Struggling Altcoins: A Weekly Update
This week, the worst-performing altcoins are facing challenges with overhead resistance, leading to a downward trend. While some cryptocurrencies are experiencing downward trends, others have returned to sideways movements.
FLOKI 🐕
The price of FLOKI (FLOKI) is currently in a bull market, showing continuous growth. However, it has reached resistance at $0.0002990, causing a horizontal trend. The price range for FLOKI is between $0.0001500 and $0.0003500. Despite the resistance, the cryptocurrency fell below the moving average lines. To resume the upward trend, bulls need to surpass the $0.0003500 resistance level.
- Price: $0.0002179
- Market capitalization: $2.11B
- Trading volume: $641.79M
- 7-day loss percentage: 28.87%
Fetch.ai
Fetch.ai (FET) is currently below the moving average lines and has dropped twice to a low of $1.60. If the current support holds, FET will trade within a range of $1.60 to $3.00. But if the support breaks, FET could fall to $1.10. Once it breaks above the $3.00 resistance level, FET will resume its uptrend.
- Price: $1.67
- Market capitalization: $4,400,320,544
- Trading volume: $200,429,114
- 7-day loss percentage: 28.51%
SingularityNET
SingularityNET (AGIX) is trading below the moving average lines after facing rejection at the $1.40 high twice. The altcoin has dropped to a low of $0.62 but is rising as the current support holds. AGIX could rally back to $1.40 if buyers maintain the price above the moving average lines, with the current price at $0.70.
- Current price: $0.6861
- Market capitalization: $1,372,192,096
- Trading volume: $881,147,806
- 7–day loss: 27.83%
Notcoin
Notcoin (NOT) is currently above the 21-day SMA and holding the support. It is trading within the 21-day SMA and a resistance level at $0.025. If bulls break through $0.025, NOT could reach $0.070. However, breaking below the 21-day SMA support could lead to a drop to $0.007 and $0.005, with the current price at $0.018.
- Current price: $0.018
- Market capitalization: $1,847,256,295
- Trading volume: $1,258,921,513
- 7–day loss: 27.61%
Arweave
Arweave (AR) has been struggling to break through the $48 overhead resistance level, hovering between $22.60 and $48. It has been rejected four times, dropping below the moving average lines. To change the sideways trend, bulls need to breach the $48 resistance level. Currently, AR is valued at $33.95, making it the fifth lowest performing cryptocurrency.
- Price: $33.95
- Market capitalization: $2,241,001,930
- Trading volume: $105,523,787
- 7–day loss: 26.81%
Hot Take: Keep an Eye on the Trends
As you track the performance of these struggling altcoins, remember to stay aware of the changing market trends to make informed decisions about your crypto investments. Keep an eye on the support and resistance levels for each cryptocurrency, as breaking through these key points could signal a shift in their trajectories.
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