💔 Overview of Underperforming Altcoins This Year
In the realm of cryptographic currencies, several altcoins have experienced significant challenges and downturns in the past week of September. Despite attempts at recovery, these cryptocurrencies face resistance and hurdles that complicate their upward movement.
🔍 Monero (XMR)
Monero has been navigating a horizontal trajectory following a notable decline on June 13. The cryptocurrency has consistently fluctuated between the support level of $110 and the resistance ceiling of $180. Recently, Monero’s value has dipped, breaking below key moving average lines and reaching a low of $155. If it declines past the $145 mark, this could signal a trend reversal.
A long candlestick tail suggests substantial buying interest at lower price points. Currently, Monero is the cryptocurrency facing the most significant struggles.
- Current Price: $154.91
- Market Cap: $2,857,635,003
- Trading Volume: $54,516,161
- 7-Day Loss: 10.45%
📉 Kaspa (KAS)
Kaspa is displaying an upward trend but is now transitioning into a sideways movement below the resistance pathway of $0.20. The cryptocurrency has been trading slightly above the moving average indicators, though recent price swings have shown stagnancy characterized by doji candlesticks. After breaking below the moving averages, the price has stabilized just above $0.16.
- Current Price: $0.1623
- Market Cap: $4,658,620,484
- Trading Volume: $30,830,168
- 7-Day Loss: 2.07%
📊 Fantom (FTM)
Fantom has shown signs of recovery from earlier lows, managing to surpass moving averages. The price previously ascended to $0.53 but faced a setback. It then dropped to $0.35 before bouncing back, reaching highs of $0.72 while remaining below the resistance level of $0.75.
Currently, FTM trades in a narrow range above moving averages but below the critical resistance mark. If bullish momentum fails to push past $0.75, the cryptocurrency may experience renewed downward pressure.
- Current Price: $0.6803
- Market Cap: $2,159,638,279
- Trading Volume: $137,243,765
- 7-Day Loss: 1.64%
🔻 Mantle (MNT)
Mantle has encountered a downward trend after reaching resistance at $1.51, dropping to a low of $0.55. The altcoin has since consolidated above its current support. While there has been a recent recovery, peaking at $0.66, Mantle has struggled to maintain upward movement since being resisted multiple times since August 5. A resurgence in growth can occur if it breaks through the moving averages.
- Current Price: $0.6447
- Market Cap: $4,009,469,159
- Trading Volume: $53,432,889
- 7-Day Loss: 0.94%
🏗 Aptos (APT)
Aptos has been trapped in a sideways pattern since hitting the resistance threshold of $20. It generally trades above a crucial support level of $5.00 but has remained constrained under the $20 ceiling. Recently, APT demonstrated renewed bullish strength, climbing above the moving averages and reaching $8.17. A complete recovery is plausible with sustained buying that keeps the price above $10, potentially leading the market back to $18.
- Current Price: $8.21
- Market Cap: $9,180,905,854
- Trading Volume: $124,243,282
- 7-Day Loss: 0.46%
🔥 Hot Take
This year’s cryptocurrency landscape has showcased the volatility and challenges faced by various altcoins. As these cryptocurrencies attempt to regain footing, observers should remain vigilant about market movements and patterns. Understanding the performance metrics is essential for grasping the overall market dynamics.
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