Key Takeaways
Which crypto tokens were the highest gainers this week?
MYX Finance [MYX], Pi [PI], Bitcoin Cash [BCH] led the week in gains.
Which crypto tokens lost the most this week?
Dash [DASH], Starknet [STRK], Canton [CC] saw significant declines.
This week, the crypto market saw a sharp drop.
Bitcoin [BTC] fell toward $80k and the total crypto market cap shed hundreds of billions of dollars amid concerns over rate-cuts. Overall, at both the micro and macro level, conditions turned broadly bearish.
Still, a few coins managed to stand out. Even with the risk-off mood keeping their gains limited to double digits, they held their ground. It showed that some parts of the market were stronger than the rest.
Weekly winners
MYX Finance [MYX] — DeFi protocol broke away from the market slump
MYX Finance [MYX] led this week’s gainers with a 15% rally. The move stands out from the broader market, and on-chain flows suggest it’s not just hype, as AMBCrypto noted.
In fact, the week started near key resistance. After last week’s 17% run and a close at $2.6, MYX dipped 5%, letting bears step in. But a 13% bounce the next day quickly regained momentum, keeping bulls in control.
Moreover, MYX saw a 17% dip to $2.5 on the 21st of November, but bounced back 8% by week’s end. Bulls haven’t fully recovered the losses, yet the daily chart still shows a solid bullish structure.
Source: TradingView (MYX/USDT)
This month alone, bulls have shrugged off six bear attempts.
As the chart above shows, each red candle has been followed by three to four green ones, showing bulls are clearly holding control. With $2.5 likely flipping from resistance to support, MYX remains in a bullish zone.
Pi [PI] — Mobile-first crypto lingered just under key resistance
Pi [PI] emerged as the second-biggest gainer this week with a 6% rally. While smaller than MYX’s double-digit jump, the move is supported by solid regulatory developments.
For context, Pi is set to operate under the EU’s MiCA (Markets in Crypto-Assets) framework, which will allow trading on exchanges like OKX Europe, adding a structural layer that could support future growth.
Technically, though, the coin is still showing some weakness.
After an early-week 8% spike to $0.26, Pi slid back to $0.23 by week’s end, failing to break through key resistance. While the rally shows potential, it also highlights that bulls haven’t fully taken control yet.
Bitcoin Cash [BCH] — Payments-focused chain kept bulls firmly in control
Bitcoin Cash [BCH] jumped 13% this week. Moreover, it snapped a three-week losing streak. Consequently, the rally pushed RSI up 20 points to 60, though FOMO hasn’t really kicked in yet.
BCH started the week strong but pulled back to 9% mid-week. A 15% rebound over the next two days brought it back to late-October levels around $550, a key level it hasn’t held since the crash.
An intraday dip of 1.66% at press time shows bears are testing the market and some holders are taking profits. If bulls defend $550, a short squeeze could break resistance, making this a make-or-break week for BCH.
Other notable winners
Outside the majors, altcoin rockets stole the spotlight this week.
BabyBoomToken (BBT) led the charge with a massive 370% jump, followed by Tensor (TNSR) climbing 133%, and Audiera (BEAT) rounding out the leaderboard with a strong 124% gain.
Weekly losers
Dash [DASH] — Payments-focused crypto slid into double-digit losses
Dash [DASH] led this week’s losers with a 28% drop, wiping out over 75% of its monthly gains after breaking $70 resistance. The weekly RSI shows the market was clearly overextended.
As AMBCrypto noted, the dip was mostly driven by overextended derivatives, while spot demand remained solid. In other words, futures traders were just closing positions and deleveraging.
On the charts, DASH is now testing the $60 floor, which back in late October triggered a rally to $120. With privacy tokens gaining traction, this pullback looks like a healthy reset rather than a full sell-off.
Source: TradingView (DASH/USDT)
In that case, a rebound could be just around the corner.
Strong spot support, deleveraging in derivatives, and renewed market interest suggest DASH may flip $60 into support. If that happens, next week could be crucial in setting its near-term direction.
Starknet [STRK] — Layer-2 network stalled after hitting resistance
Starknet [STRK] was the second-biggest loser this week, dropping 25% from its $0.21 open. The weekly chart shows weak bid support, with bulls failing to defend key levels.
This pullback comes after two weeks of strong uptrend, where STRK rallied about 70%. Around 20% of those gains are already gone, and bulls haven’t shown up on the daily chart yet.
After peaking at $0.27 mid-week, STRK gave back all its gains over three straight red candles. If bulls can flip $0.15 into support, a rally could kick off; if not, the coin might see a deeper sell-off.
Canton [CC] — Interoperability chain reversed last week’s gain
Canton [CC] was the third-biggest loser this week, falling 20%. On-chain data suggests this isn’t a healthy reset or cooldown, making CC technically the most bearish among the three.
Reinforcing this, the week started with a 1.7% bounce after last week’s breakdown to $0.11, which could have been an opportunity for bulls to step in and accumulate.
However, there was a lack of interest from buyers, resulting in CC displaying five consecutive red candles, indicating a sustained selling pressure. This pattern suggests that the current “dip” may not be a clear buying opportunity yet, signaling a distribution phase where sellers continue to dominate.
Other significant losers
In the broader market, there was a significant increase in downside volatility. SOON (SOON) experienced the biggest loss with a sharp 73% decline, followed by Rekt (REKT) dropping 52%, and Saros (SAROS) slipping 50% as momentum cooled down rapidly.
Conclusion
This week was full of ups and downs, with major price surges, sudden drops, and continuous market activity. It’s essential to remain vigilant, conduct thorough research, and make informed trading decisions.