Weekly Cryptocurrency Analysis: Altcoins Crash as They Lose Support levels

Weekly Cryptocurrency Analysis: Altcoins Crash as They Lose Support levels

Jan 30, 2024, 06:38 // Price


Altcoins could see a further drop as the worst performing cryptocurrencies are trading in a bearish market trend zone.

Cryptocurrencies have lost their current level of support. We will discuss a few different crypto-currencies.

ORDI

ORDI has fallen below its moving average but remains above the support of $48. After reaching a peak of $91 on Jan. 2, the previous trend is over. Altcoins have been on a downward trend for the past three weeks. ORDI is still above $51 as the downward momentum has slowed. ORDI currently has a value of $56. The current support has held since December 17,2023. If the current support is maintained, ORDI's upward trend will resume. If buyers are unable to maintain the price above the high of the last few days, the price may move between $51-$66. Breaking above the moving-average lines will signal a resumption in the trend. By these measures, ORDI has the lowest performance among cryptocurrencies.

Current price: $56.50

Market Capitalization: $ 1,186,403,063

Trading volume: $187,271,077

7-day loss: 11.17%

WOO

WOO's price is currently trading below moving average lines, and it could continue to fall. Bulls bought the dips on January 23 when the altcoin dropped to $0.32. Altcoins are falling as they face further rejection. If the bears continue to fall below the $0.32 support level, the downward trend will continue until $0.23. If the current level of support holds, then the sideways trend is likely to resume. The cryptocurrency price will fluctuate between $0.32 to $0.42. The altcoin WOO is the second-worst performing altcoin. Below are some of the most striking features:

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Current price: $0.3541

Market capitalization of $790.172.114

Trading volume: $13,274,065

7-day loss: 7.57%

Mantle

Mantle's (MNT) price is dropping below the moving-average lines, but remains above the $0.59 level of support. Altcoins have reached a point of bearish exhaustion, and are consolidating above $0.59. Over the last week, the price of cryptocurrency has been consolidating over the current support. According to the price indicator, if the current support level is broken, altcoins will fall lower and reverse higher than the $0.54 mark. Altcoin is currently at a low price of $0.60. MNT was rated as the third-worst performing altcoin. It is characterized by:

Current price: $0.6097

Market Capitalization: $ 3,791,705,144

Trading volume: $64,791,360

7-day loss: 7.39%

Litecoin

Litecoin's (LTC), price has dropped below the moving-average lines. Altcoins are trading within the range from $60 to $70. Litecoin now has a value of $67.69. The altcoin has now reached its highest price of $68. As the trend is established, the price of cryptocurrency will fluctuate in its range. Litecoin's price will return to a positive trend if the moving average line or $70 resistance is broken. Litecoin has the fourth-worst performance of all cryptocurrencies. It is characterized by the following:

Current price: $67.68

Market Capitalization: $ 5,683,357.372

Trading volume: $250,897,551

7-day loss: 6.49%

Astar

Astar (ASTR), which has recovered from its recent downturn, is currently on the rise. Altcoins have risen to $0.19, but adoption is still difficult at this price. Since January 3, altcoins have been fluctuating under the resistance level $0.20. If the price of cryptocurrency drops below the moving-average lines, the selling pressure will increase. The altcoin trades above the moving-averages, but below the barrier. ASTR has the lowest performance of all the cryptocurrencies.

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Current price: $0.1796

Market Capitalization: $ 1,487,278,842

Trading volume: $29,067,618

7-day loss: 6.16%

Disclaimer. This analysis and forecast is the personal opinion of the author. It does not constitute a recommendation for the purchase or sale of cryptocurrency, and should not therefore be considered as a endorsement by CryptoGuestPosts.com. Before investing in funds, readers should conduct their own research.

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