The cryptocurrency market displayed notable polarization this week, with clear winners and losers emerging across various tokens. Despite broader market challenges, several cryptocurrencies posted impressive gains, while others continued their downward trajectory.

Biggest Gainers

Toncoin (TON): Telegram-backed Token Breaks Out

Toncoin (TON) emerged as the standout performer this week, surging 20% from $2.90 to $3.47. The Telegram-backed cryptocurrency demonstrated remarkable strength, particularly after consolidating in early March. TON began to build a solid foundation around $2.90, and the price surge accelerated dramatically on March 15 when the token pushed through key resistance at $3.00. The rally continued on March 16, with TON soaring to a weekly high of $3.60, marking its largest single-day gain in over three months.

Technical indicators turned bullish, with the Relative Strength Index (RSI) climbing above 70, suggesting slightly overbought conditions. However, the strong volume backing the move indicates substantial conviction behind the rally. For traders, $3.60 is the immediate resistance, and a breakout could target the psychological $4.00 level. The support zone between $3.30-$3.40 should be closely watched for any signs of weakness.

Kava (KAVA): DeFi Platform Shows Resilience

Kava (KAVA) was another strong performer, increasing by 18% from $0.42 to $0.49. The DeFi platform token displayed resilience in a challenging market. Kava’s rally unfolded in two phases: initially climbing from $0.42 to $0.43 between March 10 and 12, before experiencing a decisive breakout on March 14. KAVA surged 10% in one session, with significant volume expansion.

The Relative Strength Index remains elevated but not overbought, suggesting potential for continued upside. Kava has broken through its multi-week resistance level at $0.46, which should now serve as solid support. The rally appears supported by increasing development activity on the Kava platform, suggesting that the rise is not merely driven by speculation.

Story (IP): Gaming Token Continues Winning Streak

Story (IP), a blockchain gaming token, extended its impressive gains this week, rising by 15% from $4.90 to $5.65. The token has now posted consistent weekly gains, solidifying its position as one of 2025’s strongest performers. IP’s price action was characterized by steady momentum, with a breakout on March 13 that saw the token surge 16% in one session. While there was some profit-taking, the token maintained strong support above the critical $5.60 level.

With sustained trading volume, particularly during the March 13 surge, IP displayed exceptional strength. For traders, the $5.60 level represents key support, and a rebound from this zone could target recent highs above $6.30.

Biggest Losers

Ethena (ENA): Synthetic Dollar Protocol Faces Pressure

Ethena (ENA) suffered a challenging week, dropping 17% from $0.44 to $0.36. The synthetic dollar protocol continued its multi-month downtrend, with aggressive selling pressure emerging early in the week. The price failed to hold the $0.45 resistance level, and by March 12, the selloff had accelerated, pushing the token below the crucial $0.40 mark.

The token found temporary support at $0.36, but subsequent relief bounces were weak. Technical indicators suggest a bearish trend, with both the 50-day and 200-day moving averages trending lower. To recover, ENA must reclaim the $0.38 resistance level, but the current market structure suggests further downside may be likely.

Ethereum Name Service (ENS): Domain Protocol Continues Decline

Ethereum Name Service (ENS) also faced a rough week, dropping 15% from $20.00 to $16.95. The domain protocol token struggled to hold key support levels, particularly the $18.00 mark. After briefly finding support at $15.50, the token saw weak recovery attempts, with selling pressure capping any rebound. ENS remains firmly in bearish territory, and the $18.00 level must be reclaimed for a meaningful recovery.

Hedera (HBAR): Enterprise Blockchain Faces Selling Pressure

Hedera (HBAR) dropped 14% from $0.22 to $0.19, experiencing consistent selling pressure throughout the week. The decline began early, breaching the critical $0.20 support level. HBAR’s price found temporary relief at $0.185, but recovery attempts remained weak, with fresh selling pressure re-emerging. For a meaningful recovery, HBAR must reclaim $0.20, but the current trend suggests this level may now act as resistance.

Conclusion

The cryptocurrency market demonstrated significant volatility this week, with Toncoin, Kava, and Story showing strong performance, while Ethena, ENS, and Hedera faced continued losses. Given the volatile nature of the market, traders must remain cautious and selective, closely monitoring key support and resistance levels. As always, doing your own research (DYOR) before making investment decisions is crucial in navigating these turbulent waters.