Weekly winners
Hyperliquid [$HYPE] – DEX token pushed toward a key inflection point
Hyperliquid [$HYPE] led gains this week with a strong +16%, putting it at a critical turning point. With a break of a 5-week downtrend, there appears to be bullish momentum returning to $HYPE. That said, the rally was also not entirely due to luck.
Instead, $HYPE picked up steam after a key partnership between Intercontinental Exchange (parent company of the New York Stock Exchange) and Trade[XYZ] which aims to bring regulated 24/7 perpetual futures markets to the United States using Hyperliquid infrastructure.
The timing is perfect here. As it can be seen below, $HYPE has rallied 15%, putting it much closer to a key psychological level of $100. The RSI is still below overbought levels too, so bulls could go much higher.
Meanwhile, macro FUD remains a lingering cloud over the broader market.
However, the market is seeing increased capital rotation into $HYPE, while on-chain developments could provide more fuel to the bull case here. In this context, $HYPE’s $87 retest could be a healthy pullback rather than a sign of weakness. If bulls hold their ground, a move toward $100 is still on the cards.
Pepe [$PEPE] – Ethereum-based memecoin had a highly bullish week
Pepe [$PEPE] was the second largest gainer this week after putting in a strong performance to surge almost 15%, outperforming the market. This indicates that there has been fresh buying interest in this memecoin after weeks of selling pressure.
There’s also a whale effect here. Arkham Intelligence reported there being wallets linked to Justin Sun with around $51 million in $PEPE, following reported accumulation over 10 days. Meanwhile, derivatives activity also picked up, with open interest climbing to $400 million. So traders are coming back in.
Technically too, $PEPE’s recovery is really taking off. It’s above key daily moving averages and the RSI is 62, meaning it’s still bullish but not overbought. A breakout could lead the way to $0.00000550, while $0.00000486 remains a key support level to watch out for.
Quant [$QNT] – A blockchain project finally saw bulls step in
Quant [$QNT] turned bullish this week, rising around 10.5% despite a general downtrend in the market. This indicates that buyers are starting to come back into the market and $QNT is appearing to outperform.
From a technical perspective, $QNT has regained $200. The daily RSI is still at around 56 and therefore shows positive momentum but there is still room to move higher if buyers continue to be in control.
Next thing to watch out for is the $202 resistance level. A clean break here could see the price push higher towards 206-216, but look out for support at 194-196. This is a very strong support area. If bulls can hold this level with a good amount of volume then $QNT can see a bounce. However, if it breaks through resistance then it may start to see some of its recent gains disappear.
Other notable winners
Other than the major altcoins, others were in action this week.
Infinity Ground [AIN] was at the top of the pile with gains of 636%, followed by MEET48 [IDOL] which rocketed 150%, and finally Capricorn [APR] which jumped 82%.
Weekly losers
Bitway [$BTW] – DeFi platform extended its decline this week
Bitway [$BTW] has continued to fall victim to heavy selling as it lost nearly 35% of its value this week. The DeFi infrastructure token has fallen further into correction following a brief rally as sellers have taken over.
This weakness is also being mirrored by a lack of risk appetite for small caps. Technically, the chart is currently set up in a bearish position. $BTW is trading below its key moving averages, the RSI is in oversold territory and the stock has not been bought back into control. The MACD shows this selling pressure.
The next key part will be whether bulls can regain control of this local resistance level and cause bullish volume. If they can’t then any short term rally could be hit by fresh selling.
Thus, failure to hold the support means that $BTW is at risk to another down leg as bears remain in control.
Rain [$RAIN] – Financial project kicked off another capitulation phase
Rain [$RAIN] began a new capitulation phase, falling almost 25% this week. The stable-coin focused payment and financial infrastructure token continues to fall in value, lagging behind the broader market. Buyers have shown little interest and there is continued pressure on the supply.
Overall, the chart looks bearish. Price has fallen below key moving averages and the daily RSI has fallen to 27, meaning that $RAIN is highly oversold. The MACD is also bearish showing there is a lot of selling pressure.
The $0.0060 level is now a key support to watch. A breakdown could expose $RAIN to further downside, while reclaiming $0.0070 would provide a bullish sign of consolidation. However for now, bulls will require more than just an oversold RSI. If there is no strong buying then $RAIN may see a further wave of selling.
Worldcoin [$WLD] – Digital project left bulls fighting to defend a key support zone
Worldcoin [$WLD] has fallen almost 15% this week as a big holder of the token moved tokens out of a long-dormant institutional wallet. Around 19.7 million $WLD, or $10 million worth were moved to exchanges, sparking fears of more selling.
To add to the pressure traders were becoming increasingly wary of risk assets. This can also be seen in the derivatives markets where heavy short positions have increased the pressure on the pair. After being rejected near $0.60 $WLD is struggling to find its feet.
The bulls have to defend the $0.46 support zone. A breakdown could expose $WLD to further losses toward $0.40. A retest of the $0.50 level would indicate an early bounce back. However, negative flow in the market has left the bears in control.
Other notable losers
The wider market saw some negative volatility.
FUNToken (FUN) saw the largest losses of any tokens with a 73% drop. This was followed by Akedo (AKE) which dropped 70%, with Quack AI (Q) falling 60%.
Conclusion
This week was a rollercoaster. Big pumps, sharp dips, and nonstop action. As always, stay sharp, do your own research, and trade smart.
Final Summary
- Hyperliquid [$HYPE], Pepe [$PEPE], and Quant [$QNT] led the week in gains.
- Bitway [$BTW], Rain [$RAIN], and Worldcoin [$WLD] saw significant declines.
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