The most important cryptocurrencies to watch this week

Cryptocurrencies remained on edge last week as Bitcoin struggled to move above the key resistance level at $100,000.

The recent gains could accelerate this week as investors return to their offices after the Christmas and New Year holidays and as Donald Trump’s inauguration approaches. So, here are some of the top cryptocurrencies to watch this week, including Ethereum Name Service, Aptos, and Flare.

Ethereum Name Service

Ethereum Name Service (Forget) — the largest domain registrar in the cryptocurrency industry — is one of the top cryptocurrencies to watch this week. The network will unlock 1.46 million ENS tokens worth over $52.79 million to shareholders and the community. These unlocks are part of the monthly releases that will continue until November of this year.

ENS price rose to a high of $50.5 in December and then fell about 28% to a low of $30.47. This was a notable level because it was the swing high in March of last year. It has remained above the 50-day and 100-day EMAs.

The outlook for Ethereum Name Service token is bullish as it remains above the major averages and has formed a breakout and retest pattern. If this pattern continues, the next point to watch will be the 2024 high of $50.50.

Luminous

luminous (Feller), a popular virtual machine for Ethereum, will be another cryptocurrency to watch as it unlocks $47.6 million worth of tokens. These tokens will be special because they will represent approximately 3.2% of the float.

The daily chart shows that the Flare symbol has formed a combination of a falling wedge and a bullish flag pattern. The wedge consists of two converging downtrend lines, approaching their level of convergence.

The glow is also supported by the 50-day moving average. Therefore, it is likely to rebound, perhaps retesting the important resistance at $0.0325, the June 5 high.

Aptos

Aptos (APT) is another coin to watch this week as it unlocks tokens monthly.

The native token of the Aptos blockchain will issue 11.31 million tokens, which will be allocated to the community, core shareholders, investors and the foundation. Aptos will continue these monthly unlocks until September 2032.

Aptos network works fine. Its locked value has risen to over $1.07 billion, and the valuation of its stablecoins has moved to $646 million. Some of the top players in the ecosystem are Aries Markets, Echo Protocol, Thala, and Echelon Market.

On the daily chart, the APT symbol has rebounded in the past few days after forming a falling wedge pattern. It has retested key support at $10 which is above the uptrend line connecting the lowest volatility since August 5.

Therefore, the currency will maintain its uptrend if it is above the uptrend line.