Crypto Weekly: Venice Token Surges 35% Amid Market Defense

Venice Token (VVV) gained more than 35% this week, marking the top performer in a defensive market. Bitcoin dropped below the $77,000 level as rising Treasury yields pressured risk assets. Investors rotated capital into utility-based narratives like privacy and DeFi.

The broader crypto market entered a cautious phase this week. Higher oil prices and growing expectations for Federal Reserve rate hikes drove the sell-off. However, the decline was not uniform across all sectors. Specific tokens showed strength despite the macro headwinds.

Privacy and Infrastructure Tokens Lead

Venice Token broke through the critical $20 resistance level. Its weekly RSI remains far below overbought territory. This technical position suggests more room for upside compared to its early-May rally. Analysts project a potential move toward the $25-$30 range if support holds.

Bitway (BTW) rose 22% to become the second-largest winner. The token has climbed for six consecutive weeks. It currently faces resistance near $0.60 with an overbought RSI. A correction is likely before any further upward movement occurs.

DeFi and Altcoin Movers Show Strength

Injective (INJ) gained 10% on Thursday, securing the third spot among winners. The token has climbed steadily since its mid-August correction to $5.30. Its RSI stays at a neutral level, indicating potential for continued gains. Price targets for late September sit between $6 and $7.

Smaller altcoins saw significant volatility. Lisk (LSK) led the action with an 877% move. GreenHood (HOOD) surged 455% and Stonk (STONK) gained 237%. These moves highlight the high-beta nature of lower-cap assets this week.

Arbitrum Faces Selling Pressure

Arbitrum (ARB) was the biggest loser, dropping 27% this week. This decline follows a 124% weekly increase from the previous period. The move appears to be a cooldown as resistance forms in the $0.20 zone. The RSI did not enter overbought territory during the prior rally.

The technical setup suggests a minor adjustment rather than a deep correction. Traders are watching to see if this sell-off turns into a longer trend reversal. According to GN markets/crypto (en-US), the market remains focused on these key technical levels. The next few days will determine the direction for these leading assets.