Five Cryptocurrencies Showing the Biggest Price Fall of the Week
The downtrend zone continues to be the trading area for the worst performing cryptocurrencies. The overbought condition of cryptocurrencies has prevented upward corrections in these altcoins.
Toncoin
The price of Toncoin (TON) has reached a ceiling of $2.64 and has declined over the past week. It is currently trading above the 50-day line SMA but below the 21-day line SMA. TON has fallen to a low of $2.13 and may fall further if bearish momentum continues. The bearish momentum of the daily stochastic has weakened below the 60 level, indicating a downward trend.
Characteristics:
- Current price: $2.14
- Market capitalization: $10,779,997,488
- Trading volume: $22,448,225
- 7-day loss: 7.14%
UNUS SED LEO
UNUS SED LEO (LEO) has dropped below the moving average lines and is currently trading at $3.65. If bears manage to break the current support, it may fall further to its previous low of $3.52. LEO is in the negative trend zone at level 42 of the Relative Strength Index for the period 14.
Characteristics:
- Current price: $3.65
- Market capitalization: $3,586,484,381
- Trading volume: $622,627
- 7-day loss: 5.70%
Immutable
Immutable (IMX) is correcting upwards after being in a downtrend. It is currently trading at $0.6037 and has the potential to resume its uptrend if it breaks the resistance at $0.80. However, if it falls below the moving average lines, the decline will continue.
Characteristics:
- Current price: $0.6037
- Market capitalization: $1,207,489,571
- Trading volume: $17,959,704
- 7-day loss: 4.62%
GateToken
The price of GateToken (GT) has dropped significantly and is currently trading at $3.74. The bears are targeting the previous low of $3.59. GT has slipped into oversold territory with a reading of 28 on the Relative Strength Index for the 14 period.
Characteristics:
- Current price: $3.74
- Market capitalization: $1,120,891,821
- Trading volume: $509,662
- 7-day loss: 5.5%
Hedera
The price of Hedera (HBAR) is down and currently between moving average lines. The recent upward correction was stopped at $0.070 and it has fallen as low as $0.050. The price has remained stable above the $0.04 support level. The bullish momentum has stalled above the daily stochastic threshold of 25.
Characteristics:
- Current price: $0.04999
- Market capitalization: $2,499,110,930
- Trading volume: $28,467,238
- 7-day loss: 3.49%
Hot Take: Five Cryptocurrencies with the Biggest Price Fall This Week
The cryptocurrency market has seen several altcoins experiencing significant price falls this week. Toncoin (TON), UNUS SED LEO (LEO), Immutable (IMX), GateToken (GT), and Hedera (HBAR) have all shown negative performance. These cryptocurrencies have faced bearish momentum and have fallen below key moving average lines, indicating a downtrend. It remains to be seen whether these altcoins can recover from their current lows or if further declines are in store. Traders and investors should closely monitor the market conditions and consider these factors when making decisions regarding these cryptocurrencies.
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