Tezos [XTZ] Surges 80% as Altcoins See Mixed Results

This week, the crypto market saw significant price movements, with several altcoins experiencing notable gains and losses. Tezos [XTZ], Curve DAO Token [CRV], and Ethena [ENA] led the pack with substantial price surges, while Pump.fun [PUMP], Hyperliquid [HYPE], and Pi [PI] faced significant declines.

Tezos [XTZ] emerged as the top gainer, surging over 80% from its base of $0.64. The altcoin reclaimed the key $1 psychological level it lost earlier in the year, marking a significant milestone. The breakout came on July 19th, with XTZ exploding 48.48% in a single day, its biggest daily gain since November. This move sent its Relative Strength Index (RSI) into overbought territory, indicating strong bullish momentum. If this momentum continues, XTZ could push toward the $1.20 resistance zone. However, there is also a risk of a snap back below the $1 handle if profit-taking or forced liquidations occur.

Curve DAO Token [CRV] followed closely, rallying 61% from its $0.61 open. CRV's price action mirrored that of XTZ, breaking through the $0.75-$0.85 supply zone and tagging the $1 level. However, bulls struggled to maintain this level, leading to a quick intraday fade. Despite this, CRV bounced back with a 3.78% push above $1, suggesting the trend remains intact. If bulls maintain momentum, CRV could target the $1.10 level next week.

Ethena [ENA] rounded out the top three gainers with a 56% rally from its $0.32 base. ENA broke through a key resistance level it had failed to flip four times since May, marking a clear inflection point. The altcoin saw an 11.20% intraday spike on July 19th, followed by a 15.11% move that sent it past $0.50 for the first time since January/February. With momentum still hot, ENA could have more room to run, potentially targeting the $0.65 level next week.

On the losing side, Pump.fun [PUMP] saw the most significant decline, dropping nearly 40% to close around $0.004. The selloff came late in the week, characteristic of a "hype cycle" topping out. Despite an 8.86% intraday bounce, PUMP needs to prove its resilience by forming a solid base. If bulls maintain pressure and broader sentiment stays risk-on, PUMP could recover and re-enter the gainer zone.

Hyperliquid [HYPE] ended the week down 6.5% from its $48 open. The pullback was textbook, with HYPE cooling off after hitting a new all-time high at $49.42. The altcoin found support around $45 and bounced nearly 3% over the next two days. If this level holds, HYPE could be eyeing another leg up, with a potential breakout above $50 next week.

Pi [PI] wrapped the week down 4.2% from its $0.46 open, posting five consecutive weekly lower lows. The trend looks bearish, with little sign of dip-buying despite the RSI dipping into oversold territory. Unless bulls step in to flip the trend, PI looks set to revisit the $0.40 zone next week, marking its sixth straight lower low since June.

In summary, the crypto market saw a mix of strong gains and significant losses this week. While some altcoins capitalized on growing traction within their sectors, others faced challenges maintaining momentum. As always, investors should stay informed, conduct thorough research, and trade responsibly.