Pump.fun [PUMP] saw a brief uptick this week following the launch of the network’s new creator callout feature, which allows creators to share trending coins with their followers.
The token gained about 17% this week, but that was after it failed to hold more gains.
At the time of writing, RSI was moderately bullish with minimal overheating. MACD was marginally positive, though momentum was slowing.
While the update boosted short-term engagement and trading activity, it seems traders still aren’t sure about chasing follow-through beyond the initial announcement-driven move.
Other notable winners
Beyond the top movers, several altcoins posted gains this week. Monero [XMR] surged by roughly 16%, riding the privacy and censorship-resistance demand wave.
Internet Computer [ICP] followed with a strong 25% jump. Chiliz [CHZ] also stood out, climbing about 24% as activity around fan tokens and sports-related crypto picked up.
Weekly losers
Polygon [POL] — Profit taking begins after last week’s rally
Polygon [POL] slipped into the losers column this week after a big change from last week’s sprint. The token fell by nearly 14% over the week, retreating to trade around $0.142 at press time.
Source: TradingView
The decline comes just a week after POL surged close to 50%, making this fall notable. Selling pressure seems to have picked up steadily, with the RSI showing fading bullishness.
The MACD also flattened and went lower. POL’s move seems caused by profit-taking after an aggressive rally, with traders locking in gains.
Memecore [M] falls with lesser meme hype
Memecore slipped further, posting a near 11% weekly decline with weakening bullish momentum. At press time, the token was trading around $1.55 after failing to reclaim the $1.60-$1.62 zone, where multiple MAs converged.
Price remained below key short-term EMAs, so there’s greater selling pressure. The RSI showed a loss of upside strength.
With buyers struggling to defend higher levels, Memecore’s fall shows decreasing speculative interest. Traders are perhaps becoming picky with where their money goes.
Midnight [NIGHT]’s support breaks as sellers take the reins
Midnight [NIGHT] slid roughly 12% this week, an extension of the short-term downtrend.
The token dropped from the $0.070-$0.072 range to around $0.0617 at press time, a clear breakdown below prior consolidation support. Consecutive red candles mean selling pressure, with no meaningful bounce attempts.
The RSI proved weak pace, while leaving room for further downside. Meanwhile, CMF went deep into negative territory, with persistent capital outflows.
Unless NIGHT can reclaim the $0.065-$0.067 zone, bearish control is likely to remain intact.
Other notable losers
There were more losses than gains this week. Bitcoin Cash [BCH] slipped nearly 8%, while XDC Network [XDC] fell around 9%.
Virtuals Protocol [VIRTUAL] saw the biggest drop among this group, down roughly 11%. The risk-off behavior is very selective.
All in all…
… It was one of those weeks, with big pumps, pullbacks, and charts that probably ruined someone’s sleep schedule.
While the popular kids stayed steady, the rest of the market reminded us why this is not for the faint-hearted. As always, things change quickly, and last week’s winner can easily become next week’s cautionary tale.
DYOR, manage your risk, and we’ll see you next week!
Final Thoughts
- Altcoins stole the spotlight this week, with Dash’s 115% taking the lead.
- Profit-taking is back in play, as several recent high-flyers corrected greatly.
Source: https://ambcrypto.com/crypto-market-weekly-review-18-january/