Crypto market’s weekly winners and losers – CC, DASH, PIPPIN, MYX

The crypto market was quiet and range-bound this week.

However, legacy markets saw notable inflows into safe-haven assets, with gold, silver, and platinum rising in tandem, raising investor concerns about economic stress and keeping risk assets under pressure.

Despite this, select assets still managed to outperform the broader market.

Weekly winners

Canton [CC] — Smart-contract platform delivering back-to-back gains

Canton [CC] topped this week’s gainers chart with a solid 20% rally, making this weekly run a strong FOMO-trigger. For context, CC has been on a roll lately with back-to-back weekly gains, averaging 20% per week.

Naturally, the question remains: Is it too much too soon? From a technical perspective, the RSI on CC’s daily chart still shows room to run, with no overextension signal yet. Supporting this is CC’s strong bullish conviction.

The week began with a 9% dip, which, following last week’s 37% rally, could have easily triggered panic selling. Yet, a 13% rebound over the next few days reinforced CC’s bid support.

Notably, this follow-through pushed CC past the $0.117 resistance zone. 

Additionally, AMBCrypto recently highlighted strong spot accumulation driving this rally. With both technical and on-chain support, Canton looks poised for another strong week, potentially targeting the $0.12 level next.

Zcash [ZEC] — Privacy token reached a key inflection point

Zcash [ZEC] was the second-biggest weekly winner with a 17% pop. Looking at the weekly chart, this move looks like a classic accumulation phase, especially after ZEC’s big November sell-off.

For context, ZEC posted a 60%+ decline, wiping out all previous month gains. Remarkably, 100% of these losses occurred in just three weekly candles, a classic HODLer sell-off.

Given this setup, ZEC’s back-to-back uptrend appears to be solid accumulation, confirming $300 as the base. If this trend holds, a breakout toward the $600 zone could be closer than expected.

DASH [DASH] — Digital coin showed much-needed bullish momentum

DASH [DASH] grabbed third place among weekly gainers with a 16% bounce, tracking close to ZEC. That said, unlike ZEC, this move doesn’t yet look like full accumulation.

Technically, DASH just printed its first green weekly close after six straight red weeks, dropping from the $150 November high to around $44. That kind of drawdown makes a confirmed bottom too early to call.

For now, $50 is the key level. A clean break and hold there keeps momentum alive. If bulls can defend higher levels over the next few weeks, DASH may start shaping a proper bottom and a potential trend reversal.

Other notable winners

Outside the majors, altcoin rockets stole the spotlight this week.

Islamic Coin [ISLM] led the charge with a 143% jump, followed by NUMINE Token [NUM] climbing 101%, and Apro [AT] rounding out the leaderboard with a 75% gain.

Weekly losers

Pippin [PIPPIN] — Digital currency ran into resistance this week

Pippin [PIPPIN] topped this week’s losers chart with a 10% dip. Notably, this marks an extremely volatile week for PIPPIN, which started bullish but ended on a bearish note.

Looking at its daily chart, PIPPIN remains caught in a tight bull-versus-bear zone. The week began with a 15% dip following its breakout past the $0.50 resistance, but a 28% rebound the next day reinforced bid support.

Momentum, however, was short-lived. 

Over the next two days, PIPPIN posted another 11% rally, bringing the mid-week total gain to 20%. Yet, with the weekly close at -10%, the end of the week saw a massive sell-off, highlighting strong bearish pressure.

Looking at on-chain data, this drop wasn’t just random. 

Instead, as AMBCrypto noted, there was a huge leverage sweep, with PIPPIN’s Open Interest (OI) spiking over 90%. With the price now back at $0.40, a return of bullish activity could set up a classic reset scenario. 

Otherwise, a deeper correction back to $0.35 cannot be ruled out.

XDC Network [XDC] — Blockchain’s bullish momentum faced scrutiny

XDC Network [XDC] ended up as one of the bigger weekly losers based on daily price action. While the broader weekly trend still looks bullish, the late-week push has clearly put that momentum to the test.

XDC popped about 12% early in the week, tagging the $0.05 level. It is a zone it’s failed to clear five times since November, making it a stubborn resistance.

The rejection didn’t take long. 

A 4% drop on the 27th of December after hitting that level brought sellers back in, and a small follow-up dip kept pressure on price. If this weakness carries over, XDC could stay on the defensive heading into next week.

MYX Finance [MYX] — DeFi platform tested crucial price zones

MYX Finance [MYX] landed third among the week’s biggest losers. With the way price has been moving, the similarities to XDC are pretty clear, putting MYX firmly on the watchlist.

MYX showed some early strength, pushing back toward $3.8, but the breakout never came. Instead, price faded back to $3.5, which looks a lot like the early-December move that eventually dragged MYX down to $2.90.

That $3.8 zone continues to be the level to beat. If price gets rejected there again, longs look high-risk, and the next few weeks will likely decide whether MYX stabilizes or rolls over further.

Other notable losers

In the broader market, downside volatility hit hard.

Legacy Token [LGCT] led the losers with a steep 72% drop, followed by Infrared Finance [IR] falling 55%, and FLOW [FLOW] slipping 32% as momentum sharply cooled.

Conclusion

This week was a rollercoaster. Big pumps, sharp dips, and nonstop action. As always, stay sharp, do your own research, and trade smart.

Final Thoughts

• Canton [CC], Zcash [ZEC], DASH [DASH] led the week in gains.
• Pippin [PIPPIN], XDC Network [XDC], MYX Finance [MYX] saw significant declines.