New York, NY – Cryptocurrency markets experienced a mix of performances this week, with Core, Bittensor, and the Artificial Superintelligence Alliance leading the way in gains. On the flip side, Mantra, Movement, and Walrus faced significant underperformance.
The week kicked off with a bearish sentiment as Mantra suffered a sharp crash, causing widespread risk-off behavior. Despite this, AI-focused assets managed to defy the trend and capitalize on market uncertainty, resulting in double-digit returns and securing top spots on the weekly gainers’ chart.
Core, an L1 blockchain, saw a significant rebound, surging 32.45% and breaking through a crucial resistance level after two months of consolidation. However, caution is advised as overbought conditions start to emerge, potentially signaling a need for a technical correction.
Bittensor, an AI-focused protocol, also broke through a key resistance level with a 20.83% weekly surge. The Relative Strength Index (RSI) indicated a bullish divergence, suggesting a shift in momentum favoring the bulls. This aligns with the idea of AI-native tokens outperforming in a risk-off environment.
The Artificial Superintelligence Alliance logged an 18% gain for the week, trailing closely behind Bittensor. While the token has broken above a significant resistance level, it still faces resistance at a higher level, which could trigger a short-term reversion if volume fails to expand.
Other notable gainers such as Voxies, Lofi, and NKN also saw impressive price action, outperforming many tokens in terms of momentum.
On the other end of the spectrum, Mantra closed the week as the worst performer, tumbling by a staggering 90.54% after a deleveraging event caused a freefall. Movement and Walrus also experienced significant declines, showcasing continued bearish momentum in the market.
Overall, the cryptocurrency market remains inherently volatile, highlighting the importance of thorough due diligence before making any investment decisions. With rapid price fluctuations being common, investors must stay informed and cautious to navigate the ever-evolving landscape of digital assets.