Crypto market’s weekly winners and losers – HBAR, CRV, RAY, XLM

Hedera, Curve DAO Token, and IOTA were the biggest winners of the past week.
Core, Raydium, and Stellar Lumens were the biggest losers of the past week.

After delving into this week’s cryptocurrency market performance, I can confidently say that it was a rollercoaster ride for investors like myself who are always on the lookout for the next big thing in digital assets.

This week, the cryptocurrency sector was bustling with activity, and Hedera (HBAR) truly shone, recording a remarkable increase of about 86%.

As a researcher, I’ve observed some significant movements in the crypto market. Alongside HBAR, both Curve DAO (CRV) and IOTA (IOTA) have experienced impressive surges. On the other hand, Core DAO (CORE) has been grappling with selling pressure, which seems to be negatively impacting its performance.

This week’s market overview features an analysis of the leading stocks with significant gains or losses, along with insights into the potential market trends based on their price fluctuations.

Biggest winners

Hedera [HBAR]

This previous week, HBAR stole the show, standing out as the top performer by surging an impressive 86.07%.

Starting the week at $0.20868 after an impressive 22.49% rise, HBAR built on its momentum with a staggering 49.34% spike the following day, reaching $0.31165.

Each day’s graph showed a positive pattern, as the 50-day moving line (at $0.11828) surpassed the 200-day moving line (at $0.07955). This was known as a ‘golden cross’, indicating a bullish trend.

In simpler terms, when the Relative Strength Index (RSI) reached 74.59, it signaled that the market was overbought. This could mean that the market might experience a temporary pause (consolidation) or a slight adjustment downwards (minor correction) in the near future.

Simultaneously, the MACD was still above zero, suggesting ongoing bullish energy, but its graph hinted at a decrease in strength.

By the close of the workweek, HBAR experienced some selling pressure that led to a dip of approximately 9.65%, causing its value to settle at $0.33250.

Despite the dip, HBAR has maintained its upward trajectory, supported by strong trading volumes. Its market capitalization was $12.6 billion.

Also, its volume was $1.9 billion but had declined by almost 50% in the last 24 hours.

Curve DAO Token [CRV]

Over the last seven days, Curve DAO demonstrated outstanding growth, ranking second among all cryptocurrencies with a significant jump of 83.78%. This information is based on statistics provided by CoinMarketCap.

The first day of the week started off somewhat unfavorably as CRV experienced a dip of approximately 1.57%, bringing its value down to roughly $0.670. But then, the market took a turn for the better in favor of CRV, sparking a strong bullish trend that persisted for the following three days.

On its fourth day, CRV experienced a significant surge, reaching around $1.09. This impressive climb was fueled by rising trading activity and robust buying demand.

Although the overall trend showed a rise, CRV experienced a minor setback towards the end of the week and finished at $1.17, representing a nearly 6% drop from its mid-week high point. The resistance level was approximately $1.20, while the nearest support level was around $1.05.

IOTA [IOTA]

Last week saw an impressive surge for IOTA, placing it among the top three performers with a substantial 79.58% rise. The upward trend kicked off on Monday with a robust 12.39% spike, which lifted its value to $0.3085.

This increase sparked a wave of optimistic energy that extended into subsequent days, leading to notable price peaks.

On the fourth day of the week, the value of IOTA peaked at $0.4942, boosted by escalating trading activities and heightened investor attention.

As a researcher, I’ve observed an upward trend that significantly surpassed both my 50-day and 200-day moving averages, a clear indication of robust optimism in the market, suggesting a bullish momentum.

As a researcher, I observed that although Iota demonstrated robust performance, it ended the week at $0.4857, just below its mid-week high. This slight dip suggests profit-taking actions, yet it doesn’t disrupt the coin’s broader uptrend trajectory.

Currently, the market value for IOTA is approximately $150 million. However, over the past 24 hours, its value has decreased by nearly 70%.

Top 1,000 gainers

Outside the top 100, this week’s top gainer, MiniDOGE [MINIDOGE], surged by over 2,467%.

In the top performers list, Migglei (MIGGLEI) and Sui Monster (SUIMON) were the second and third biggest winners, experiencing gains of more than 1,685% and over 1,618% respectively.

Biggest losers

Core [CORE]

Core DAO [CORE] experienced a challenging week, marking it the biggest loser among cryptocurrencies with a 10.78% decline. The week began with a sharp 18.78% drop, pulling its price to $1.59.

During the first days, a dip in performance established a pattern of ups and downs, with team CORE finding it challenging to recover their positive trajectory.

Although there were some efforts made to recover, the overall trend was downward, as improvements were not consistent enough to offset losses. The market’s mood and trading activity didn’t provide the necessary foundation for a lasting improvement.

At the conclusion of the current week, the closing price for CORE stood at $1.56. This slight increase indicates a tentative improvement, yet it continues to hold the title of being the poorest performing asset during this particular period.

In simpler terms, the value of CORE has been trending downwards due to a high volume of sellers, and it’s currently trading below key points around $1.70 that usually act as a barrier for increased buying activity.

Raydium [RAY]

Raydium’s digital token, RAY, concluded the week as the second-largest weekly decreaser, experiencing a 6.29% fall. The downtrend initiated on Monday with a 3.30% decrease, lowering its value to around $5.271.

Throughout the week, RAY experienced ups and downs in pricing, attempting small rebounds, yet a predominantly pessimistic outlook tainted its overall progression.

RAY’s price fluctuations indicated that the market was hesitant, as investors found it challenging to determine a consistent trend.

The trading activity stayed at a regular level, indicating sustained investor attention, yet it wasn’t high enough to counterbalance the forces pushing prices down.

As I review the market’s closing prices by the end of the week, I find that we ended at a price point of $5.094. This closing figure indicates a general downward trend in performance, despite our efforts to instill some stability within the market.

Stellar Lumens [XLM]

Last week saw some turbulence for Stellar Lumens [XLM], ultimately placing it among the top three weekly losers with a relatively small drop of about 2.95%. Kicking off the week on a high note, XLM registered a significant 6.46% increase to reach $0.559508.

Over these past few days, the initial enthusiasm about XLM quickly faded away due to persistent downward pressure, which resulted in a steady decrease in its value.

As an analyst, I observed today that Stellar (XLM) surpassed its 50-day moving average at approximately $0.251592, suggesting a continuous, medium-term bullish trend.

On the other hand, an RSI reading of 61.77 suggested a minor relaxation from excessively high levels, implying a period of consolidation might be taking place.

As the MACD (Moving Average Convergence Divergence) indicator showed signs of diminishing bullish strength, its graph became more compact, and the MACD line was moving closer to crossing below the signal line, suggesting a potential shift towards bearish trends.

At the end of the week, XLM experienced a small recovery, closing at $0.504212, which represented a modest 1.5% increase during the last trading day.

This slight recovery underscores resilient support near $0.500000, but the overall market sentiment remains cautious. Its market capitalization was around $14.58 billion as of this writing.

Top 1,000 losers

As a seasoned investor who has seen countless market fluctuations throughout my career, I must say that this week’s performance of certain cryptocurrencies was truly eye-opening. Among those outside the top 100, The Protocol [THE] took the lead as the week’s most significant loser with a staggering over 98% decline. This is an unprecedented fall for any asset in my experience.

Conclusion

Let me share with you this week’s rundown highlighting the top performers and underperformers. Keep in mind that the market is quite dynamic, meaning prices tend to change swiftly due to various factors.

Thus, doing your own research (DYOR) before making investment decisions is best.

2024-12-08 22:17