The global crypto market cap ended last week with a 7% drop, losing $160 billion as it closed at $2.15 trillion.

While Bitcoin (BTC) influenced the broader market, several altcoins charted their own paths, benefiting from unique developments within their ecosystems.

Here are some of these cryptocurrencies to keep an eye on this week, following their diverse price movements last week:

HMSTR collapses 18% 

Hamster Kombat (HMSTR) saw a bearish week, dropping 18% to $0.004714. Its worst day came on Oct. 1 when it fell 13.94% amid a broader market decline on the back of geopolitical tensions.

Last week’s bearishness built on a downtrend HMSTR has faced since its airdrop on Sept. 26. However, the four-hour chart shows some signs of recovery, with the RSI sloping upward, now at 42.82.

For the DMI, the +DI is steady at 17.46, signaling slight buyer momentum. However, the -DI at 23.07 slopes downward, indicating weakening selling pressure. The ADX is at 22.68 and trending downward, as the current trend loses strength.

These figures suggest a possible recovery if buying momentum continues, with bulls possibly targeting $0.0051. However, the downtrend may persist if buyers do not pick up pace this week.

SUI demonstrates resilience 

Sui (SUI) showed resilience despite broader market volatility, dropping only 0.3%. On Oct. 1, amid market turmoil, SUI dipped just 0.97%.

However, it saw a sharper 10.38% decline on Oct. 3, its largest intraday crash in three months.

SUI appears to be forming a bull pennant following its uptrend in September. Currently, the Bollinger Bands indicate the upper band at $1.97, which acts as resistance, and the 20-day MA at $1.62 provides immediate support. 

With SUI trading below the upper band, the price could stabilize above the $1.62 support.

Investors should monitor for a bounce between $1.62 and $1.97, with a breakout above the resistance likely signaling bullish momentum for the week.

FTT bucks the trend

FTX Token (FTT) defied market trends last week, gaining 22% while most assets declined.

On Oct. 1, FTT rose by 13.89%, followed by a 21.53% surge on Oct. 4 and another 9.86% the next day. 

Amid this uptrend, the Williams Percent Range stands at -32.59, signaling that FTT is near overbought territory but still has room for further gains. 

As it witnesses a 9% retracement this new week, bulls need to defend the Pivot support at $2.01 to prevent a slip into bearish territories. Below this, the next support rests at $1.33, marking lows last seen in two weeks.

Should FTT recover from the latest correction, market participants should watch for a break above the resistance level at $2.68, which continues the bullish momentum.

The Ethereum price surged 1.03% during the low-volatility Sunday trading session to currently trade at $2,438.The upswing market is a recovery from weekday selling pressure fueled by a war-like situation between Israel and Iran. Will the correction trend extend as ETH L1 fees record an all-time low, promoting a reverse from the prior deflationary trend?

$3K Ethereum Price Rally at Stake as Post-Dencun Inflation

Following the Dencun upgrade, Ethereum’s Layer 1 (L1) fees have witnessed a declining trend to hit an all-time low in mid-2024. The Intotheblock analytics shows the implementation of EIP-4844 has plunged the cost of Layer 2 (L2) transactions by 10x. 

The sharp decline in L1 fees reflects the continuous growth of L2 solutions like Optimism and Arbitrum, which offer faster and more cost-effective transactions. While this move has bolstered Ethereum’s scalability, it has unintended consequences.

As fewer fees are being burned, the supply of ETH has entered an inflationary phase, reversing its prior deflationary trend. If crypto buyers struggle to demand pressure corresponding to the addition of supply, the Ethereum price prediction will witness temporary pullbacks and volatility.

Post-Dencun, Ethereum Mainnet fees hit an all-time low as L2 transactions surged. EIP-4844 slashed L2 costs by 10x, driving record activity.

But with fewer fees burned, $ETH has turned inflationary, reversing its recent deflationary trend. pic.twitter.com/W3p0xuKRXe

— IntoTheBlock (@intotheblock) October 6, 2024

In addition, the renowned crypto analyst Ali Martinez highlights a notable decline in Ethereum large holders with over 10,000 ETH balances. Since July, the whale holding has plunged 7%, indicating that smart money traders are mainly exiting in anticipation of price correction.

The number of #Ethereum whales holding over 10,000 $ETH has decreased by over 7% since July! pic.twitter.com/rRnIDVj2VO

— Ali (@ali_charts) October 5, 2024

ETH Price Hints Major Breakout From Triangle

Over the past two months, the ETH price has shown a sideways trend above $2,200 support. This consolidation in the daily transient Chart shows the price actively resonates between two converging trends and indicates a symmetrical triangle pattern formation. Theoretically, this chart pattern guides a temporary lateral move for prevailing trends to gain momentum.

As the crypto market experienced ease from geopolitical tension in the Middle East, the Ethereum price rebounded from $2,308 to $2,440, accounting for a 5.7% jump.

If the sellers breached the pattern’s lower trendline at $2,200, the bearish momentum would accelerate and drive ETH Crash below the $2,000 level, thus delaying the $3K rally.

The coin price below the 50-and-200-day Exponential moving average supports the bearish narrative.

However, if buyers manage to replenish bullish momentum, the Ethereum price could jump 9% before challenging the triangle resistance. A potential breakout would bolster buyers for the $3,000 target.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.