The past week has been choppy for the crypto market as whales like BTC and ETH struggled below key support level. However, cash flow has found a way out in utility chains and mid cap group.
๐ Weekly Winner
๐น $MYX : The brightest star of the week with a 17% increase to $3.04, marking the 5th consecutive week of price increase. The momentum come from the project internal rather than the general market cash flow. Bullish price structure has been confirmed, paving the way for a break of the $3 resistance.
๐ธ $LINK : Up 6.84% (to $13.8) right at the important reversal zone. On chain data show a whale scooping up $22 million in LINK, signaling a bottom and a potential V shaped recovery.
๐น $BCH : Up 8% (to $580). However, BCH is hitting the old resistance wall from October. A break of $600 is needed to confirm the trend.
The Altcoin Rocket group saw $GAIX soar 287% and the Terra system $LUNC, $USTC rebound strongly with triple digit gain.
๐ป Weekly Loser
๐ธ $CC: Down 25% and making a series of lower low. With a lack of spot buying and a negative derivatives market, $CC is at risk of further decline.
๐น $ZEC: Down 19%. After the miraculous 1,120% pump in September October, ZEC is under strong profit taking pressure from Holder. This is considered a necessary correction cooldown rather than a collapse.
๐ธ $MORPHO: Down 15%. The Bull failed to break out after 3 months of accumulation, pushing the price close to the psychological threshold of $1.0. If this level is broken, the price may slide to $0.80.
The market is extremely polarized Mid cap have their own stories like MYX, LINK that are attracting money, while previously hot coin ZEC are being mercilessly sold for profit.
In your opinion, should we follow the wave of flying coins or catch a falling knife of coin that are deeply adjusting this week?
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