Five Cryptocurrencies Showing the Biggest Price Fall of the Week
The following cryptocurrencies have experienced significant price declines this week, with all except Trust Wallet Token (TWT) showing a downward trend. There is a possibility that these altcoins will continue to fall.
Trust Wallet Token
The price of Trust Wallet Token (TWT) has been on the rise, forming higher highs and higher lows. However, it has encountered resistance around $1.10 and is currently undergoing a pullback. If TWT finds support above the moving average lines, the upward trend will resume. A retracement has tested the 61.8% Fibonacci retracement line, and it is expected to rise to the 1.618 Fibonacci extension level of $1.24. Currently, TWT is trading in the overbought zone.
Current price: $1.03
Market capitalization: $1,028,093,004
Trading volume: $16,842,285
7-day gain/loss: 8.82%
Conflux
The price of Conflux (CFX) has experienced selling pressure after breaking its previous low of $0.11 and reaching a low of $0.10. It has attempted to retest the support level at $0.11 but failed, indicating that the downtrend will likely continue. CFX is significantly oversold in the market.
Current price: $0.106
Market capitalization: $559,452,847
Trading volume: $19,017,118
7-day loss: 7.98%
XDC Network
XDC Network (XDC) has fallen below the moving average lines, with doji candlesticks limiting its price movement. It is expected to continue falling to previous lows before potentially reversing at the 1.272 Fibonacci extension level of $0.039.
Current price: $0.04577
Market capitalization: $1,726,040,648
Trading volume: $3,205,740
7-day loss: 4.98%
Rocket Pool
Rocket Pool (RPL) has dropped and is currently trading below lower price levels. It has found support at $17 but remains resistant at the 21-day SMA. The altcoin is oversold in the market and may recover if buyers emerge in this area.
Current price: $19.18
Market capitalization: $379,216,683
Trading volume: $1,784,235
7-day loss: 4.89%
Klaytn
Klaytn (KLAY) has reached a low of $0.10 and is now correcting upwards. If it finds support above the moving average lines, the current uptrend will resume. KLAY is currently trading above the moving average lines and has reached a high of $0.12.
Current price: $0.1232
Market capitalization: $720,341,612
Trading volume: $7,587,682
7-day loss: 4.23%
Hot Take: Five Cryptocurrencies Experience Significant Price Declines
This week has seen several cryptocurrencies, including Trust Wallet Token, Conflux, XDC Network, Rocket Pool, and Klaytn, undergo significant price declines. While Trust Wallet Token has shown signs of an upward trend, the other altcoins have experienced downward trends. It remains to be seen whether these altcoins will continue to fall or if they will recover in the near future.
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