on Aug. 5 before rebounding.

The meme coin’s price fluctuated significantly, ultimately closing the week at $0.00000844 — a 2% decline.

![ENA, PEPE, LUNC: Top cryptocurrencies to watch this week - 2](https://crypto.news/app/uploads/2024/08/Pepe-1D-Chart_010012.png)

PEPE 1D chart – Aug. 11 | Source: crypto.news

The Bollinger Bands show that PEPE traded close to the lower band, which suggests it was in an oversold region. The price dipped below the middle band, around $0.00000994, mid-week, signaling bearish momentum.

The Directional Movement Index shows mixed signals. The ADX, which measures trend strength, is at 28.2, indicating a moderately strong trend.

If Pepe fails to reclaim the middle Bollinger Band, it could continue trading near the lower band, potentially testing the $0.00000632 support. Conversely, if bullish momentum returns, breaking above $0.00000994 could pave the way for a recovery towards $0.00001357.

## LUNC spikes 22%

Terra Classic (LUNC) experienced a strong bullish reversal last week, closing at $0.00008705 after a 22% spike.

The majority of this surge occurred on the last day of the week, with LUNC witnessing a remarkable 23% intraday gain.

![ENA, PEPE, LUNC: Top cryptocurrencies to watch this week - 3](https://crypto.news/app/uploads/2024/08/Terra-Classic-1D-Chart_010007.png)

LUNC 1D chart – Aug. 11 | Source: crypto.news

The Ichimoku Cloud indicator suggests a potential trend reversal. LUNC closed above the Tenkan-sen, $0.00007505, and the Kijun-sen, $0.00007335, showing bullish momentum.

However, the price remains below the Kumo cloud, which spans $0.00007466 to $0.00008705, indicating resistance ahead.

To confirm a bullish trend, Terra Classic would need to break and close above the cloud, particularly surpassing the upper boundary.

Meanwhile, the On-Balance Volume is at 8.526 trillion, showing an increase in buying pressure. If LUNC manages to break above the Ichimoku Cloud, it could target higher resistance levels around $0.00010000. However, failure to sustain momentum might result in a retracement towards the Kijun-sen or even lower.

[Source link](https://crypto.news/ena-pepe-lunc-top-cryptocurrencies-to-watch-this-week/)