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

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

May 03, 2024 @ 09:21 // Price


Bulls are in trouble, and the top altcoins below will lose value by April 2024. Altcoins are continuing their sideways movement after breaking through key support. Some of these cryptocurrencies have been covered.

Helium

Prices of Helium (HNT), a cryptocurrency, are falling in a sideways fashion. Altcoins had previously reached a peak of $10, before falling into a sideways pattern. Before its decline, the altcoin price range was between $5.50 to $10.00. Bulls purchased the dips, and the altcoin dropped to $3.65. HNT was worth $5.00 when this article was written.

The cryptocurrency is currently trapped between moving average lines. It oscillates between moving average lines. If HNT closes above its 50-day moving average, it is likely that the trend will continue upward. The altcoin is likely to test its previous peak of $10. This altcoin has the best performance with the following characteristics.

Current price: $5.03

Market capitalization: $1.122.228,357

Trading volume: $31,553,976

7-day gain: 30.69%

TRON

After reaching resistance at $0.144, the price of TRON is now falling. The altcoin dropped below the moving-average lines and hit a low of $0.0010. TRON recovered over the current support of $0.10 and the altcoin rose beyond the moving average lines.

TRON's previous high of $0.144 will be reclaimed if the bullish momentum is maintained above the moving-average lines. If the bears breach the SMA 21-day line, however, the downward trend will resume. TRON is the second best performing altcoin and has the following features.

READ  Bitcoin Price Collapses and Threatens to Fall To A Low of $58,500

Current price: $0.1207


Market Capitalization $10.565.021.232


Trading volume: $482,396,714


7-day loss: 4.20%

KuCoin Token

KuCoin Token's (KCS) price is falling in a sideways fashion. The altcoin reached a price high of $16 in the last few days before it was dumped. Altcoin dropped to $7.62 but bulls purchased the dips. KCS corrected up and broke above the 21-day SMA, but failed to surpass the 50-day SMA.

Altcoins are currently worth $9.39. The cryptocurrency is trapped between moving average lines. The KCS coin, the third most valuable, has these characteristics:

Current price: $9.49

Market Capitalization: $1.614,732,954

Trading Volume: $1,905,486

7-day Gain: 2.98%

GateToken

GateToken (GT), while in an upward trend, has dropped below the moving-average lines. Altcoins have fallen from a peak of $11.47. Altcoins plunged from a high of $11.47 to $6.28 after rejecting it. Bulls purchased the dips. GT has corrected upwards and is stuck between the moving-average lines.

If buyers maintain the price above 50-day SMA, the altcoin could return to its former high of $11. GT is the coin with the fourth best performance. It is characterized by:

Current price: $7.60

Market Capitalization: $2.278,516,231

Trading volume: $7,263,593

7-day gain: 1.44%

UNUS SED LEO

UNUS SED LEO is currently in a sideways movement and trading under the overhead resistance of $6.20. Altcoins are currently trading between $5.60 and $6.20. Doji candlesticks have slowed the price movement. The price of cryptocurrency is currently trading between moving average lines. The altcoin begins to rise when the moving average line is broken. LEO's current value is $5.89. FLOKI is the fifth most popular cryptocurrency. It offers the following benefits:

READ  Offchain: Five Big Crypto Themes for 2024

Current Price: $5.84

Market Capitalization: $5,765,858,934

Trading volume: $1,296,590

7-day gain: 1.43%

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 an endorsement from CryptoGuestPosts. Before investing in funds, readers should conduct their own research.

IT'S TIME TO GO VIRAL

Tap into thousands of readers who are craving the next big crypto projects -- Submit Your Guest Post Now.