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You know when you're following the news in the cryptocurrency market and see some pretty crazy movements in certain tokens while everything else stays the same? Well, last week was exactly like that.
Bitcoin continues that up-and-down game, but what really caught attention were some altcoins rising while everything else was falling. The TAO (Bittensor) was the biggest highlight – people following technical analysis are seeing a bullish structure break across multiple timeframes. It shot up a lot back then, but now it's floating at interesting levels for those keeping an eye on it.
Another thing that happened was the memecoin sector waking up out of nowhere. Memecore went from 0 to 100, and even SIREN joined the party. Meanwhile, classics like DOGE, SHIB, and PEPE didn’t make much noise. CHZ also had a nice move with the World Cup story. And then there’s DeXe and FET, which kept going strong, even as the rest of the market slowed down.
Now, the losers... DOT dropped quite a bit, testing support levels from February. AAVE has been in a downtrend for months, with more losses seemingly on the way. NEAR also didn’t help much, falling while the AI sector in general is a bit erratic. And WLD? That one took a pretty significant hit this week.
ICP, ENA, and MNT also had their rough moments. It seems the market is being pretty selective – some tokens are booming while others are crashing. Bitcoin and Ethereum are holding above certain levels, but volatility could return strongly if external conditions worsen.
Basically: selection is everything in this market. Some tokens with strong narratives are rising, but most are feeling the pressure. It’s worth paying attention to the support and resistance levels that people are monitoring.