The global cryptocurrency market experienced a notable recovery last week, recording a 2.79% increase and ending with a market capitalization of $2.21 trillion.
This growth contributed an additional $60 billion to the overall market valuation.
Bitcoin (BTC) led the rally, but several altcoins significantly contributed to the market’s resurgence. Here are some standout performers from last week:
SUI Surges by 28%
Sui (SUI) demonstrated remarkable performance last week, climbing 28% from $1.75 to $2.24. The most substantial gains occurred during the market recovery on October 11 and 12, during which SUI increased by 21%.
Despite a 5.60% drop on October 9 following a bullish announcement involving a stablecoin, SUI is currently trading at $2.2266, exceeding the upper boundary of the Keltner Channel at $2.2186, indicating potential overbought conditions.
This suggests that while momentum remains strong, a period of consolidation or a minor correction may be on the horizon unless buying pressure continues. With high trading volume, bulls could capitalize on this moment.
The Aroon Up is currently at 100%, while Aroon Down sits at 28.57%, indicating a weak downtrend. Should Aroon Down rise this week, it may signal growing bearish pressure, with potential support at $1.8286.
CHZ Approaches 4-Month High
Chiliz (CHZ), which powers the Chiliz blockchain, capitalized on broader market momentum last week, maintaining its rounded bottom structure amid a trend of lower lows.
The altcoin concluded the week with an 11.8% increase, showcasing impressive spikes throughout the week. On October 9, CHZ reached a 4-month peak of $0.0784 before facing obstacles.
In the new week, Chiliz achieved another 9% rally, pushing it above the upper Bollinger Band at $0.0752. A retest and bounce at this level would indicate sustained strength in the current uptrend.
However, if the price falls below the upper Bollinger Band, traders should monitor the 20-day MA at $0.0663, which serves as key support above the $0.06 psychological region.
COIN Achieves Six Consecutive Bullish Days
Last week, 8-Bit Coin (COIN) recorded six bullish days out of seven. Similar to the rest of the market, COIN started the week strong and maintained its upward trend from October 7 to 10, despite broader market corrections.
The only bearish day occurred on October 9, with a 2.78% drop, yet it continued a trend of lower lows from October 4, ultimately closing the week with an impressive 22% rise.
8-Bit Coin’s strongest performance featured a neutral Relative Strength Index (RSI) of 56.49, indicating further upward potential. If bullish momentum continues, the next resistance level will be at $0.0007335, followed by $0.00008016. Maintaining the crucial Pivot level at $0.0006232 is essential to avoid potential bearish momentum.
