Altcoins to follow this week: CFX, PENGU, ENA, PUMP, XTZ have experienced significant fluctuations, and the battle between long and short positions may encounter larger close all positions.

The volatility of the crypto assets world is testing investors' confidence, as last week Satoshi Nakamoto's whale suddenly transferred 80,000 Bitcoins (BTC), and traders are closely watching the alts' fluctuations. Looking back at last week's trends, Conflux (CFX), Pudgy Penguins (Pengu), Ethena (ENA), PumpFun (PUMP), and Tezos (XTZ) experienced significant fluctuations, and there may be greater shocks this week.

Conflux (CFX): Public Layer 1 (L1) Blockchain Weekend Bounce

CFX was the highlight of last week, rising 30% from its opening price of $0.105. However, the price trend of CFX has raised far more questions than enhanced confidence.

CFX broke out with a parabolic increase of 122% early last week, breaking through a four-month range and reaching a new high of $0.246, while the RSI indicator has entered a severely overbought territory.

However, this excitement did not last long. CFX retraced nearly 80% during the week, dropping to $0.15—indicating that the market has entered a bearish peak rather than a sustained consolidation phase. Therefore, the technical structure remains intact, but confidence in the upward momentum has weakened.

In such a volatile market, strong purchasing power is needed to "turn the tide"—clear price support to attract funds from outside bulls.

As of now, CFX has rebounded 20% from the $0.15 region, indicating that we are either forming a base or preparing to advance towards the $0.20 milestone again.

Regardless of the situation, purchasing power is starting to rebound, and CFX is attracting the attention of investors. If this recovery momentum continues, CFX is likely to break through the next important technical level soon.

(Source: Trading View)

Pudgy Penguins (PENGU): Meme coins show a clear upward trend

PENGU quietly follows in the footsteps of Conflux, rising 28% from its opening price of 0.03 USD. However, unlike the crazy surge of CFX, PENGU's rise is very "manageable," showing a clear bullish intent from the bulls.

At the beginning of last week, PENGU challenged the resistance level of $0.03—this resistance level was exactly at the top of last week's narrow fluctuation range. The price could have broken out in either direction, but the bullish forces rose strongly, pushing the price up by 30%.

The midweek pullback was -12.28%, but there are no signs of further weakness. As buyers quickly returned, PENGU rebounded and broke through the $0.04 mark, closing strong.

The bullish momentum is clearly continuing. Currently, PENGU may test the local high of $0.046, and if the bulls continue to apply pressure, the $0.05 level is almost within reach.

(Source: Trading View)

Ethena (ENA): Stablecoin protocol continues to rise strongly

ENA was the third largest token by growth last week, increasing by 24.15%. The current price is approaching the supply range of 0.6 dollars.

ENA opened slightly below the resistance level of $0.50 last week. After experiencing a rapid fluctuation of 11%, bulls quickly returned. A strong rebound (up nearly 30% within 3 days) pushed the price to a high of $0.63, marking a new peak since the first quarter. The price slightly retraced by 1.37% on the day, which could be a sign of a short-term pullback.

However, buying pressure still exists, and the price structure remains bullish. If the $0.6 area is clearly broken, August may see a new round of rebound.

(Source: Trading View)

PumpFun (PUMP): A Practical Meme Coin Platform Hits a New Low

PUMP closed down last week, falling 34.62% from the opening price of $0.0042, making it the biggest loser of the week.

This is not a coincidental drop. As pointed out, the reason is related to the intensive token distribution during the ICO period. After PumpFun went live, millions of dollars were invested in a buyback plan to support the price.

Specifically, since its launch, the team has spent a total of $19.6 million to buy back tokens. However, according to Cirrus, these tokens are now worth only around $7.6 million—this clearly indicates that the buying pressure has not kept up with the selling pressure.

The market capitalization of PUMP increased by 8%, and the trading volume rose by 15%, indicating a possible early wave of "bottom fishing"—likely coming from the development team to create a FOMO effect while the supply is still cheap.

However, unless PUMP can maintain a 7% rebound from the weekly low of $0.0023, it is still too early to call it a clear reversal.

However, if PUMP can consecutively close two green candles on the weekly chart, this will be a positive structural change worth closely monitoring next week.

(Source: Trading View)

Tezos (XTZ): Governance Protocol Reverses Bearish Trend

XTZ ranks as the second largest coin by decline, with a cumulative drop of 17.23% this week, following a deep correction after last week's significant increase of 66.57%.

This is a typical distribution pattern: the upward momentum loses strength, sellers take control of the market, and prices begin to cool down. The biggest question is: is this just a short-term pullback, or the beginning of a deeper collapse?

As of now, the daily chart shows that this is a technical "reset" rather than a breakdown. XTZ fell to $0.80 earlier this week, but buying pressure quickly emerged, pushing the price up to $0.89.

This rebound indicates that there is still demand at the bottom. If the bulls continue to hold this area, the possibility of XTZ breaking through to the 1 dollar range is entirely possible.

(Source: Trading View)

CFX-0.57%
PENGU-6.28%
ENA-4.12%
PUMP-6.72%
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GateUser-efcad837vip
· 11h ago
Hurry up and enter a position! 🚗
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GateUser-efcad837vip
· 11h ago
Just go for it💪
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GateUser-efcad837vip
· 11h ago
Hold on tight, we're taking off To da moon 🛫
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