Crypto Market Sees Wild Swings, FORM Leads with 18.32% Gain

This week, the crypto market saw significant price movements, with several tokens experiencing extreme gains and losses. Four [FORM] led the weekly gainers with an 18.32% increase, driven by a massive 80% surge in a single day. The token reached a fresh all-time high of $2.97 before profit-taking pulled it back to $2.60. However, bulls quickly regrouped, pushing FORM to $2.86 at press time. Technical indicators suggest bullish divergence, and with firm support, FORM is poised to challenge the $3 resistance level soon.

Onyxcoin [XCN] followed with double-digit gains, but its momentum cooled off midweek. After a 20.97% rally on May 15, XCN faced resistance at $0.020, with the RSI tipping downward. Volume decreased by 27.77%, indicating potential bearish pressure. Caution is advised as a long squeeze could drag XCN lower.

Dogwifhat [WIF] made a notable breakout with a 13% rally, driven by a 26.39% candle on May 12. This move flipped a key level into support, invalidating the local bearish bias. However, momentum overheated quickly, and WIF retraced to $1.01 at press time. To reload and break higher, bulls need to defend the $0.90–$1.00 demand zone convincingly.

On the losing side, Pi Network [PI] topped the loser board with a 29.65% correction, erasing last week’s gains. Despite an initial 43.72% intraday surge, PI retraced to $0.69 by week’s end due to profit-taking and a liquidity hunt. With trading volume down 42%, PI’s bounce looks speculative, and it may remain grounded without significant dip-buying.

Optimism [OP] tumbled 18.10% after a failed breakout attempt near $0.9735. Bears exploited the low-conviction bid, triggering a sell-side cascade that left OP near $0.70. Reclaiming $0.68 as a strong demand zone is crucial, but further weakness could lead to a deeper leg down without buyer support.

Brett [BRETT] slipped 11.35%, but staged a sharp 13.01% intraday reversal at press time, signaling a potential trend shift. If bulls defend this bounce zone, BRETT could be gearing for a chart flip, with volume ticking up and rotational capital potentially circling back.

Other notable winners included Launchcoin [LAUNCHCOIN] with a +2002.2% move, Maple [MPL] surging +1761%, and Babyboomtoken [BBT] popping +270%. Notable losers were Housecoin [HOUSE] with a -58% retracement, Revox [REX] sliding -50%, and Doodles [DOOD] down -34.2%.

Despite the mixed performance, the total crypto market cap still managed a 2.5% gain to hit $3.43 trillion. Bitcoin [BTC] saw a modest 0.73% increase, while Ethereum [ETH] surged 15.8%. Whale activity surged as Strategy accumulated 13,390 BTC worth $1.34 billion, and Tether purchased 4,812 BTC for $459 million. However, it was the high- and mid-cap altcoins that grabbed the spotlight, stealing liquidity flows and potentially signaling the start of a rotation season.