The cryptocurrency market experienced a mixed week, marked by a broad downturn in investor sentiment and a $106 billion drop in total market capitalization. Despite this overall bearish trend, select altcoins defied the odds and posted notable gains. On the flip side, others struggled under mounting selling pressure. In this analysis, we’ll explore the top performers and laggards of the week—Onyxcoin (XCN), Bitget Token (BGB), Bonk (BONK), and Celestia (TIA)—while unpacking the technical signals driving their movements.
Top Gainers: XCN and BGB Defy Market Downturn
While most digital assets faced headwinds, Onyxcoin (XCN) and Bitget Token (BGB) stood out as strong performers. Their upward momentum reflects growing investor interest and favorable technical setups, even amid broader market uncertainty.
Onyxcoin (XCN) Leads the Pack
Among the top 100 cryptocurrencies by market cap, XCN emerged as the biggest gainer of the week. Trading at $0.019, the token surged nearly 10% over the past seven days, capturing attention from traders seeking alpha in volatile conditions.
A key indicator behind this rally is the Moving Average Convergence Divergence (MACD) on the daily chart. At the time of writing, XCN’s MACD line (green) is positioned above both the signal line (yellow) and the zero threshold. This configuration typically signals bullish momentum and suggests that buying pressure remains dominant.
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The MACD is a powerful tool for identifying trend direction and momentum. When the MACD line crosses above the signal line, it often generates a buy signal—exactly the kind of setup currently visible with XCN. If this bullish trend holds, the next resistance level to watch is $0.023.
However, caution is warranted. A wave of profit-taking could trigger a pullback toward $0.0174, especially if broader market sentiment continues to weaken.
Bitget Token (BGB) Shows Strong Buying Pressure
BGB, the native token of a leading crypto exchange ecosystem, ranked as the second-largest gainer, climbing 3% to trade at $5.17. Its rise is supported by improving on-chain fundamentals and increasing market participation.
One critical metric highlighting BGB’s strength is the Chaikin Money Flow (CMF), which currently stands at +0.23. A positive CMF indicates that buying volume is outpacing selling volume over the observed period—suggesting sustained capital inflow into the asset.
CMF measures the flow of money into or out of a cryptocurrency by combining price and volume data. A reading above zero generally reflects accumulation, while values below zero point to distribution. With CMF in positive territory, BGB appears to be in an accumulation phase.
If this trend continues, BGB could challenge its next resistance level at $5.31**. A breakout beyond that may open the door to a more significant move toward **$6.08.
On the downside, renewed selling pressure could push prices down to $4.80, particularly if macroeconomic factors or exchange-specific news dampen sentiment.
Biggest Losers: BONK and TIA Face Selling Pressure
While some tokens thrived, others faltered under growing bearish momentum. Bonk (BONK) and Celestia (TIA) were among the week’s worst performers, weighed down by weak demand and rising outflows.
Bonk (BONK) Struggles on Solana
The Solana-based meme coin BONK dropped 22%, now trading at $0.000019. Once a favorite among retail investors chasing high-risk, high-reward plays, BONK is now showing signs of exhaustion.
A key red flag comes from the Balance of Power (BoP) indicator, which sits at -0.67—a clear sign of seller dominance. BoP evaluates market strength by comparing closing prices to trading ranges over time. Negative values indicate that sellers are in control, and demand is waning.
This shift suggests that speculative interest in BONK may be cooling. If selling pressure intensifies, the token could fall further to $0.000016.
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That said, meme coins are notoriously volatile. A sudden resurgence in community-driven buying—perhaps fueled by social media hype or platform integrations—could reverse the trend. In such a scenario, BONK might reclaim $0.000020 and attempt a breakout.
Celestia (TIA) Faces Volume-Driven Decline
Celestia (TIA), a modular blockchain infrastructure project, saw its price drop 23% to $2.56, with an additional 3% decline today aligning with broader market losses.
What makes TIA’s fall particularly concerning is the surge in trading volume—up nearly 80% to $128 million during the week. This spike in volume during a downtrend points to strong distribution activity, where holders are actively exiting positions.
High volume during price declines often signals capitulation or panic selling. It reflects weakening confidence and increasing bearish momentum. This negative divergence between price and volume increases the likelihood of further downside.
If bearish sentiment persists, TIA could test support near $2.14.
Conversely, a strong rebound in demand—possibly driven by protocol upgrades or ecosystem developments—could propel prices back toward $2.96.
Frequently Asked Questions (FAQ)
Q: Why did XCN outperform despite market-wide losses?
A: XCN’s rally was driven by positive technical indicators like MACD and growing trader interest. Its strong chart pattern attracted momentum traders even in a risk-off environment.
Q: Is BGB’s price increase linked to exchange activity?
A: While BGB is tied to an exchange ecosystem, its recent gain is supported by Chaikin Money Flow data showing real buying pressure—not just internal transfers or incentives.
Q: What causes a meme coin like BONK to drop sharply?
A: Meme coins rely heavily on sentiment and speculation. Loss of social momentum, profit-taking after rallies, or negative news can trigger rapid sell-offs.
Q: How reliable is volume as a predictor for TIA’s future movement?
A: Volume is a strong confirmation tool. Rising volume during a drop often indicates genuine selling interest, making further declines more likely unless reversed by strong buying.
Q: Can technical indicators predict reversals accurately?
A: No indicator is foolproof, but tools like MACD, CMF, and BoP help assess momentum and sentiment. Used together, they improve decision-making but should be combined with risk management.
Final Thoughts
This week underscored a key truth in crypto markets: even during downturns, opportunities exist for those who know where to look. While XCN and BGB demonstrated resilience through strong technicals and inflows, BONK and TIA highlighted the risks of holding assets facing structural selling pressure.
For investors, understanding these dynamics—using tools like MACD, CMF, and BoP—is essential for navigating volatility. Whether you're tracking meme coins or infrastructure projects, staying informed and data-driven can make all the difference.
Core Keywords: Onyxcoin XCN, Bitget Token BGB, Bonk BONK, Celestia TIA, crypto price analysis, MACD indicator, Chaikin Money Flow, Balance of Power indicator