Last week, there was a decrease in investor confidence in the cryptocurrency market, leading to reduced trading activity across major digital assets and alternative coins. As a result, the total market capitalization of cryptocurrencies dropped by $106 billion during the week.

Despite this overall decline, some tokens experienced growth while others struggled to keep up. Here is an overview of the top performers and underperformers of the week.

Top Gainers in the Crypto Market

Onyxcoin (XCN) and Bitget Token (BGB) stood out as the leading gainers last week, defying the general market trends. Both tokens showed significant increases, driven by investor interest and positive technical patterns.

Onyxcoin (XCN)

XCN, ranked among the top 100 cryptocurrencies by market capitalization, recorded the highest gains in the past week. With a current trading price of $0.019, the token's value surged by nearly 10% over the previous seven days.

Technical analysis using the Moving Average Convergence Divergence (MACD) indicator suggests a potential for further short-term price rallies for XCN, indicated by the MACD line being above the signal line and zero lines.

If the upward trend continues, XCN's price may reach $0.023. However, profit-taking could lead to a drop in value to around $0.0174.

Bitget Token (BGB)

BGB emerged as the second top gainer in the crypto market last week, with a 3% price increase, currently trading at $5.17. The rising Chaikin Money Flow (CMF) for BGB reflects increased buying pressure, with the indicator at 0.23.

The positive CMF reading indicates that more capital is flowing into the token than leaving it, which could help BGB sustain its price rise and potentially break past the resistance at $5.31 to target $6.08. Conversely, selling pressure may push the price down to $4.80.

Top Losers in the Crypto Market

Bonk and TIA were the biggest losers in the cryptocurrency market last week, facing challenges in a predominantly sideways trading environment. Both tokens experienced heightened selling pressure and decreasing momentum.

Bonk (BONK)

BONK witnessed a significant 22% decline in price over the week, currently trading at $0.000019. Negative readings from the Balance of Power (BoP) indicator indicate weakening demand, with a downtrending momentum at -0.67.

Stronger selling pressure could further reduce BONK's price to $0.000016, while renewed demand might drive the price towards $0.000020.

Celestia (TIA)

TIA experienced a notable 23% decrease in its price over the past week, trading at $2.56, reflecting a 3% drop today in line with the overall market trend. The increased trading volume, up by nearly 80%, indicates a negative divergence pointing to potential further declines.

Continued selling pressure could push TIA's price down to $2.14, whereas a surge in demand may lift the price to $2.96.