Key Points

Which cryptocurrency tokens saw the largest gains this week?

Zero Coin [#ZEC ], SPX6900 [#SPX ], DeXE [#DEXE ] lead the gains this week.

Which cryptocurrency tokens saw the largest losses this week?

#MYX Finance [MYX], Double Zero [2Z], MemeCore [#M ] all saw significant declines.

This week, the cryptocurrency market kicked off with the classic "Uptober" vigor.

Bitcoin dominance [BTC.D] has broken a six-week high, confirming that this rebound is led by Bitcoin [BTC].

As a result, BTC has hit an all-time high, while altcoins still lag below key resistance levels.

Essentially, the market has fully entered a risk state, with record ETF inflows. Nevertheless, a few mid-cap stocks have still captured attention with excess returns.

Weekly winners

Zcash [ZEC] — The privacy token has achieved triple-digit growth.

Zcash [ZEC] gained over 140% this week, topping the gainers list, partly due to external recognition that has made ZEC a focus again after it consolidated since peaking at $60 in December.

At the beginning of the fourth quarter, Bitcoin's price rose 17%, breaking through the $60 mark, and then skyrocketed 98% later in the week. Notably, 62% of the weekly gains occurred on October 1, just after the speculation frenzy erupted.

Structurally, the market pattern is mixed. Early breakthroughs were clear and momentum strong, but the significant surge mid-week indicates market over-expansion. Thus, the resilience of bulls will be tested next week.

From a technical perspective, the RSI indicator has peaked, highlighting strong buying driven by FOMO. However, it now appears that this confidence is waning. It dropped 5.96% to $147 intraday, indicating weak investors are being eliminated.

If bulls do not add positions, ZEC could retreat to the $120-130 range, which was touched mid-week. However, once it breaks through $180, we return to the FOMO zone of 2021-22, making this week crucial for directional movement.

SPX6900 [SPX] — Memecoin breaks support.

SPX6900 [SPX] this week, the S&P 500 index had the second-highest gain, rising 57% to $1.50. This surge pushed the S&P 500 index back to levels seen in early August, effectively recovering all losses from September.

This move provides new momentum for SPX entering the fourth quarter.

On the weekly chart, the RSI remains well below the previous market peak of over 70, indicating there is still room for upward movement. However, on the daily chart, the RSI may have peaked — it has broken through 60, but the MACD remains bullish.

As the market enters a risk appetite mode, the memecoin sector has returned to an upward channel. SPX broke through the $1 support level, laying a solid foundation for another test of $2, which is an attractive entry point for traders.

DeXE [DEXE] — DeFi token regains control in the bull market.

DeXE [DEXE] ranks third on the weekly gainers list with a 28% increase. Before the rally began, the stock experienced two days of consolidation, slightly rising by 1%, but opened the fourth quarter with an 18.45% increase to $11.30.

The next day, DEXE rose again by 18.45%, reaching $13, marking the highest level since June, effectively recovering losses from the second and third quarters.

Notably, about half of the weekly gains occurred mid-week, suggesting a potential surge driven by speculation.

Structurally, bulls are showing strength. A bottom formed at $9 last week, followed by a potential higher low at $10. This formation suggests a high likelihood of breaking through $15 if momentum continues.

Other notable winners

Aside from major tournaments, altcoin rockets became the focus this week.

GeorgePlaysClashRoyale (CLASH) led with a 752% increase, followed by DeAgentAI (AIA) with a 733% rise, and MetaDAO (META) up 338%, ranking third.

Weekly losses

MYX Finance [MYX] — DeFi platform saw a 90% reduction in gains for September.

MYX Finance [MYX] topped the weekly decline list, plummeting 67% from an opening price of $16.

The decline triggered a significant drop in financing rates to -0.0033%, indicating that short positions have dominated the market.

From a technical perspective, a negative FR indicates that the long leverage is too high, leading to forced liquidations and a series of weak sell-offs. What happened? MYX fell below the support level of $8.

Thus, MYX has effectively wiped out all gains from September, which had driven the stock to rise three times in a row but failed to break through the $20 resistance level each time. In this scenario, a 60% retracement might be seen as a 'healthy' pullback.

From a technical standpoint, the recent price movement effectively cleared out weak investors, triggering a typical deleveraging event. Forced liquidations and sell-offs normalized funding rates, ultimately leading to a typical spike in leverage.

If buying pressure from buyers persists, this pattern could present solid 'buy on dips' opportunities. Even so, monitoring MYX's derivatives activity will be a key indicator for identifying potential bullish rebound signs.

DoubleZero [2Z] — Decentralized project experienced a rollercoaster week.

DoubleZero [2Z] ranked second among the cryptocurrencies with the largest decline this week, with Bitcoin (BTC) down 27% from an opening price of $0.67. Driven by rising social media attention and active speculative trading, this altcoin experienced extreme volatility this week.

This sell-off was primarily triggered by allegations of insider trading spreading rapidly across platforms, especially X (formerly Twitter), leading to a 13% drop intraday on October 2.

Despite the project's founder publicly clarifying, traders still held short positions, amplifying downward pressure, indicating that 2Z faces significant downside risk before social sentiment stabilizes.

MemeCore [M] — Meme-themed crypto testing key support.

MemeCore [M] ranked third among the stocks that declined this week, dropping 17% from an opening price of $2.50. This weekly bearish candlestick is the first in M's four-month bull market, indicating that holders may be taking profits.

At the opening this week, M's stock price plummeted 27% intraday, first falling below the $2.30 support level, marking the largest single-day drop in M's trading history. This pullback pushed M's stock price back to levels seen at the end of August.

In other words, M wiped out the gains from September after testing the historical high of $3.

On the bullish side, prior buying pressure initiated a 43% surge on September 30. Although most of the gains have been retraced, M coin still hovers near the $2 support level, making it a key level to watch closely.

Other notable losers

In the broader market, downward volatility is severe.

Mira (MIRA) led the decline, down 58%, followed by MonBase Coin (MBC), down 56%, and Plasma (XPL), down 45%, with momentum sharply weakening.

Conclusion

This week was like a rollercoaster. Booms, busts, and continuous volatility. As always, stay sharp, do your research, and trade wisely.