Crypto market’s weekly winners and losers – M, YELLOW, BTW, UMXM

Crypto had a rough week.

Technically, Bitcoin came under heavy selling pressure after falling below $80k and Ethereum dropped below $2.3k. This, coupled with general market uncertainty, caused many altcoins to struggle during the week. Memecoins had a good week, however, with some seeing impressive gains.

Overall, sellers held the upper hand, leaving traders watching for signs of recovery.

Weekly winners 

MemeCore [M] – L1 gained around 22%-33% over the week as bulls regained control

MemeCore [M] was the biggest winner of the week, rising around 22% as bulls got some much-needed positive news. However, there were signs that the bulls were getting greedy. 

From a technical standpoint, M moved higher towards the $0.97 resistance zone before sellers stepped in, sending the token back toward $0.92 levels as the daily RSI rose above 70. Now, the important thing to consider here is whether bulls can continue their rally. 

According to AMBCrypto, $0.90 is the level to watch, while a break above $0.97 may leave the psychological level of $1 mark back in sight. However, M remains below its longer-term trend averages, so one strong week doesn’t automatically mean the downtrend is over. 

Keeping this in mind, if buyers fail to defend $0.90, then the door opens for a retest towards $0.85.

Pepe [PEPE] – Memecoin climbed, but a confirmed breakout remains a long way off

Pepe [PEPE] had a strong start to the week, rising by around 11% over the last 7 days. However, sellers took control and saw the price fall. The frog-themed memecoin rallied to hit close to $0.0000051, but failed to hold those gains and slid back toward $0.0000044. 

According to AMBCrypto, this rejection shows that there are buyers coming into the market but bears aren’t backing down just yet. From a technical perspective, $0.00000462 is the level bulls need to flip into support to give the rally another leg higher. The RSI sits near 55, suggesting buyers still have a slight edge, but momentum has cooled from the recent spike. 

So, if PEPE breaks resistance with strong volume, the next target could be around $0.0000050 and $0.00000536. However, a drop below $0.00000416 may bring the support level around $0.0000038 back into play. Despite this, PEPE is currently showing bullish momentum but has yet to break out.

Venice Token [VVV] – Utility token showed signs of a historical pattern repeat

Venice Token [VVV] gained about 10% in the past week but came under light profit-taking pressure around $27, pulling back toward $24.5. Weekly RSI is currently sitting around 60, so it remains that the bulls are gaining some traction but aren’t too overbought.

The important level here will be the $25-27 area. 

If bulls can regain this area then the altcoin may see further strength, but if the support breaks below at around $21.5 then it could see weakness come back into the recovery. Although on the daily chart it looks more positive, the weekly chart still shows some choppiness, so the historical-pattern setup is worth watching, however, it’s not a confirmed pattern just yet.

Other notable winners

Outside the majors, altcoin movers also stood out this week.

Yellow [YELLOW] led the rally with a 386% gain, followed by Irys [IRYS], which surged 253%, while Janction [JCT] climbed 224%, rounding out the list of the biggest weekly gainers.

Weekly losers

Bitway [BTW] – Layer-1 blockchain recorded its first bearish week

Bitway [BTW] had a rough week as its recent rally finally hit a speed bump. 

After climbing to around $2.43, BTW slipped toward $1.76, with sellers taking advantage of the run-up. Moreover, the consolidation was accompanied by weaker technicals with the daily RSI hovering around 48 showing the bullish momentum has slowed down.

The key thing to watch will be whether this is simply a pause or the beginning of a more significant correction. The $1.6-$1.65 area will be key support to watch, with a re-test of $1.85 could help bulls regain some ground. If buyers defend support and volume picks up, BTW could attempt another run toward $2.00.

However, if the altcoin does see a break below $1.60, then it may see increased selling pressure come into the market. 

Aerodrome Finance [AERO] – Decentralized exchange on Base saw bulls fail to step in

Aerodrome Finance [AERO] has had a rough week, losing 18% over the last seven days as bears dominate the market. The altcoin has fallen towards $0.68, with the RSI showing a very low level of buying power at only just below 38. This shows that there has been little buying power as it is approaching oversold levels.

Now, $0.67 is the key support to watch. 

If AERO holds this level, it could get a chance to bounce toward $0.73. However, if sellers manage to take it below support then it could get worse. AERO will need buyers to come in to avoid a larger issue.

Filecoin [FIL] – A decentralized storage network fell toward a key support zone

Filecoin [FIL] slid about 12.5% as it came back down towards $0.93 as sellers stayed in control. One reason behind the drop was the FUD, with Bitcoin volatility pushing traders away from riskier altcoins. 

FIL also struggled to hold the $1 following its recent upswing, causing another wave of selling as it fell below key technical support levels. Moreover, the pullback comes despite a number of positive developments including a Solstice upgrade going live in October and its six-year vesting schedule coming to an end leading to a massive reduction in new token supply.

However, the long-term fundamentals have failed to prevent profit-taking. Now, $0.92 is the key support to watch. Holding above it could help FIL stabilize, but a break lower could open the door toward $0.87.

Other notable losers

In the broader market, downside volatility hit hard.

Manadia [UMXM] led the losers with a 63% drop, followed by Hookr.fun [HOOKR], falling 42%, and The Black Bull [ANSEM], slipping 38%, as selling pressure intensified and bearish momentum spread across the altcoin market.

Conclusion

This week was a rollercoaster. Big pumps, sharp dips, and nonstop action. As always, stay sharp, do your own research, and trade smart.

Final Summary

• MemeCore [M], Pepe [PEPE], and Venice Token [VVV] stood out among the weekly winners.

• Bitway [BTW], Aerodrome Finance [AERO], and Filecoin [FIL] struggled, with sellers keeping the pressure on throughout the week.