The prominent crypto projects in the market over the past week – SPX, HYPE, PYTH, EOS

Volatility has engulfed the crypto market over the past week with Bitcoin (BTC) surging to a new ATH of over $111,000. However, macroeconomic instability quickly brought back a risk-off sentiment.

In the context of a turbulent market, capital does not completely exit. Instead, it selectively flows into certain projects, keeping a few specific sectors still maintaining growth momentum.

The best performing projects of the week

SPX6900 (SPX) – Memecoin maintains its upward momentum during the short-term frenzy

SPX6900 (SPX) is the leading project over the past week with an increase of nearly 30% in valuation.

Opening the week with a decrease of 2.10% in a negative direction, closing at $0.0743, but strong capital inflow has driven a 25% price increase for three consecutive days.

Despite this momentum, the SPX capitulated on May 23 when the overall market plummeted, experiencing a sharp correction of 5.09% in one day before consolidating around $0.87 at the present time.

The trading volume decreased by 55.84%, indicating that the short-term hype may be quickly fading. Without new buying pressure, SPX risks sliding back to $0.77 in the near future.

Worldcoin (WLD) – Utility token begins to recover mid-week

Worldcoin (WLD) has recorded a strong increase of 20.38% this week, driven by risk-on market sentiment.

On May 22, WLD broke through the key resistance level at $1.30 with a strong increase of 26.91% on the day, closing at $1.51, the highest in two months.

After the breakout, the price has returned to test the $1.30 area in the context of FUD in the overall market.

The important factor now is whether $1.30 will maintain its role as a support level, supported by increasing spot trading volume.

If successful in holding, WLD may aim to retest the level of $1.50. Traders need to monitor the trading volume trend to assess the sustainability of this move.

Hyperliquid (HYPE) – DeFi momentum pushes back the bears

Hyperliquid (HYPE) has secured a position in the top three, supported by strong technical indicators and bullish market momentum. After hitting a low of $9.32 in mid-April, HYPE has begun a linear growth trend.

The uptrend is supported by continuous buying pressure, systematically forming a short squeeze and triggering large liquidity sweeps.

The recent weekly breakout has seen another short squeeze as HYPE tests its mid-February resistance level near $27.

This move coincides with Bitcoin's ATH level, amplifying the short squeeze effect.

Source: TradingViewRSI in the overbought zone indicates potential local cooling. However, the dominance of HYPE with an increase of up to 14% in the past 24 hours signals the opposite. Its momentum remains strong in the bullish zone.

With the price structure holding strong on key support levels and the short squeeze events, the market still has the potential to continue rising.

If the trading volume increases, HYPE can easily extend its growth trend into the current week.

Other notable projects

In addition to the projects mentioned above, several other altcoins also attracted attention in the past week.

Collatrize (COLAT) leads with an incredible increase of 160.7%. Efinity (EFI) is not far behind with a rise of 135.5%, while Moonpig (MOONPIG) surged by 101.6%.

Losers of the Week

Pyth Network (PYTH) – Token oracle pulled back into the battle

Pyth Network (PYTH) is sliding down, leading the projects with the worst performance this week with a sharp decline of 19.27%.

The market did not decline gradually. PYTH started the week with a drop of 11.92% in just one day, pulling the price down to $0.13 and marking the lowest point in a month.

However, even when the price has dropped significantly, buyers still remain on the sidelines. What happens next is that trading volume stagnates at low levels, forming a compression range.

Source: TradingViewSuch patterns are usually a precursor to a breakout or a collapse.

However, with limited on-chain liquidity and lack of upward momentum, the trend leans towards the downside.

If the bulls do not regain control soon, PYTH could slide back to lower levels, targeting the $0.10 region. This is a key support level where buyers may step in.

Story (IP) – Efforts to regain bullish support

Story (IP) ended the week with a decrease of 13.39%, but this chart does not only have red candles.

Technically, the token still maintains its higher time frame structure.

After opening with a decrease of 5.09% and two consecutive days of pressure down to $4.44, the bulls entered the fray with a rapid increase of 5.33%.

This recovery only lasted for a short time when the overall market faced FUD, but this recovery shows that buyers are still active at lower levels.

Since then, the price has consolidated in a narrow range around $4.17, forming a potential bottom.

If this level is maintained and demand increases, the IP may have a short-term recovery to the supply zone of $4.80 – $5.00.

Currently, the momentum is neutral, but this sideways structure is often a breakout signal. Therefore, traders need to pay attention when IP may be preparing for its next move.

Eos (EOS) – Third generation blockchain slides deeper into the recession

Eos (EOS) has extended its weekly losing streak with a decline of nearly 10%, once again placing it on the list of the least performing projects.

After starting the week with a decrease of 4.09% to $0.75. Previously, EOS was rejected from breaking out just before the psychological level of $1.00.

The rejection occurred just as macro fears emerged across the market, amplifying the downward movement.

But signs of life are emerging. EOS has risen more than 7% in the past 24 hours, with buyers stepping in near the $0.80 area, a level that may currently be acting as a local bottom.

If this recovery forms a higher low and trading volume increases, it could trap late Short orders and drive the formation of a short squeeze in the short term.

The recovery of the $0.85 level will open the door for a rebound to the $0.95 – $1.00 level, especially if risk appetite returns.

Other noteworthy projects

Hot Mom (HOTMOM) leads the weekly losing projects with a 61.4% retracement. APF Coin (APFC) and NEM (XEM) followed closely behind, slipping 44.6% and 38.2%, respectively.

Conclusion

The crypto space continues to witness chaos over the past week — significant profits, heavy losses, and constant volatility requiring traders to be truly cautious.

Therefore, investors need to conduct thorough research before participating. Always stay alert, trade smartly, and navigate through the storms wisely!

Vincent