Last week witnessed a downturn in investor sentiment within the cryptocurrency market, accompanied by a significant reduction in trading activities across major digital assets and alternative coins. This market shift caused the overall crypto market capitalization to decrease by $106 billion over the course of the week.

Despite the general decline, certain tokens managed to achieve gains, while others struggled to maintain their previous levels. The following provides an overview of the top-performing and losing cryptocurrencies of the week.

Onyxcoin (XCN) and Bitget Token (BGB) stood out as the leading gainers in the crypto market last week, defying the broader market trends. Both tokens recorded substantial increases in value, primarily due to heightened investor interest and favorable technical indicators.

In the top 100 cryptocurrencies ranked by market capitalization, XCN is the altcoin with the highest gains over the past week. At present, the token is trading at $0.019, marking an increase of nearly 10% in the last seven days. On the daily chart, the Moving Average Convergence Divergence (MACD) suggests a potential for continued upward movement in the short term. At the time of reporting, the MACD line (blue) is positioned above both the signal line (yellow) and the zero line.

The MACD indicator serves to identify trends and momentum in price movements, assisting traders in recognizing possible buy or sell signals through crossovers between the MACD and signal lines. When configured in this manner, buying activity takes precedence in the market, which supports further price increases.

Should this trend persist, XCN's price might reach $0.023. However, if profit-taking occurs, XCN could experience a partial reversal of its recent gains and potentially drop to $0.0174.

Bitget Token (BGB) ranks as the second-highest gainer in the crypto market last week, experiencing a 3% price increase, with the current trading price at $5.17. The rising Chaikin Money Flow (CMF) indicates growing buying pressure among market participants. As of this writing, the indicator stands at 0.23.

The CMF assesses the flow of funds into and out of an asset. A positive CMF reading, such as the current one, signifies that buying pressure surpasses selling pressure, implying steady capital inflows into the asset.

If this trend continues, BGB may sustain its price increase and surpass the resistance level at $5.31. Success in breaking through this barrier could lead to additional gains, potentially reaching $6.08. Conversely, if selling pressure intensifies, BGB might fall to $4.80.

Bonk and TIA were the primary losers in the crypto market last week, underperforming amidst a predominantly sideways trading phase. Both tokens encountered increased selling pressures and diminishing momentum.

Solana-based meme coin BONK was one of the largest decliners last week, with its price plummeting by 22% during that timeframe, now trading at $0.000019. The negative readings from the meme coin's Balance of Power (BoP) highlight the waning demand among market participants. The momentum indicator is trending downward at -0.67 at the time of writing.

The BoP indicator evaluates the relative strength of buyers versus sellers by comparing the closing price to the trading range for a specified period. A negative value indicates that sellers dominate, and downward pressure outweighs buying interest.

Further selling could drive BONK's price down to $0.000016. Conversely, a revival in new demand for the meme coin would invalidate this bearish outlook, potentially prompting a rally toward $0.000020 and an attempt to breach this level.

TIA experienced a 23% plunge over the past week, emerging as one of the market's sharpest decliners. The altcoin is currently trading at $2.56, down another 3% today as it aligns with the broader market's downward trajectory.

During this period, the token's trading volume surged nearly 80% to reach $128 million, creating a negative divergence that foreshadows further declines. An asset's price decline alongside rising trading volume signals robust selling pressure, indicating that bearish momentum is intensifying among TIA holders as traders exit their positions.

Should this pattern continue, TIA might extend its decline to $2.14. Alternatively, if demand surges, the token's price could ascend to $2.96.

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