The winning and losing picture in the crypto market last week: TAO, ENA, FET, and ZEC

Bitcoin (BTC) has fallen below the important mark of 110,000 USD, falling about 6% and hitting the lowest level in several months around 103,000 USD.

This adjustment quickly spread, dragging the entire cryptocurrency market down, as most altcoins returned to price levels previously recorded in early August.

However, unlike the previous collapse, the capital flow this time did not completely leave the market. Instead, investors are shifting towards tokens with high practical application — among which are prominent names leading the increase in the past week.

Weekly Winners

Bittensor (TAO) — A peer-to-peer network separated from the general market

Bittensor (TAO) became the focal point of the market this week as it led the surge with a jump of 30%, marking the highest peak in five months. However, according to Coin Photon, this token also could not escape the wave of widespread leveraged liquidation across the market.

The trading week kicked off with excitement as TAO surged by 17%, surpassing the 470 USD mark. However, just in the following two days, almost the entire increase was erased as investors collectively withdrew about 48 million USD from the derivatives market to reduce leverage.

This adjustment comes just as the RSI indicator hits its highest peak in five months — a typical signal of an “overbought” condition following a more than 21% increase from last week. As a result, TAO quickly lost nearly half of the profits gained.

Daily TAO/USDT Chart | Source: TradingViewNevertheless, the bulls did not let the situation get out of control. Spot investors quickly jumped in, pouring in about 14 million USD, providing significant support for the price and restoring confidence in the upward trend. From the mid-week low around 370 USD, TAO surged more than 10% in just one day.

With the current technical structure, TAO is having the opportunity to replicate a similar price increase, aiming towards the resistance zone of 480 USD. The heavy buying in the support zone indicates that the potential to break through this level is becoming increasingly solidified.

Ethena (ENA) returns to an uptrend

Ethena (ENA) recorded an impressive increase of 27% over the week, closely following the upward trend of TAO after a correction in the first half of the week. A strong “boost” in the middle of the week propelled ENA into the leading group in terms of performance.

This recovery is further reinforced as the founder of ENA quietly accumulates an additional 48 million tokens — equivalent to about 20 million USD — in just three days, coinciding with the price bouncing off the support level of 0.40 USD. The derivatives market also aligns with the optimistic signal, indicating a clear trend leaning towards the bulls.

In this context, investors are turning their attention to the possibility of ENA breaking through the 1 USD mark in the short term, after successfully surpassing the 0.50 USD threshold — a level not reached since Q3, now becoming an important springboard for the next upward momentum.

Morpho (MORPHO) — DeFi token showing a downward trend.

Morpho (MORPHO) stands in third place with a modest increase of 10%, reflecting significant volatility on the chain. At the beginning of the week, the price rose slightly by 0.8% and attempted to conquer the resistance level of 2 USD.

However, the rapid recovery has stalled. In the next three consecutive sessions, MORPHO recorded a series of red candles, plummeting nearly 10% to 1.60 USD, as news of a withdrawal of 500 million USD raised investor concerns.

Over the weekend, the market has become more stable. MORPHO is recovering, once again testing the 2 USD area and initially consolidating this support zone. However, without a clear breakout, the short-term trend of this token remains quite uncertain.

Other prominent altcoins

In addition to the major coins, a series of prominent altcoins have completely captured the market's attention over the past week.

Leading the way is BNB Attestation Service (BAS) with an impressive increase of 362%, followed by XPIN Network (XPIN) which surged 348%, while Bless (BLESS) also held its ground with a rise of 173%, completing the list of the strongest growth names of the week.

The loser of the week

Artificial Superintelligence Alliance (FET) — Blockchain AI falls to a many-year low

Artificial Superintelligence Alliance (FET) became the biggest “loser” of the week, losing up to 30% of its value compared to the opening level of 0.37 USD. The price chart shows a clear downward trend, with selling pressure increasingly dominating.

The red candle this week has extended the streak of four consecutive weeks of losses, raising significant questions about the recovery potential in October. FET has now formed two lower lows, with the latest low breaking through the critical support level of 0.50 USD.

Daily FET/USDT Chart | Source: TradingViewThe first fall occurred in mid-September, when the price dropped below 0.60 USD — marking the beginning of a bearish technical pattern. Currently, FET has almost no significant support level left, even though the RSI indicator has dropped deep into the oversold territory.

In this context, expecting a solid “floor” around 0.20 USD is still too early. The fate of FET now entirely depends on defending this threshold — while US-China trade tensions continue to keep risk-averse sentiment in the AI sector high, making the recovery prospects for FET even more fragile.

Zcash (ZEC) — Security token indicates a correction instead of a sell-off

Zcash (ZEC) is the second coin to fall sharply this week, losing up to 20% of its value. However, unlike some projects in the same group, this decline seems to be just a healthy correction rather than a wave of panic selling.

Previously, ZEC had experienced two weeks of explosive growth as strong capital inflows pushed the price to a four-year high of 300 USD — equivalent to an increase of over 210%. This indicates that the adjustment pressure primarily comes from the market, rather than from any negative internal factors.

Technically, the RSI indicator on the weekly frame shows that ZEC has fallen into the overbought zone. Nevertheless, this coin quickly recovered nearly 20% of what it had lost by the end of the week, strengthening the support area around 180 USD and indicating that this may just be a healthy correction phase before continuing the upward trend.

MemeCore (M) — Meme token has fallen back to the level of early September

MemeCore (M) ranks third in the group of significant fallers this week with a slight drop of 8%. Although the decline is modest, the technical signals still lean towards a negative trend, indicating the possibility of a deeper correction.

The trading week started quite positively with a slight increase of 0.69%, suggesting that buying pressure is still present around the support level of 2 USD. However, the four consecutive sessions of decline quickly erased this effort, pulling M back to the level of 1.95 USD – a price that had appeared earlier in early September.

Notably, this is the second time in March that it has breached the support level, indicating that the risk of further decline remains if it does not soon regain the 2 USD mark – an important support point to stabilize the short-term trend.

Other notable altcoin fall

In the broader market, the deep downward trend has left a clear mark.

DORA (DORA) leads the decline with a drop of up to 67%, followed by Paparazzi Token (PAPARAZZI) losing 47% and Portal to Bitcoin (PTB) sliding 43%, as the wave of selling gradually cools down.

Conclusion

This week has been a roller coaster. Many strong increases, deep falls, and the market is always active. As always, be cautious, research thoroughly, and trade smart.

SN_Nour