Top cryptocurrencies to watch this week: CKB, W, PENDLE

Among the top cryptocurrencies to watch in the days ahead are Nervos Network (CKB) and PENDLE, which surpassed multiple resistance levels. In contrast, Wormhole (W) experienced a price decline shortly after its debut.

Despite the price increases observed in select cryptocurrencies, the broader market saw a marginal downturn. The global crypto market cap shed over $111 billion this week, bringing its valuation to $2.55 trillion at last check.

Here is an overview of the performance from some of the top cryptocurrencies throughout the week:

CKB, W and PENDLE prices – April 7 | Source: Santiment

CKB hits 28-month high

Although Nervos Network benefited from the broader market upswing between October 2023 and March 2024, its gains were insufficient to surpass the highs achieved during the previous bull run in 2021.

Despite the market’s recent slowdown, CKB seeks to reclaim its previous highs. Initially affected by bearish pressure, the token experienced a notable decline of 19.13% on April 1 and 2, resulting in its value dropping to a two-week low of $0.0164.

Nervos Network looked to recoup the losses in the subsequent days, but encountered resistance at the 50-day EMA ($0.01689). Nonetheless, on April 6, the token’s recovery gained traction, allowing it to surpass the 50-day EMA and pursue higher grounds.

On April 6, CKB achieved an intraday gain of 32%, representing its most significant intraday increase in over a month. The cryptocurrency has maintained its upward trajectory, currently up 4.43% today at the time of reporting. Earlier today, CKB surged to a 28-month high of $0.0268 before experiencing a slight decline.

This marks the asset’s endeavor to surpass the November 2021 high at $0.03567. Nervos Network has experienced a 314% increase year-to-date, with a notable 28% surge this month alone. Currently valued at $0.0261, the token has rallied by 39% this week, positioning it as one of the top performers within this timeframe.