Key Takeaways
OKB [OKB], Morpho [MORPHO], and Arbitrum [ARB] led the week with sharp price surges. In contrast, Pump [PUMP], Sky [SKY], and SPX6900 [SPX] saw significant declines.
This week in crypto was a mix of volatility and optimism.
Bitcoin [BTC] pulled back about 3% from its highs, while Ethereum [ETH] stole the spotlight with fresh strength. Meanwhile, Fed Chair Jerome Powell’s dovish comments shifted sentiment from fear to greed.
All in all, Bitcoin slowed, Ethereum surged, and the market leaned more bullish as capital rotated into mid-caps.
Weekly winners
OKB [OKB] — Exchange token showed bullish continuation
OKB [OKB] stole the show this week with a 66% run off its $117 open. Now, it is pressing up against a key resistance zone that could make next week choppy. However, it still feels too early to call for a bearish flip.
Momentum has been heavy on the bid side. The week kicked off with OKB hovering around $120 resistance after a massive 151% prior run that overheated RSI, yet buyers kept stepping in.
What’s more, on the 20th and 21st of August, two back-to-back 40%+ green candles sent the token ripping to a $258 peak. That move showed conviction clearly outweighed capitulation.
Source: TradingView (OKB/USDT)
However, the real test now is whether bulls can hold these levels or give way to profit-taking. OKB is already retracing about 24% off its recent peak, showing some short-term profit-taking.
And yet, the MACD is still flashing a bullish crossover.
According to AMBCrypto, that means momentum’s still on the buy side, and if $190-$200 holds as support, OKB could ride another leg up, with a potential parabolic run eyeing $300.
Morpho [MORPHO] — Yield-focused platform broke through a key resistance
Morpho [MORPHO] landed second among the weekly winners with a 26% pop from its $2 base. It clearly marked a bullish week as buyers defended the ceiling.
The week started shaky with a 3.9% dip, hinting that bears were eyeing a pullback. But four straight days of inflows trapped the shorts, pushing MORPHO back to Q1 levels.
That said, two consecutive red candles shaved about 5%, bringing it to the $2.60 zone, still above Q1 resistance. A clean breakout here could target late Q4 and early Q1 levels.
However, the volume has cooled off, down 66%. So, if bulls don’t step in, a deeper retrace could take it closer to $2.30 in the coming week.
Arbitrum [ARB] — Layer-2 scaling solution maintained a bullish bias
Arbitrum [ARB] finished third among the weekly winners with a modest 6% gain. However, the price action suggests bulls are strategically positioning into ARB.
The weekly chart looks solid. ARB is the most bullish of the top three, closing three consecutive weeks in green, without overheating the technicals, and keeping the trend healthy.
On the daily, the week started testing the $0.50 supply wall, then slipped nearly 11% over two straight red days. A sharp mid-week reversal pushed it to a $0.60 top, signaling buying conviction.
With a recent 7% intraday dip to $0.56, ARB looks poised for another rebound, potentially eyeing a weekly run back toward Q1 levels.
Other notable winners
Outside the majors, altcoin rockets stole the spotlight this week.
Alturu [ALU] led the charge with a staggering 222% surge, followed by Huobi [HT], which climbed 141%, and Wayfinder [PROMPT], rallying 137% to round out the leaderboard.
Weekly losers
Pump.fun [PUMP] — Community-driven token hit a local top
Pump.fun [PUMP] topped the losers this week, dropping nearly 20% from its $0.036 open. In fact, this marked PUMP’s first red weekly in a month.
What’s more, price action shows a clear bearish bias. The $0.04 mid-August high hasn’t flipped into support. The week started at $0.035, but a 14% dip on the 18th of August confirmed weak bids.
The result? PUMP has slipped below $0.03, with a 7% intraday drop, showing that bulls still aren’t stepping in. If buyers fail to defend this zone, a deeper retrace looks likely.
Source: TradingView (PUMP/USDT)
If buyers fail to defend this zone, a deeper retrace could target early August levels around $0.024. That makes it key for PUMP to stabilize near the $0.03 area, holding here could rebuild confidence.
Otherwise, continued weakness might trigger further capitulation, making this consolidation zone a critical line in the sand for traders watching short-term momentum.
SKY [SKY] — Utility token pushed deeper into its recent lows
SKY [SKY] emerged as the second-biggest weekly loser, dropping 14% from its $0.07 open. The MACD hasn’t flipped bullish, reinforcing a bearish market bias.
The week kicked off testing the $0.075 supply wall after a modest 2.57% surge the previous day, suggesting bulls were attempting a rebound. However, momentum didn’t follow through.
Instead, SKY slipped 6.58% the next day, losing the $0.07 support and dipping to $0.06, marking its second lower low of the week.
A surprise rally could push it back to retest $0.07, but the broader bearish structure keeps the odds tilted to the downside, making a deeper retrace likely in the coming week.
SPX6900 [SPX] — Index token struggled to hold key support levels
SPX6900 [SPX] emerged as the third weekly loser, down 13% from its $1.52 open, as bulls failed to flip resistance into support, pushing the memecoin to a near two-month low.
This week marked a decisive move. After topping at $2.30 in late July, SPX had been holding above $1.50, but the break below $1.30 marked the first breakdown this month.
In fact, the breakdown represents the third lower low this month, showing bulls aren’t defending key support. In turn, confirming a bearish bias, with technicals signaling fading momentum.
If buyers fail to hold $1.30, a deeper retrace looks likely, and a fourth lower low could push SPX toward the $1 mark sooner rather than later.
Other notable losers
In the broader market, downside volatility hit hard.
Codatta [XNY] led the losers with a 71% drop, followed by Ket [KET], down 54%, and MYX Finance [MYX], which slipped 44% as momentum sharply cooled.
Conclusion
This week was a rollercoaster. Big pumps, sharp dips, and nonstop action. As always, stay sharp, do your own research, and trade smart.
