Altcoins Shine as Bitcoin Trades Flat
BTC traded roughly flat over the past week, but several AI infrastructure and decentralized finance (DeFi) tokens saw significant moves. Bittensor (TAO), Celestia (TIA), and Uniswap (UNI) were among those that outperformed Bitcoin.
According to Rekt Capital's altcoin newsletter, 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.
Uniswap, on the other hand, 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.
Crypto analyst Michaël van de Poppe noted similar pockets of strength in other areas of the altcoin market. He said Ondo (ONDO) '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,' he added.