The global cryptocurrency market saw a significant increase of $140 billion, rising by 6.3% to end the week above $2.35 trillion, reaching a two-month high. Bitcoin (BTC) led the way in the market recovery, surpassing $68,000 and igniting a strong rally in the altcoin market.
One of the standout performers of the week was Dogecoin (DOGE), which experienced seven consecutive days of gains, closing the week at $0.144, a four-month high. DOGE saw a 27% increase, marking its best weekly performance since late February. However, the recent uptrend may face challenges, with the Dogecoin CCI spiking to 247. To maintain its momentum, DOGE will need to stay above $0.137 to avoid falling to the 20-day SMA support at $0.116.
ApeCoin (APE) struggled for most of the week but saw a late surge following the mainnet launch of ApeChain, the project’s blockchain. APE closed the week at $0.87, up by 20%. The token surged by 54% to surpass the $1 mark for the first time in four months. Despite this positive momentum, APE’s RSI crossed into overbought territory at 85, indicating a potential exhaustion of the rally. A drop below $1 could lead to further declines.
DIA (DIA) started the week on a bearish note but managed to outperform many assets by the end of the week. The token spiked by 42% on October 17, reaching $1 for the first time in two years. After a minor correction of 8% the next day, DIA continued its upward trend, gaining another 14% on October 19. This resulted in a 44% increase for the week, hitting a high not seen in 32 months. The token’s monthly volume also reached a record high of 716 million DIA.
DIA’s +DI surged to 40.28, confirming strong bullish momentum, while the ADX at 50.19 indicated a particularly robust push. However, this could also signal an overextension of the rally, potentially leading to a correction in the near future. Investors should keep a close eye on DIA’s performance in the coming days to gauge the sustainability of its uptrend.
