Major cryptocurrencies had a rough week, with Bitcoin and Ethereum posting double-digit losses. However, market performance was highly selective. While assets like Binance Coin and Monero faced significant declines, others including Memecore and MYX Finance posted recoveries. Analysts noted that confidence appears to be a primary driver in the current, moody market.
A challenging week saw market leaders Bitcoin [BTC] and Ethereum [ETH] decline by approximately 10% and 13%, respectively. Not all assets moved in sync, pointing to a fragmented market environment characterized by selective buying.
The token Memecore [M] experienced a volatile week with significant price swings. It recovered about 23% from a low near $1.28 to trade around $1.58, but later gave up some gains closing its latest session down roughly 15% daily.
MYX Finance [MYX] held steadier, climbing around 18% from local lows near $5.40 to press time levels around $6.44. The token managed to hold above the $6.50 area for most of the week, with its latest session closing up about 1.4%.
Midnight [NIGHT] saw a mixed week, rebounding roughly 17% from a low near $0.046 to around $0.055. At press time, it was trading near $0.0537, closing its latest session down about 2.2% on the day with its Relative Strength Index sitting near 47.
In the loser’s column, Binance [BNB] dropped from the $760-$770 region to a weekly low near $600, a decline of approximately 15%. It was trading around $643 at press time with continued sell pressure as indicated by a Relative Strength Index near 26.
Monero [XMR] slid 20% from the $400 region to a weekly low near $290, trading around $325.7 at press time. Similarly, ZCash [ZEC] fell just over 30% from the $290-$300 range to lows near $200, later trading around $234.
The market is still moody, selective, and absolutely not taking instructions from anyone, the report summarized. It cautioned that one positive price movement should not be taken as a reliable signal for future performance.
