Weekly Cryptocurrency Analysis: Altcoins continue to fall while Cryptos move into a bearish zone

Weekly Cryptocurrency Analysis: Altcoins continue to fall while Cryptos move into a bearish zone

May 12, 2024, 14:57


These altcoins are those that have performed the worst and fallen below moving average lines.

This means that altcoins' prices will continue to drop while they are in the bearish zone. CryptoGuestPosts has analysed the worst performing altcoins from the previous week.

Wormhole

After the recent drop, the price of Wormhole W is consolidating over the $0.64 level. The altcoin reached a high of $1.94 in the previous price movement. The crypto asset is falling as it reaches a market overbought zone. The dominance of the doji candlesticks has kept prices stationary. Wormhole was worth $0.60 as of the date of this article. The altcoin has the worst performance of all cryptocurrency.

The following are its characteristics:

Price: $0.5999

Market capitalization: $ 1,079,850 570

Trading volume: $98,095,508

7-day loss: 16.85%

Core

The price of Core has dropped below the moving-average lines. Before the recent drop, Core was in a bullish market. CORE reached a high of 4,18 dollars before being sold. The altcoin is now below the moving-average lines. CORE was worth $1.58 as of the date of this article. The altcoin's price is falling towards the previous low, $1.20. If the $1.20 support holds, then the uptrend will continue. If not, the price will drop to a new low of $0.60.

READ  Polygon Price Drops to $0.73 but recovers above that low

CORE is the second-worst performing cryptocurrency. It is characterized by:

Price: $1.61

Market capitalization of $3,374,768,431

Trading volume: $69,201,635

7-day loss: 13.86%

Helium

Helium (HNT), while in a bullish market, has fallen below the moving average lines. The altcoin reached a peak of $11 in the previous uptrend before encountering resistance. HNT had to move in a sideways motion below the recent high before it began its decline. Bulls snapped up the altcoin at $3.50. Helium corrected upwards above the moving-average lines, but was further resisted by the bulls at the $6.00 high.

HNT dropped below the moving-average lines following the recent rebound. If buyers maintain the price above moving averages, and surpass resistance at $6.00, the uptrend will resume. Due to these characteristics, the HNT coin is the third-worst performing coin.

Current price: $4.71

Market capitalization: $ 1,050,809 735

Trading volume: $13,169,128

7-day loss: 11.59%

Lido DAO

Lido (LDO) has recovered from its previous downtrend, but it is still below the moving-average lines. Bulls snapped up the altcoin's dips on April 13 as it fell to $1.60. Since April 14, the drop has been halted above the $1.85 resistance. If the bears breach the $1.85 support, the selling pressure will increase. LDO is likely to retest its previous low of $1.60. LDO is the fourth-worst performing cryptocurrency.

These are the key characteristics of:

Current price: $1.77

Market capitalization: USD 1,770,454,664

Trading volume: $72,760,609

7-day loss: 8.16%

Optimism

The price of Optimism is on an upward trend and trading in a bullish market. OP's price has been characterized by a series higher highs and lower lows. Altcoins are now bearish, after hitting resistance at $4.86. On April 13, OP dropped to a low price of $1.81, as bulls purchased the dips. The altcoin rose above the moving-average lines, but was stopped at the 50-day SMA. The cryptocurrency was trading at $2.54 when this article was written. The altcoin uptrend will continue as long as buyers keep the price over the moving average and the resistance level of $3.00.

READ  Weekly Cryptocurrency Market analysis: Altcoins continue to find support in their sideways trend

OP is the fifth-worst performing cryptocurrency. It is characterized by the following:

Price: $2.55


Market Capitalization: $10.942.306.049


Trading volume: $193,344,217


7-day loss: 8.80%

Disclaimer. This analysis and forecast is the author's personal opinion and not a recommendation for buying or selling cryptocurrency. It should not be seen as a endorsement by CryptoGuestPosts. Before investing in funds, readers should conduct their own research.

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