Bitcoin [BTC] was down by another 3% over the past week, having fallen 3.8% the previous week. The altcoin market cap was down by 1.52%, meaning that Bitcoin has registered more losses than the altcoin market put together.
Nevertheless, many of the top 50 crypto assets by market cap were in the red due to Bitcoin’s correction and the wider market fear. A few select tokens outperformed the market by a wide margin.
Let’s take a closer look at these outperformers and their bearish counterparts.
Weekly winners
TAO at the helm of bullish altcoins once more
The move above $302 earlier in March broke the 1-day structure bullishly. Last week, a local high at $310.6 was breached (dotted orange), showing a bullish structure break. In other words, Bittensor experienced a bullish price structure on multiple timeframes.
The rally last week reached from $261.1 to $377.8, a whopping 44.7% move at its zenith. It has since receded to the 50% level. To the south, the $286 and $305 are key retracement zones to keep an eye on.
So long as the price is above $261, the bullish chances of TAO remain strong.
Memecore eclipses major memecoins with a 33% move
Glassnode data showed that the memecoin sector has been an outperforming one over the past week. It was up 5.8%, while Bitcoin and Ethereum [ETH] were down by 3.5% and 5%, respectively.
Memecore’s strong gains likely boosted the overall memecoin market cap. Another meme, siren [SIREN], also contributed.
Other popular memes such as Dogecoin [DOGE], Shiba Inu [SHIB], and Pepe [PEPE] have moved less than 0.5% each.
Canton rockets to local highs after being in retracement mode in March
Canton was a surprise weekly winner. It rallied 13.47% in 12 hours on Saturday, the 28th of March. The higher timeframe price structure was bullish, but CC has been retracing from $0.19 to $0.14 since the first week of February.
Towards the end of February, it saw a rally that challenged the local high at $0.175, measuring almost 9% in a day, before the retracement continued. A similar scenario can play out once again.
Other notable winners
DeXe [DEXE] and Artificial Superintelligence Alliance [FET] were up 18.5% and 11.8% for the week. Chiliz rallied by 11.9% over speculation of increased fan token activity for the upcoming FIFA World Cup 2026.
Midnight [NIGHT] rallied almost 9% but continued to labor within a downtrend, having faced rejection at $0.065 at the start of March. Ondo [ONDO] also rallied by 8.4% as RWA inflows bolstered its narrative.
Weekly losers
Polkadot sinks back to February support
DOT has been in down-only mode on the price charts over the past week. The mid-March support at $1.40-$1.45 was tested on Monday, the 23rd of February. It held for a brief time but was broken by the selling pressure a day later.
At the time of writing, the $1.25 support from early February was under siege. The RSI was forming a bullish divergence with the price in recent days, which could yield a price bounce soon.
Aave racks up considerable weekly losses
Popular DeFi protocol Aave continued its six-month downtrend and notched up 10.7% loss for the week. The $100-$105 support zone from February was finally breached.
Rising exchange reserves reinforced selling pressure. As things stand, more losses remain likely for the altcoin.
NEAR Protocol prices test $1.3 as resistance before sliding lower
The relative strength of the AI sector has faded away, with only a few tokens showing remarkable strength. NEAR was not one of them, having shed 9.7% over the past week.
The $1.3 and $1.2 levels had been interim supports established earlier in the month but had fallen below them both and were at $1.16 at the time of writing.
Other notable losers
The erratic crypto AI sector token performance was highlighted by Internet Computer [ICP] falling 7.1% for the week. The sector has tokens in both categories, showing that select, strong altcoins and evolving narratives are what traders should look out for.
Ethena [ENA] and Mantle [MNT] shed 6.5% and 7.2%, respectively. Worldcoin [WLD] was another standout weak performer, with a weekly drop of 12.5%.
Bitcoin is at a decision point, but volatility could still hit hard
It was encouraging that Bitcoin was able to defend the $65.6k local lows, and Ethereum continued to remain above $2,000. This stability could be fragile. Oil-driven inflation and escalations in the Middle East could put further stress on the crypto market.
Final Summary
- DeXe and FET continued their stellar performance, with Bittensor being a leading bull in the altcoin sector.
- Memecore and SIREN performances gave a positive spin to an otherwise stagnant memecoin market.
