Over the past week, Bitcoin [BTC] fell 3.88% in value. The threat of escalation in West Asia and its impact on the global economy led to a swift sell-off over the weekend.
Since Saturday’s high of $71.1k, Bitcoin has fallen 3.5% within 24 hours. The altcoin market capitalization has shrunk 1.94% in the same period. Some enjoyed a notable weekly performance despite the wider crypto market fears, and some altcoins exhibited remarkable weakness.
Time to sort out the biggest weekly winners and losers.
Weekly winners
Kaspa seizes altcoin investor attention by breaking its 100-day moving average
The 1-day timeframe showed that Kaspa has some bullish impetus in recent days. The trading volume soared above the 20-day average on Monday, the 16th of March, and has remained high since then.
The OBV was moving towards new highs, and the DMI showed a strong uptrend in progress as KAS noted a 19.5% rally for the week.
Yet, the price action showed a bearish swing structure. The $0.042-$0.047 was a key resistance zone for the bulls to overcome.
The price has breached the 50- and 100-day moving averages, but these MAs have yet to form a bullish crossover to indicate sustained upward momentum on this timeframe.
DeXe rally reinforces the crypto AI sector’s relative strength
AMBCrypto noted in its previous weekly report that the AI sector market cap growth had been explosive. Popular AI tokens had seen 30% or more gains in a week.
DeXe [DEXE] has continued this trend, with an 18.62% move higher this week.
Some other leading AI sector tokens were unable to maintain their pace, making DeXe’s relative strength even more notable. The $7.4 area was a key supply zone overhead.
River inches closer to breaking past local highs
A recent AMBCrypto report showed that River had established a bullish structure once again. A possible retracement toward $18 in case of a Bitcoin sell-off was expected. The recent selling pressure on BTC did very little to force back the RIVER bulls.
It was likely to break the $28.7 local highs and continue its upward momentum over the coming week.
Other notable winners
Artificial Superintelligence Alliance [FET] was another AI token with a standout weekly performance of 16.55%. FET bulls would continue to be in a strong position so long as prices remain above the $0.2 level.
Quant [QNT] was another winner of the past week, rallying 12.6% this week. It challenged the $80 resistance level but was unable to overcome it on the first try.
Weekly losers
Uniswap is down 12.4% for the week alongside DeFi sector weakness
Glassnode data showed that the DeFi sector market capitalization was down 4.5% for the week. Among their leading tokens, UNI was the weakest. A week ago, it was headed toward the $4.29 local high.
The bulls were making steady progress, but this progress was quickly erased. Within a week, the $3.6 support was lost. The RSI has sunk back below the neutral 50 level, and the OBV’s progress has also slowed down.
TRUMP continues to face selling pressure after conference hype
The Official Trump [TRUMP] token was another prominent loser from last week’s trading. It was down nearly 5% in 24 hours and 20.51% for the week. The memecoin’s prices exploded to reach the $4 mark after the Mar-a-Lago crypto conference announcement.
Since then, the longer-term bearish trend has asserted itself once more.
OKB unable to maintain the earlier bullish momentum
OKB, the OKX exchange and gas token, continued to slide down the price charts. Earlier this month, Intercontinental Exchange announced a $25 billion valuation of OKX when unveiling a strategic investment.
This news sent OKB prices soaring past $120, but the move was not sustained. The altcoin was down 31.9% from the $124.2 high. In just the past week, it fell by 12.57%.
Other notable losers
Some of the same suspects made their way into the weekly standout altcoins. Midnight [NIGHT] continued its losing streak with a 16.6% weekly slide.
Render [RENDER] and Internet Computer [ICP] were other popular crypto AI tokens that fell flat over the past week.
The two of them registered a 10.37% and 9.66% weekly loss, respectively.
Geopolitical tensions could make the coming week dreary
Bitcoin was trading in a value area and presented a short-term buying opportunity. If the price can remain above the $65.6k local support, there’s a chance of a recovery beyond $70k.
This could give select altcoins a chance to run higher, especially the ones that have shown relative strength against BTC in recent weeks.
Final Summary
- The Bitcoin sell-off on Saturday affected some altcoins much worse than others.
- Kaspa and DeXe were the leading winners this week, while Midnight, TRUMP, and OKB tokens continued their recent slump.
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