Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Bitcoin was rejected in the $74,000 supply zone for the second time in March. The latest rejection came on Friday, March 13, but Bitcoin and much of the rest of the crypto market saw gains last week.
It is possible that Bitcoin’s defense at $70.5K on Saturday could lead to a higher rise next week. This could maintain last week’s momentum for altcoins.
Weekly winners
TAO rallied over 50% as artificial intelligence coins gained attention
Glassnode data It showed that the crypto AI sector gained 20.6% last week. The second best performing sector was L2 tokens, whose cumulative market cap increased by 10% during the week.
Inside crypto artificial intelligence industryBittensor (TAO) was the strongest performing altcoin. TAO It increased by 48.1% in one week. The daily RSI was at 76, indicating intense bullish momentum, and the OBV was making new highs to signal heavy demand.
A word of caution for TAO buyers. The AI token has a bearish swing structure and the $268 level was a 78.6% Fibonacci retracement. It is possible that TAO will be rejected and fall here in the coming days.
FET and RENDER contribute to weekly AI token gains
Render (RENDER), DeXe (DEXE) and the Artificial Superintelligence Alliance (FET) also made notable gains last week. They increased by 32.2%, 46.6% and 31.4% respectively.
FET And GIVE Both reached a local supply zone that could keep the rally afloat. DEXE It has reached new local highs and could move towards $7.4 next.
HYPE rises 25% as demand for 24/7 oil contracts market rises
AMBCrypto reported What the decentralized trading platform sees $1.2 billion in daily volume. Geopolitical tensions while traditional markets are closed mean that on-chain markets reflect risk signals sooner than traditional Futures.
High transaction volume came with the rise HYPE price structure. These factors helped explain the strong Hyperliquid performance.
Other notable winners
Official Trump (TRUMP) shrugged off the long-term downtrend and surged 33% last week. Memecoin rose as high as $4.49 on Friday, March 13.
Another notable winner is bitcoin. Opposite profit taking pressure And macroeconomic stressBTC bulls managed to defend the psychological support at $70,000.
Bitcoin Dominance also rose slightly last week, showing that the leading cryptocurrency is gaining an advantage over the rest of the market.
weekly losers
Pi bulls lose control of market at $0.3 top as trend reverses
Pi Network token prices changed the 1-day bullish time frame structure in March, causing a rally to the $0.3 resistance. This level has existed since October but has not been broken.
PI bears forced prices to retrace all gains made last week from $0.195 to $0.299. A drop in price below local lows meant further losses were likely.
Bullish catalysts failed to push NIGHT into an uptrend
A. Spot listing on Binance Midnight City simulation news on Friday and at the end of February were some new developments that failed. affects prices upwards. Last week NIGHT dropped 9.7%, showing weakness compared to the rest of the altcoin market.
Memecore bulls fail to regain mid-range resistance
Memecore failed to exceed $1.57 mid range resistance. This level has been bucking the upward trend since mid-February. After PI, M became another token that failed to sustain its momentum. previous week.
Other notable losers
Polkadot (DOT) and Worldcoin (WLD) fell 1.86% and 3.79%, respectively, last week. OKB, which had a remarkable victory last week, also experienced a 3.3% price decrease.
This display of relative weakness against the broader market was a source of mild concern for shareholders. Selling may have a greater impact on these tokens due to their short-term relative weakness.
Expect another green week for crypto
Bitcoin’s defense at $70.5K on Saturday was an encouraging sign. This could be an early signal that BTC will continue its rise above $74,000 next week.
A change in market sentiment could result in capital flows into altcoins, increasing prices in the process.
Final Summary
- The crypto AI sector was a standout performer last week. Its weekly gain of 20% was far above other sectors.
- Pi Network failed to sustain the previous week’s bullish momentum; NIGHT and M, on the other hand, had a hard time keeping sellers away.
