The global cryptocurrency market ended last week on a bit of a sour note, with a 7% decrease resulting in a loss of $160 billion, bringing the total market cap down to $2.15 trillion. While Bitcoin played a significant role in influencing the market, some altcoins took their own paths, benefiting from unique developments within their ecosystems.
One of the cryptocurrencies that experienced a tough week was Hamster Kombat (HMSTR), which saw an 18% drop to $0.004714. The coin faced its worst day on Oct. 1, losing 13.94% amidst wider market turmoil due to geopolitical tensions. Despite the downtrend since its airdrop on Sept. 26, the four-hour chart for HMSTR shows some signs of recovery, with the RSI trending upwards and the DMI indicating slight buyer momentum. However, whether this recovery will continue depends on the strength of buying momentum this week.
On the other hand, Sui (SUI) demonstrated resilience last week, only dropping 0.3% despite market volatility. The coin experienced a significant decline of 10.38% on Oct. 3, the largest intraday crash in three months. SUI appears to be forming a bull pennant pattern, with the Bollinger Bands and the 20-day MA providing resistance and support levels respectively. Investors should keep an eye out for a potential breakout above $1.97, which could signal bullish momentum for the week.
In contrast to many other assets, FTX Token (FTT) performed exceptionally well last week, gaining 22% amidst a market decline. The Williams Percent Range indicates that FTT is nearing overbought territory but still has room for further gains. As the coin experiences a 9% retracement this week, bulls will need to defend the Pivot support at $2.01 to prevent a shift towards bearish territories. A breakout above the resistance level at $2.68 could continue the bullish momentum for FTT.
Overall, the cryptocurrency market remains volatile, with each coin charting its own course amidst broader market movements. Investors should closely monitor these cryptocurrencies this week to capitalize on potential opportunities for gains.
