Overview of Underperforming Altcoins This Year 🌐
The following altcoins have exhibited a lackluster performance in the cryptocurrency market. They are currently experiencing horizontal trends after exhausting their recent bearish movements. In contrast, other cryptocurrencies have seen advancements, driven by bullish momentum breaking above key moving averages.
Starknet (STRK) 🛑
Starknet has been on a downward trajectory, hitting notable lows recently. After peaking at $2.78 on August 5, the cryptocurrency fell to a low of $0.317. However, bullish activity has prevented further declines, and Starknet is now trading in a range between $0.31 and $0.45. Should buyers maintain the price above the resistance level of $0.45, it could signal a return to an upward trend. Nevertheless, given the current overbought conditions in the market, a significant further decline appears unlikely. Here are some details:
- Current Price: $0.4013
- Market Capitalization: $4,013,503,938
- Trading Volume: $37,634,058
- 7-Day Loss Percentage: 9.10%
Helium (HNT) 📈
Helium previously experienced a downturn, but it has started to recover. The cryptocurrency fell to a low of $2.90 before bouncing back, with a current trading price that exceeded the moving averages and reached as high as $7.00. Buyers are anticipated to drive the price towards its previous high of $11.16. Currently, Helium fluctuation remains below $8, with the upward movement highlighted by doji candlesticks that suggest a slowing price momentum. As a result, Helium is among the poorer performing altcoins. Consider the following metrics:
- Current Price: $7.47
- Market Capitalization: $1,202,764,565
- Trading Volume: $20,783,928
- 7-Day Loss Percentage: 7.10%
Arweave (AR) 📉
Arweave is also reflecting a downturn, having dropped to $16 on August 5. Its valuation has been declining since reaching a high of $50. Yet, the bearish momentum has subsided after hitting the low point at $16, with buying interest halting the downward trend above the $19 mark. Currently, the altcoin is oscillating between the resistance at $28 and the support at $18. If it breaks above the moving averages or surpasses $28, a positive trend may emerge. Here are key details about Arweave:
- Current Price: $19.39
- Market Capitalization: $1,279,899,732
- Trading Volume: $37,798,637
- 7-Day Loss: 2.94%
TRON (TRX) ⚖️
TRON is currently on a decline after reaching a high of $0.168. It has fallen below the 21-day simple moving average (SMA) while remaining above the 50-day SMA. At present, it is trading at $0.148, situated between the two moving averages. If the bears break through the 50-day SMA support, a reduction to a low of $0.124 is likely. Conversely, if buyers can maintain the price above the 21-day SMA, TRON may have the potential to return to its previous high of $0.168. Below are the vital statistics:
- Current Price: $0.1484
- Market Capitalization: $12,867,730,565
- Trading Volume: $230,414,875
- 7-Day Gain/Loss: 2.49%
Monero (XMR) 📊
Monero’s price has maintained a sideways trend since the rally peaked on June 12, where it reached $182. The market has been trading within a range of $145 to $180. While the price has been able to stay above the moving averages, the upward momentum is currently constrained by the $180 resistance barrier. Should the bulls fail to breach this level, Monero will likely continue its sideways trend. Key statistics include:
- Current Price: $170.40
- Market Capitalization: $3,143,376,072
- Trading Volume: $43,865,643
- 7-Day Loss: 0.56%
Hot Take 🔥
With many altcoins struggling to gain traction, the market is showing mixed signals. Monitor the key support and resistance levels of your favorite cryptocurrencies closely. As trends evolve, it’s essential to stay informed about these underperformers and the broader market conditions. Your awareness could provide you critical insights into future movements!
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