Crypto market’s weekly winners and losers – TAO, HYPE, PI, NIGHT

For the second time in March, Bitcoin faced rejection at the $74k supply zone. The latest rejection came on Friday, the 13th of March, but Bitcoin and most of the rest of the crypto market saw gains over the past week.

It is possible that Bitcoin’s defense of the $70.5k level on Saturday would lead to another move higher next week. This could maintain the past week’s momentum for altcoins.

Weekly winners

TAO rallies over 50% as AI coins grab the spotlight

Glassnode data showed that the crypto AI sector yielded a 20.6% gain over the past week. The second-best performing sector was the L2 tokens, whose cumulative market cap was up 10% for the week.

Within the crypto AI sector, Bittensor [TAO] was the strongest-performing altcoin. TAO was up 48.1% in a week. The daily RSI was at 76 to show intense bullish momentum, and the OBV was making new highs to signal heavy demand.

A word of warning for would-be TAO buyers. The AI token has a bearish swing structure, and the $268 level was the 78.6% Fibonacci retracement. It is possible that TAO would face rejection here and fall in the coming days.

FET and RENDER contribute to the sizeable weekly AI token gains

Render [RENDER], DeXe [DEXE], and Artificial Superintelligence Alliance [FET] also posted remarkable gains over the past week. They were up 32.2%, 46.6%, and 31.4%, respectively.

FET and RENDER have both reached a local supply zone, which could hold up the rally. DEXE has made new local highs and could push toward $7.4 next.

HYPE rallies 25% as demand for 24/7 oil contracts market increases

AMBCrypto reported that the decentralized trading platform saw $1.2 billion in daily volume. Geopolitical tensions when traditional markets are closed mean that on-chain markets reflect risk signals earlier than traditional Futures.

The high trading volume came alongside the bullish HYPE price structure. These factors helped explain the strong Hyperliquid performance.

Other notable winners

Official Trump [TRUMP] shrugged off its long-term downtrend and rallied 33% over the past week. The memecoin reached a high of $4.49 on Friday, the 13th of March.

Another notable winner was Bitcoin. Against the profit-taking pressure and macroeconomic stress, BTC bulls managed to defend the $70k psychological support.

The Bitcoin Dominance rose slightly over the past week, too, showing the leading crypto was gaining an advantage over the rest of the market.

Weekly losers

Pi bulls lose market control at $0.3 highs as trend reverses

Pi Network token prices made a bullish 1-day timeframe structure shift in March and forced a rally all the way to the $0.3 resistance. This level has been in place since October but remained unbroken.

PI bears have forced prices to retrace all the gains made over the past week, from $0.195 to $0.299. The price drop below the local lows meant that further losses were likely.

Bullish catalysts fail to boost NIGHT into an uptrend

A Spot listing on Binance on Friday and the Midnight City sim news from the end of February were some recent developments that failed to bullishly impact prices. Over the past week, NIGHT has shed 9.7%, showing weakness compared to the rest of the altcoin market.

Memecore bulls fail to reclaim mid-range resistance

Memecore was unable to climb past the $1.57 mid-range resistance. This level has opposed bullish expansion since mid-February. After PI, M was another token that was unable to sustain the momentum of the previous week.

Other notable losers

Polkadot [DOT] and Worldcoin [WLD] were down 1.86% and 3.79% over the past week. OKB, which was a notable winner the previous week, also witnessed a 3.3% price slide.

These exhibitions of relative weakness against the wider market was a slight worry for holders. A sell-off can have a greater impact on these tokens due to their short-term relative weakness.

Expect another green week for crypto

The Bitcoin defense of the $70.5k level on Saturday was an encouraging sign. It could be an early signal that BTC would continue its rally beyond $74k next week.

The shift in market sentiment can see capital flow into altcoins, boosting their prices in the process.

Final Summary

• The crypto AI sector was the standout performer last week. Its weekly gains of 20% stood head and shoulders above other sectors.
• Pi Network was unable to sustain the previous week’s bullish momentum, while NIGHT and M struggled to keep the sellers at bay.