This week, the crypto market recorded many significant milestones. The U.S. passed the GENIUS Act. Bitcoin reached a new all-time high (ATH) of over $123,000, while Ethereum (ETH) also broke above $3,700.
Notably, financial institutions also contributed to the momentum as Standard Chartered launched BTC/ETH trading and Peter Thiel's investment fund invested in BitMine.
However, some altcoins still recorded more impressive gains, thanks to the growing interest in the sectors they represent.
Top coins with significant gains this week
Tezos (XTZ) – Layer-1 blockchain surges to multi-month highs
Tezos (XTZ) leads the altcoin group this week with an increase of over 80% from the bottom of $0.64. After several months of sideways movement, this altcoin has finally regained the important psychological threshold of $1 that was lost since Q1.
At the beginning of the week, XTZ continued to retest the strong resistance area at $0.64. But unlike the three previous failures, this time the price maintained continuous upward momentum for three sessions, indicating that momentum is accumulating.
The real turning point occurred on July 19, when XTZ surged 48.48% in just one day – marking the strongest bullish candle since last November.
Notably, this breakout accounted for more than half of XTZ's total weekly gain and pushed the RSI index into the overbought zone.
If the bulls continue to increase demand and maintain the upward momentum, XTZ could head towards the resistance area of $1.2 next week.
However, if the market becomes too hot, leading to sell-offs or profit-taking, a reversal below the $1 mark could very well occur.
Curve DAO Token (CRV) – DeFi protocol faces resistance at a large supply wall
Curve DAO Token (CRV) is the second strongest gainer this week, with an increase of 61% from the opening level of $0.61.
Interestingly, the price action of CRV is quite similar to XTZ. CRV has surpassed the strong supply area of $0.75 – $0.85 and reached the $1 mark.
However, unlike XTZ, the bulls could not maintain the price above the resistance level, resulting in a slight correction of 2.17% for the day.
Nonetheless, this drop did not stem from any negative news and seems merely to be a temporary pause in the upward trend that had started the previous week.
Shortly after, CRV rebounded strongly with a bounce of 3.78% back above the $1 mark, indicating that the upward trend is still being maintained. However, at the time of writing, the price once again slipped below this level and is currently trading at $0.96. If buying pressure continues, the price could regain momentum, and the next target could be the $1.1 range.
Ethena (ENA) – The banking protocol rebounds strongly from the bottom
Ethena (ENA) ranks third in this week's chart with an impressive increase of 56% from the bottom of $0.32. This week marks a distinct turning point on the price chart.
The price opened the week by gradually approaching the important resistance area – where ENA has failed to surpass four times since May, creating a significant psychological barrier.
However, after four consecutive days of stable buying pressure, the accumulated upward momentum and the FOMO (fear of missing out) sentiment exploded on July 19 with an 11.2% bounce in one day, pushing ENA straight to the supply area around $0.4.
The bulls remain undeterred. ENA surged strongly with an increase of 15.11%, pushing the price above $0.5 for the first time since the peak of the January-February cycle.
With the upward momentum still hot and a stable price structure, ENA may have room to continue breaking out. If the bulls can maintain the current price range, the next target could be $0.65 next week.
Other notable altcoins
Besides the major coins, other 'altcoin rockets' have taken center stage in the market this week.
DOWGE (DJI6930) leads the race with an overwhelming increase of 240%, followed by Cross (CROSS) with a leap of 145% and Elixir (ELX) also rising strongly by 144%, completing the rankings of the strongest growing altcoins of the week.
Top coins with significant losses this week
Pump.fun (PUMP) – Utility-focused memecoin experiences a strong adjustment mid-week
Pump.fun (PUMP) ended the week at the 'bottom,' losing nearly 40% of its value and closing around $0.004.
The sell-off occurred quickly and late in the week – a classic sign of the 'hype then deflate' cycle.
Immediately after its launch, PUMP heated up with a series of consecutive green candles, surging over 26% to reach $0.006.
However, as the cash flow dried up, the market quickly 'slid down,' with profit-taking increasing and the trend reversing to bearish just before the weekend.
Nonetheless, the daily recovery increased by 8.86% from the bottom back to the $0.004 mark, indicating that the classic 'buy the dip' behavior is still present.
If the bulls continue to maintain pressure and the overall market sentiment remains risk-averse, PUMP could very well turn the tide and return to the growth coin group.
However, this needs to be validated. Let's observe whether the price can form a solid base — meaning one to two sideways sessions to create a stable foundation. Without this consolidation phase, the recent bounce may very well be just a 'dead cat bounce' in a gradually fading hype cycle.
Hyperliquid (HYPE) – Layer-1 blockchain adjusts after hitting a key resistance
Hyperliquid (HYPE) ended the week with a 6.5% decrease from the opening level of $48, becoming the second highest declining coin in the rankings.
However, this correction occurred quite typically.
After establishing a new historical peak at $49.42 on July 13, HYPE followed the familiar pattern – cooling off for several sessions before seeking a higher low.
This time is no different. After four consecutive red candles, HYPE found support around the $45 area and surged nearly 3% in the next two days.
If this support area continues to hold and the bulls actively defend it, HYPE may be preparing for a new breakout, with a potential to exceed $50 next week.
Pi (PI) – Community-oriented digital asset continues to set new lower lows
Pi Network (PI) ended the week with a 4.2% decrease from the opening level of $0.46, becoming the third highest declining coin.
However, if viewed on a weekly timeframe, the trend is even more negative. PI has created lower lows for five consecutive weeks, with the latest candle closing at $0.44.
Although the RSI index has fallen deep into the oversold zone, the market shows almost no signs of buying, indicating that investors are standing by observing or waiting for clearer signals.
The price structure still strongly leans toward a bearish trend, and if the bulls do not intervene soon to reverse, PI is likely to return to the $0.4 area next week.
If that happens, this will be the sixth consecutive week establishing lower lows since June – a clear sign that the bearish trend is still controlling the market.
Other significant declining coins
In the broader market context, the downward volatility has been quite intense.
Launch Coin on Believe (LAUNCHCOIN) leads the group of significant declines with a drop of 47%, followed by FiMarkCoin (FMC) down 41% and MemeCore (M) down 36% as the upward momentum weakens rapidly.
Conclusion
This week was truly a rollercoaster: big pumps, strong corrections, and relentless volatility.
As always, stay vigilant, do thorough research, and trade smartly.
