“The king of cryptocurrencies experienced significant volatility last week. Its price fell to around $60,000 before recovering to close near $70,000. Despite the recovery, BTC is now in negative territory for the third week in a row. Altcoins have been hit hard by the fall of the largest cryptocurrency by market cap, but can they turn things around this week? Let’s […]”, — write: businessua.com.ua
The king of cryptocurrencies experienced significant volatility last week. Its price fell to around $60,000 before recovering to close near $70,000. Despite the recovery, BTC is now in negative territory for the third week in a row. Altcoins have been hit hard by the fall of the largest cryptocurrency by market cap, but can they turn things around this week? Let’s take a look at the current state of altcoins and identify the strongest assets and sectors throughout this difficult period. Let’s start!
The altcoin market cap remains at the $980 billion support level. Last week the king of cryptocurrencies collapsed to $60,000 . At the same time, the market capitalization of altcoins fell sharply, but eventually managed to hold support level at $980 billion . Despite this positive development, the market capitalization of altcoins has downward trend since its peak in October .
Altcoin Market Cap Chart (1 Week) – Sign up for TradingView with our affiliate link.
The resilience shown by altcoins is a sign of opportunity restoration . If support level of 980 billion dollars will remain, the price may rise to resistance level of 1.2 trillion dollars . However, to hope for a new bullish phase for altcoins, they will need to break the level moving averages (9-day/18-day EMA) and get back the $1.2 trillion support zone . Conversely, if the price continues to fall, it may return to the level support of 810 billion dollars .
The RSI momentum indicator is falling since July and is currently below the trend line. Thus, the momentum favors the sellers .
No crypto sector escaped Bitcoin’s fall Given the sharp fall in bitcoin, it is logical to see all crypto sectors are in the red in the last seven days. No sector could withstand the fall of the cryptocurrency king. Seven crypto categories recorded declines of less than 10% while all others fell by more than 10% .
Weekly dynamics of crypto sectors. Source: The Block
During the previous week tokens related to Cosmos, showed the greatest results (-4.7%). DeFi and RWA (real world assets) also performed well, with reduction limited to 5% and 7% in accordance. In return tokens related to Solana, suffered especially badly, having suffered drop of more than 15% .
Most altcoins are currently in the red, but some assets managed to perform well. Sky (SKY) was the strongest altcoin last week, growing by 12.4% .
The best cryptocurrencies from the top 100 list for the last week. Source: CoinGecko
Three the best assets in the last seven days were closed MYX Finance (MYX) and MemeCore (M) . MYX rose by 12% and M – on 10% . Now let’s look at the technical aspect of SKY.
Sky (SKY) remains in a range against the dollar Last week SKY shares showed the highest results increasing by 12.4% . This is a significant recovery given the current situation, but it is unchanged from the last 3 days. SKY shares are trading in a range between with a support level of $0.044 and a resistance level of $0.095 .
SKY Price Against Dollar (3D) – Sign up for Trading View using our affiliate link.
If the price manages to hold higher ascending moving averages (9-day/18-day moving averages) it can rise to the upper limit of the range to $0.095 . However, if the price weakens and falls below the moving averages, it may find itself at the bottom of the range at $0.044 . As long as the price remains between these two levels, it will not show a clear trend . Meanwhile, the RSI is re-entering the bearish trend line. To install strong impulse a clear break above the trend line is necessary.
Key points to remember The Bitcoin crash has affected altcoins as all crypto sectors are in the red. Some assets managed to recover, such as SKY, MYX and M, but it is clear that the current climate is not favorable for high-risk assets. Moreover, despite SKY’s recovery, its price remains within a three-day range.
STEADY LADS $100,000 PORTFOLIO MONITORING Distribution as of 09.02.26:
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After significantly reducing her exposure and thus limiting the impact of the recent market downturn on the portfolio, Cara decided to reallocate capital to the market. The exposure was increased to 50%, while maintaining a cautious approach in a still uncertain environment.
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