The global crypto market saw a recovery last week, recording a 2.79% gain and closing with a market capitalization of $2.21 trillion.
This surge added $60 billion to the overall market valuation.
Although Bitcoin (BTC) spearheaded the rally, several altcoins also played a role in the market recovery. Here are some of the standout players from last week:
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SUI strengthens 28%
Sui (SUI) had a strong showing last week, surging 28% from $1.75 to close at $2.24. The most bullish moment occurred during the market recovery on October 11 and 12, when prices jumped 21%.
The Sui fell 5.60% on October 9 despite a bullish announcement involving USDC Circle. Currently trading at $2.2266, SUI is now above the upper boundary of the Keltner Channel at $2.2186, indicating potential overbought conditions.
This suggests that although momentum is strong, a period of consolidation or minor correction may occur this week unless strong buying pressure continues. Volume remains high, so buyers can take advantage.
Meanwhile, Aroon Up is 100%. On the contrary, Aroon Down at 28.57% shows a weak downtrend. However, if Aroon Down rises this week, this may indicate increasing bearish pressure. In this case, SUI may find support at $1.8286.
The Sui token was created by Mysten Labs, a blockchain infrastructure company founded by engineers who previously worked at Meta Platforms on the Diem (formerly Libra) project.
The company was co-founded by luminaries including Evan Cheng, Sam Blackshear, Avery Ching, and George Danezis, all of whom contributed to Meta’s blockchain and cryptocurrency efforts before moving on to build Sui.
CHZ retests 4-month high
Chiliz (CHZ), the cryptocurrency that powers the Chiliz blockchain, took advantage of last week’s broader market move to maintain its rounded base structure, as it maintained a trend of lower lows.
See below.
The altcoin closed the week with an 11.8% gain, but its most impressive performance came as a notable spike throughout the week. For example, on October 9, CHZ rallied to a 4-month peak of $0.0784 before encountering resistance.
Chiliz has now posted another 9% rally in the new week, pushing it above the upper Bollinger Band at $0.0752. A retest and bounce from this level would signal continued strength to maintain the current uptrend.
However, if the downside is able to trigger a fall below the upper Bollinger Band, investors should pay attention to the 20-day MA ($0.0663), which is currently acting as key support above the psychological $0.06 region.
Chiliz mainly focuses on the sports and entertainment industry. It was created by entrepreneur Alexandre Dreyfus in 2018, to transform fan engagement through blockchain technology.
COIN records six bullish days
Last week, 8-Bit Coin (COIN) secured six of seven bullish days. Like the rest of the market, COIN started the week strong, but maintained its uptrend from October 7 to 10 despite the broader market facing a correction.
The only bearish day on this asset occurred on October 9, when it fell 2.78%. Meanwhile, the price maintained the trend bottom that has been in place since October 4, and finally closed the week with an impressive gain of 22%.
8-Bit Coin’s most impressive feat is maintaining a neutral RSI of 56.49 despite a 22% rise last week. This shows that the price still has room for further upward momentum.
If buyers maintain their gains, the next resistance level will be at $0.0007335, after which it could battle $0.00008016 resistance. Amid the recent decline, COIN should confirm the important Pivot level of $0.0006232, as a drop below it could turn the momentum bearish.
8-Bit Coin is a cryptocurrency created as an homage to retro gaming systems, such as the Atari 7800. It operates on the Solana blockchain and is intended for use in gaming-related applications, allowing users to earn rewards and participate in a community focused on nostalgia and gaming culture