Top 5 Worst-Performing Altcoins in the Crypto Market 📉
Are you a crypto enthusiast keeping a close eye on the altcoin market? It’s essential to stay informed about the performance of different cryptocurrencies, especially those that are not faring well. Here are the top five worst-performing altcoins in the current market:
Gnosis 💸
- Gnosis (GNO) has been trending downwards despite being in a bull market.
- The altcoin faced a significant drop from $444 to $265.
- Currently, GNO is struggling to break through resistance at $380 and move above moving average lines.
- With a 7-day loss percentage of 7.46%, GNO remains one of the worst performers.
Pendle 💰
- Pendle (PENDLE) saw an upswing in a bull market before sliding below moving average lines.
- After hitting $7.00, the altcoin fell to $5.00 and is now close to breaching the support level at $3.81.
- If the support level is broken, selling pressure could increase, affecting PENDLE’s performance.
- With a 7-day loss percentage of 7.49%, PENDLE ranks as the second slowest performer.
Sui 💵
- Sui (SUI) is currently in a bear market following a recent decline from $2.00 to $0.76.
- The altcoin is trading within a range defined by $0.76 support and the 21-day SMA resistance.
- If the support at $0.76 is breached, selling pressure is likely to increase for SUI.
- Despite a 7-day loss percentage of 3.72%, SUI is the third worst performing cryptocurrency.
Ethena 💳
- Ethena (ENA) plummeted to $0.48 before rebounding but remains below the 21-day SMA barrier.
- If the support at $0.48 is broken, the altcoin could face additional selling pressure.
- With a current value of $0.50, ENA ranks as the fourth worst-performing cryptocurrency.
Ronin 💴
- Ronin (RON) entered a bear market after dropping from $4.50 to $2.01.
- The altcoin is currently trading above the $2.01 support level but below the 21-day SMA resistance line.
- A breach of these levels could signal a trend reversal for RON.
- With a 7-day loss percentage of 2.84%, RON is the fifth worst performer in the market.
Hot Take: Monitor Their Performance Closely 🚨
As an investor or trader, it’s crucial to track the performance of altcoins, especially those at the bottom of the charts. Keep a close watch on Gnosis, Pendle, Sui, Ethena, and Ronin to understand their market dynamics and potential for recovery.
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