The global crypto market cap added $140 billion, spiking 6.3% to close the week above a two-month peak of $2.35 trillion.
Bitcoin (BTC) championed the recovery, breaking past $68,000 and sparking a strong rally across the altcoin market.
Here are some of the assets that leveraged this rebound campaign and how they performed:
DOGE records seven straight intraday gains
Dogecoin (DOGE) was one of the biggest beneficiaries of the market recovery last week, recording seven consecutive days of gains throughout the week.
DOGE 1D chart – Oct. 20 | Source: crypto.news
The dog-themed meme coin closed the week at a four-month high of $0.144, having gained 27%. This marked Dogecoin’s best weekly performance since late February during the broader meme coin market rally.
However, the latest uptrend has faced a roadblock, following a spike in the Dogecoin CCI to 247. If this week introduces bearish pressure, DOGE would need to hold above $0.137 to avoid the 20-day SMA support at $0.116.
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APE spikes 54% on mainnet launch
Despite underperforming throughout last week, ApeCoin (APE) engineered a last-minute rally that saw it close the week at $0.87 amid a 20% gain.
APE 1D chart – Oct. 20 | Source: crypto.news
This upsurge was mainly due to the mainnet launch of ApeChain, the project’s blockchain, yesterday.
Ok degens, the official bridge is https://t.co/aC2RId37gnFor the love of god @apecoin tweet this out on it’s own and pin it somwhere 🫡You degens are already bridging like crazy and sending shitters nonstop, this is fun, can’t even imagine tomorrow with @Toptrader_xyz live 😂 pic.twitter.com/iOWHN80ppL
— ApeCoin (@apecoin) October 19, 2024
After breaching $0.92, APE faced major resistance at the upper Bollinger Band yesterday. However, the uptrend resumed in the new week, with APE surging 54% to breach the $1 mark for the first time in four months.
Meanwhile, its RSI has crossed into overbought territories at 85. This position suggests the rally might face exhaustion without renewed buying pressure. A drop below $1 could lead to steeper declines.
DIA hits 32-month peak
DIA (DIA) began the week bearish, but recovered to outperform most assets. After a mixed performance, DIA spiked by a massive 42% on Oct. 17, reclaiming $1 for the first time in two years.
DIA 1D chart – Oct. 20 | Source: crypto.news
Following an 8% correction the next day, DIA resumed the uptrend, gaining by another 14% on Oct. 19. This allowed it to close the week with a 44% gain, trading at a high last seen 32 months ago. Its monthly volume has spiked to 716 million DIA, the highest in history.
Meanwhile, the token’s +DI has spiked to 40.28, confirming immense bullish momentum. The ADX at 50.19 suggests that the push is especially strong. However, this could also indicate an overextension of the rally, with a correction looming.
Read more: Bitcoin ETFs surpass $2.1b weekly inflows, whale accumulation mirrors 2020 rally
