Crypto Market Weekly Report: After over $1 billion in liquidations, mid-cap tokens like MYX, ZEC, and ASTER rise against the trend.

In the past week, the cryptocurrency market experienced a bloodbath, with a single-day liquidation event exceeding $1 billion shocking the market. Alts led the big dump, followed closely by Bitcoin (BTC), which almost wiped out all gains from September. In the aftermath of this shock, mid-cap Tokens performed outstandingly, leading the rise in the past week's gain list. MYX Finance (MYX), Zcash (ZEC), and Aster (ASTER) became the top three in weekly gains; while Pump.fun (PUMP), Story (IP), and Pi (PI) recorded significant falls.

Weekly Gain Winners Analysis: The Counter-Trend Rebound of Mid-Market Capitalization Tokens

After experiencing severe liquidations, mid-market capitalization projects have shown surprising resilience.

MYX Finance (MYX): rebound out of the trough

• Weekly Performance Leader: MYX Finance (MYX) leads the weekly earnings list with a 30% rise, rebounding from $9.8. Last week, the Token fell by 11.2% after reaching a local high of $18, and this rebound shows solid buying support.
• Technical structure: Since the high of 19 dollars in mid-September, MYX has formed two lower highs and two higher lows, making the support level of 15 dollars at risk of turning into a resistance level.
• Bullish signal: The RSI is far from reaching overbought conditions, indicating that the market has not yet been excessively extended, which may attract bulls to test higher levels. However, if buying pressure fails to sustain, a deeper pullback may occur.

Zcash (ZEC): Privacy Token Breaks Through Key Resistance

• Steady Rise: Zcash (ZEC) recorded a 13% rise over the past week, making it the second-best performing Token. Its steady upward trend has formed a bullish divergence, suggesting inherent strength.
• Monthly performance: ZEC has recorded bullish candles for four consecutive weeks, bringing its return on investment in September to 44%, making it the best monthly performance since November. This altcoin is expected to close above the key resistance zone this month.
• Technical Outlook: ZEC has broken through the four-month high resistance of 54 USD with a 12% rise for the first time, but the RSI remains outside the overbought zone, laying the foundation for its next target at the 60 USD resistance level.

Aster (ASTER): ATH breakout under high volatility

• Volatility is Severe: Aster (ASTER) was the third largest winner in the past week, but its volatility is extremely high. The price soared from $1.3 at the beginning of the week to a historic high (ATH) of $2.4, before retracing 26% down to $1.7, typically demonstrating a "fluctuating" characteristic.
• Hype cycle: After a strong rise over two weeks, ASTER quickly retraced 60% of its weekly gain, marking the dissolution of a typical hype cycle.
• Key Levels: ASTER is struggling to convert the $1.80 to $2.15 area into support, with sellers still in control. Next, attention needs to be paid to $1.6, which will determine if bulls will step in or if the pullback will extend.

Other winners worth paying attention to

In the past week, some small market capitalization alts (Altcoin Rockets) performed remarkably: APEX (APEX) led the rise with a 704% increase, I Love Puppies (PUPPIES) rose by 411%, and PunkStrategy (PNKSTR) followed closely with a 211% increase.

Weekly Decline Losers Analysis: Bear Market Structure and Liquidation Pressure

The large-scale liquidation pressure is mainly concentrated on tokens with poor liquidity.

Pump.fun (PUMP): Strengthening bear market structure

• Leading decline: Pump.fun (PUMP) fell 20% over the past week, dropping below 0.006 dollars, marking a lower low for the second consecutive week, reinforcing the bear market structure.
• Lack of momentum: Although there was a slight rebound of 2.3% after the sharp drop at the beginning of the week (the bulls' first attempt), the momentum quickly weakened, and then fell another 13% in the following two days.
• Short-term outlook: PUMP has been pushed back to the trading range of mid-September, but the current trading volume is sluggish, lacking strong accumulation signs. If bulls can intervene in the consolidation zone around $0.005, a rebound may occur; otherwise, the rise after PUMP's listing may face the risk of being completely erased.

Story (IP): Healthy pullback after a massive sell-off

• Largest Bearish Candle: Story (IP) fell over 15% in the past week, setting a record for the largest single-day bearish candle in history, with RSI dropping 25 points, indicating heavy selling pressure.
• Nature judgment: Unlike PUMP, this pullback of IP occurred after a strong rebound in H2 and peaked at $15 in mid-September. This is more like a healthy reset rather than a trend reversal.
• Future Potential: IP stabilized around $8 over the weekend, suggesting a possible "bear trap" formation. If bulls intervene here, we might see the price squeeze back to $14, becoming a solid entry point for the next wave of rise.

Pi Coin (PI): fell below key support level

• Continues to struggle: Pi Coin (PI) fell more than 15% in the past week, making it the third largest loser, highlighting the firm control of the bear market.
• Created a historic low: After six weeks of consolidation around $0.30 was broken, selling pressure intensified, pushing PI to a historic low (ATL) of $0.26, confirming that the downtrend is still ongoing.
• Risk Assessment: The RSI has deeply entered the oversold zone, which may trigger a short-term technical rebound, but weak buying support and sparse trading volume make it a high-risk trade. Unless buyers actively intervene, the PI looks set to continue its downward trend.

Other losers worth paying attention to

In a broader market, volatility shocks are severe: Syndicate (SYND) fell by 58%, leading the decline, followed by Fasttoken (FTN) down 54%, and OpenLedger (OPEN) dropping 50%, with momentum sharply cooling.

Conclusion

The past week in the crypto market has been a rollercoaster, experiencing severe fluctuations after massive liquidations, with a counter-trend rebound in mid-market cap tokens and accelerated declines in some alts. Although MYX and ZEC have shown some resilience, the violent fluctuations of ASTER remind us that high rises often come with high risks. Investors need to be wary of the bear market structures of tokens like PUMP and PI, and pay attention to potential entry opportunities after strong corrections like Story (IP). As always, stay vigilant, do your own research, and trade wisely.

What is your opinion on Zcash (ZEC)'s continuous rise over four weeks, demonstrating resilience amidst the overall market decline?