Global cryptocurrency market capitalization fell 7% last week, losing $160 billion to close at $2.15 trillion.
While Bitcoin (BTC) influenced the broader market, several altcoins went their own way and benefited from their own development within their ecosystem.
Following last week’s diverse price action, here are some of the cryptocurrencies to keep an eye on this week.
HMSTR 18% collapse
Hamster Combat (HMSTR) had a bearish week, dropping 18% to $0.004714. The worst day was October 1, when the stock fell 13.94% as the overall market declined due to geopolitical tensions.
HMSTR 4H Chart – October 6 |Source: crypto.news
Last week’s bear market built on the downtrend that HMSTR has been facing since the September 26th airdrop. However, the 4-hour chart shows signs of recovery, with the RSI currently sloping upward at 42.82.
For DMI, +DI is steady at 17.46, indicating slight buying momentum. However, the -DI is trending downward at 23.07, indicating weakening selling pressure. ADX is at 22.68 and is trending down as the current trend is losing momentum.
These numbers suggest a possible recovery if the buying momentum continues, with bulls likely targeting $0.0051. However, if buyers do not pick up the pace this week, the downtrend could continue.
SUI demonstrates resilience
Sui (SUI) showed resilience despite widespread market volatility, declining only 0.3%. On October 1st, amid market turmoil, SUI fell by just 0.97%.
However, on October 3, the stock fell by 10.38%, the first intraday drop in three months.
SUI 1D Chart – October 6 |Source: crypto.news
SUI seems to be forming a bullish pennant following the uptrend in September. Currently, the Bollinger Bands are showing an upper band at $1.97 acting as resistance, with the 20-day moving average at $1.62 providing immediate support.
With SUI trading below the upper band, the price is likely to stabilize above the $1.62 support.
Investors should watch for a rebound between $1.62 and $1.97, as a break above resistance will likely signal bullish momentum this week.
FTT bucks the trend
The FTX token (FTT) bucked the market trend and rose 22% last week while most assets declined.
On October 1st, FTT rose 13.89%, followed by 21.53% on October 4th, and another 9.86% the next day.
FTT 1D Chart – October 6 |Source: crypto.news
Within this uptrend, Williams’ percent range is -32.59, indicating that FTT is close to overbought territory but still has room for further upside.
With a 9% retracement seen this week, bulls need to defend the $2.01 pivot support to prevent a slide into bearish territory. The next support below is at $1.33, marking a two-week low.
If FTT recovers from the latest correction, market participants should watch for a breakout of the $2.68 resistance level, which will continue the bullish momentum.
