Cryptocurrency Market Sees Mixed Price Action This Week

The cryptocurrency market has been characterized by volatility in recent times. This week was no exception, with some tokens experiencing significant gains while others suffered losses.

Terra Classic [LUNC] led the weekly gains with a 35%+ rally, pushing its price above the $0.00008 level that had acted as a strong resistance zone in Q4 last year. The token's RSI sat near 80 as of writing, indicating overbought conditions and suggesting that the market could cool off if profit-taking picks up and supply increases.

However, this week stands out more than previous ones, with Terra Classic [LUNC] breaking above a key resistance level and setting it up for potential further gains. The token's bulls have shown strength by absorbing supply pressure twice this week, supporting continued upside and keeping a potential move toward $0.0001 in play.

Other notable winners include Humanity Protocol [H], which came in as the second biggest weekly winner with a 25%+ rally, and Bittensor [TAO], which took the third spot among weekly winners with a 13.5% rally.

However, unlike Terra Classic [LUNC] and Humanity Protocol [H], Bittensor's [TAO] chances of extending its move in the near term look less certain. The token's price may need to build strength around current levels first before attempting a breakout above $300.

In contrast, MemeCore [M] led this week's losers with a 31% drop, but this move looks more like a normal cooldown after a strong run rather than a full capitulation. The token's pullback wiped out last week's 25% gains and brought the price back toward mid-April levels.

Other notable losers include World Liberty Financial [WLFI], which came in second among weekly losers with a 25% correction, and DeXe [DEXE], which took the third spot among weekly losers with a 23.5% correction.