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Bitcoin traded relatively flat this week, but several AI and DeFi-focused altcoins saw sharp moves.
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Bittensor, IO.NET and Celestia showed technical weakness as analysts highlighted downtrends.
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The market is consolidating, but analysts still see selective opportunities in altcoins, and tokens like ONDO and Solana are attracting bullish attention.
Bitcoin (BTC) traded roughly flat over the past week, but a handful of AI infrastructure and decentralized finance (DeFi) tokens, including Bittensor (TAO), Celestia (TIA), and Uniswap (UNI), told a very different story.
According to Rekt Capital’s altcoin newsletter published on Friday, there was growing technical weakness across a handful of names this week. Bittensor was forming a “new multi-month downtrend,” IO.NET (IO) “lost its technical uptrend” after failing at a supply zone, and Celestia was stuck inside a symmetrical triangle with roughly 50/50 odds of breaking down.
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TAO’s price was down by 0.3% during the past day. On Stocktwits, the retail sentiment around TAO remained in the ‘bullish’ zone, while chatter around it stayed in the ‘high’ levels over the past day.
Uniswap Outperforms Through Bitcoin’s Stability
Meanwhile, the analyst said that Uniswap was testing a major multi-year support at $4.12 that has since turned into resistance. This level could have dictated whether it pushed back into its broader downtrend structure or continued consolidating in the $3 to $4 range.
TIA’s price and Lighter’s (LIT) price were the week’s worst performers, down more than 6% and 5%, at the time of writing. AI-focused infrastructure tokens Bittensor and IO.NET also fell behind Bitcoin, down more than 1% and 2%, respectively.
On Stocktwits, retail sentiment around TIA remained in the ‘bullish’ zone, whereas retail sentiment around LIT remained in the ‘bearish’ zone.
In this respect, Bitcoin’s flat week was more of a stable outcome, where only Aster (ASTER) and Uniswap surpassed it, both up over 3% on the week.
Bitcoin’s price was down over 1% during the past 24 hours. On Stocktwits, the retail sentiment around BTC shifted to ‘neutral’ from the ‘bullish’ zone, while chatter around it remained at ‘low’ levels over the past day.
The Broader Altcoin Picture
The winners and those in loss, in Rekt Capital’s basket this week, were not happening in a vacuum.
Crypto analyst Michaël van de Poppe also noted similar pockets of strength in other areas of the altcoin market. On Ondo (ONDO), a token tied to real-world asset (RWA) tokenization, he said the token “has had a tremendous move to the upside” and hit his target zone, which he called the start of an uptrend. “A 5-15% correction would be nice. I’d be a buyer of a dip,” he added.
Source: finance.yahoo.com