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Crypto Chaos: The Wildest Winners and Losers of the Week!

BBG News

Ah, the crypto market—where fortunes are made, lost, and then made again, all while you’re still trying to figure out what a blockchain actually is. 🚀💸 This week was no exception, as the market decided to throw a tantrum instead of the usual Q2 cheer. Let’s dive into the madness, shall we?

  • Biggest gainers: Eos [EOS], Pendle [PENDLE], OKB [OKB].
  • Biggest losers: Immutable [IMX], Berachain [BERA], Jupiter [JUP].

So, the start of Q2 was supposed to be a fresh start, a new dawn, a chance for the crypto market to rise like a phoenix from the ashes. Instead, it decided to stay in the red, probably because it forgot to set its alarm clock. 🛌 Meanwhile, mid- and low-cap altcoins were having a field day, outpacing Bitcoin like it was standing still. Capital rotated into these assets like a game of musical chairs, driving double-digit gains and leaving Bitcoin to sulk in the corner.

Market winners

Eos [EOS]: Miner-free blockchain tops the chart

EOS [EOS] started Q2 with a bang, jumping 11.49% to $0.7129. It bounced back from a dip at $0.53, which is like getting up after a night of heavy drinking and still managing to make it to work on time. 🍻 The coin broke through its mid-January resistance level of $0.8864, gaining 6.73% and pushing its market capitalization above $1 billion on the 3rd of April. Over three days, EOS surged by 35.65%, making it the top-performing asset of the week. But, as with all good things, the rally was short-lived. By mid-week, the Relative Strength Index (RSI) entered overbought territory, triggering a wave of liquidations. EOS dropped over 12% in just two days, falling to $0.74 at press time. Trading volume declined by 44%, suggesting the bottom may not yet have been reached, and a deeper pullback could be looming. So, enjoy the ride while it lasts! 🎢

Pendle [PENDLE]: DeFi platform reclaims resistance

Pendle [PENDLE] posted the second-highest gains this week, surging 19.76% from $2.71 to $3.04. It began the week with an 11.74% surge, reaching $3.06. The DeFi platform successfully reclaimed the $3 resistance level after trading below it since February 22nd. However, its daily price action has been as volatile as a teenager’s mood swings. 📈📉 Holding this price point will be crucial, especially amid a 46.80% drop in volume and ongoing de-risking in the derivatives market. If volume and sentiment improve, a potential short squeeze could help PENDLE consolidate around its resistance. With no signs of overbought conditions yet, there remains room for further upside. But, as always, proceed with caution. 🚨

OKB [OKB] : Utility token holds mid-week rebound

OKB [OKB] made a late entry but has swiftly positioned itself as the third-largest weekly gainer, posting a 10.36% surge from $47.99 to $53.78. Opening Q2 with a modest 0.63% rebound after a sharp dip, OKB triggered a potential bull trap, with price action retracing over the next two days, hitting a low of $45.10. However, before a deeper correction could materialize, OKB staged a mid-week recovery, posting a 5.89% single-day rally on the 4th of April, indicating a potential reversal from the lower levels. OKB’s bullish patterns have historically followed two-week downtrends, typically preceded by accumulation phases. This trend has emerged again following the $54 peak on March 19th. A two-week downtrend was succeeded by notable accumulation starting on April 3rd. At the time of writing, the MACD was approaching a bullish crossover, and with trading volume increasing by 88%, strong bullish momentum appears to be building. If buying pressure sustains, OKB could climb further, with resistance at $55 and the potential to test new highs in the coming week. Currently, OKB is positioned for a potential breakout, making it a significant asset to watch. 🕵️‍♂️

Other notable gainers

Beyond the top performers, the broader market witnessed some remarkable price action. MIU [MIU] led the charge with a staggering 463.4% surge, dominating the top 1,000 tokens in terms of price appreciation. Saros [SAROS] and Cratos [CRTS] followed with substantial gains of 96.9% and 86.1%, respectively. It’s like the crypto market decided to throw a party, and everyone’s invited! 🎉

Market losers

Immutable [IMX]: Layer 2 token dips to two-year low

Immutable [IMX] continues to grapple with strong selling pressure, extending its downtrend into Q2, posting a 26.60% decline over the past week. The token has broken below the critical $0.50 support level for the first time in two years, now trading at $0.406. At press time, the Relative Strength Index (RSI) was deeply oversold, potentially signaling a reversal. However, with high market supply and diminishing volume, the path of least resistance appears to be to the downside, especially if $0.40 fails to hold as support. Additionally, with spot accumulation not yet kicking in and on-chain demand remaining low, it is difficult to confirm this as a strong demand zone. Unless this condition shifts, the downside risk remains significant, and IMX could face further declines before finding a solid support level. It’s like watching a slow-motion car crash—painful, but you can’t look away. 🚗💥

Berachain [BERA] : PoL chain closing in on top loss position

Closing in on Immutable with a 25.70% weekly drawdown, Berachain [BERA] has emerged as the second-largest underperformer of the week, retracting from $6.89 to $5.56. Over the past seven days, BERA has registered a notable 25.70% depreciation, plummeting from $6.89 to its current market price. This sharp correction positions BERA as one of the top losers in the market this week. This price decline has led to a market cap of $631.20 million with a circulating supply of 107.99 million BERA tokens. The downturn is attributed to market volatility, profit-taking, and broader sector corrections. While Berachain’s PoL mechanism continues to attract attention, caution is advised as the market remains highly volatile. Analysts anticipate a potential rebound, but fluctuations are expected. It’s like trying to predict the weather in London—good luck with that! 🌧️

Jupiter [JUP] : Solana DEX aggregator breaks support

Over the past week, Jupiter [JUP] has experienced a significant decline of approximately 22.52%, dropping from $0.486 to its current price of $0.3777. This decline has pushed JUP below the $0.50 support level, with volume metrics not yet supporting a recovery. Analysts attribute the recent price decline to factors including market volatility and profit-taking by early investors. Looking ahead, market forecasts suggest a potential rebound for Jupiter, with projections indicating possible price increases in the coming months. If a rebound occurs, the next resistance level would be around $0.58, where substantial resistance exists. However, before this can happen, flipping the current market value to a solid demand zone would be key. It’s like trying to climb a mountain with no ropes—risky, but potentially rewarding. 🧗‍♂️

Other notable decliners

In the broader market, several tokens have faced substantial losses. Act I: The AI Prophecy [ACT] led the declines with a dramatic 71.9% drop, followed by Undeads Games [UDS] and Keyboard Cat (Base) [KEYCAT], which saw declines of 55.1% and 51.8%, respectively, over the week. It’s like a horror movie, but with more zeros. 🎬

Conclusion

And there you have it—the weekly recap of the biggest gainers and losers. It’s crucial to bear in mind the volatile nature of the market, where prices can shift faster than a politician’s promises. Thus, doing your own research (DYOR) before making investment decisions is best. Or, you know, just flip a coin. 🪙

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2025-04-06 22:20

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