FTX Token
FTX Token (FTT) has experienced a recovery, but it has now fallen below the moving average lines. The cryptocurrency reached a high of $5.53 but couldn’t sustain the positive momentum. It is currently oscillating between the moving average lines, but if it falls below them, selling pressure will continue and FTT could drop even lower to $1.20.
Pyth Network
Pyth Network (PYTH) has fallen below the moving average lines, dropping from $0.54 to $0.38. However, the current support level of $0.38 has held since November 30, indicating that the downtrend may not continue.
Pepe
Pepe (PEPE) has been on an upswing after recovering from a previous downturn. It reached a high of $0.000001753 and is currently testing the resistance zone at $0.000001800. If it breaks this barrier, PEPE could rise further to $0.000002941.
Chainlink
Chainlink (LINK) has reversed its downtrend and is currently priced at $14.33. However, if it falls below the 50-day simple moving average, the market could drop to a low of $11.
THORChain
THORChain (RUNE) has recovered from its previous downtrend and reached a high of $7.28. But it is now approaching the 50-day SMA or a low of $5.38, indicating a bearish trend.
Hot Take: Cryptocurrencies Experience Declines After Recent Rises
The worst performing altcoins of the previous week are on the retreat, with FTX Token, Pyth Network, Pepe, Chainlink, and THORChain experiencing declines. Altcoins are at risk of further drops if they fall below moving average lines. These cryptocurrencies are either trapped or in a trading range. It’s important to monitor their performance and market trends to make informed investment decisions.
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