The Worst Performing Altcoins
You are about to discover the lowest performing altcoins that have fallen below the moving average lines. This means that these altcoins are currently in a bearish trend zone and may continue to decrease in value. Let’s delve into the analysis of the worst performing altcoins from the previous week.
Wormhole
The price of Wormhole (W) is currently consolidating above the $0.64 support level after a recent decline. This altcoin was in a vertical uptrend, reaching a high of $1.94 before experiencing a drop. It is now entering an overbought region, causing a decline. Wormhole is currently valued at $0.60 and stands as the worst performing cryptocurrency. Here are some key characteristics:
- Price: $0.5999
- Market capitalization: $1,079,850,570
- Trading volume: $98,095,508
- 7-day loss: 16.85%
Core
Core (CORE) has fallen below the moving average lines after trading in a bull market. With a recovery to $4.18 followed by a decrease, CORE’s current value is $1.58. If it doesn’t hold at the previous support of $1.20, it may fall to a new low of $0.60. CORE is the second worst performing altcoin with the following characteristics:
- Price: $1.61
- Market capitalization: $3,374,768,431
- Trading volume: $69,201,635
- 7-day loss: 13.86%
Helium
Helium (HNT) has been in a bull market but is currently below its moving average lines. After reaching $11, it experienced resistance and dropped to $3.50. Despite an upward correction, it’s facing resistance at $6.00. HNT’s price is currently at $4.71, making it the third worst performing coin with the following characteristics:
- Current price: $4.71
- Market capitalization: $1,050,809,735
- Trading volume: $13,169,128
- 7-day loss: 11.59%
Lido DAO
Lido DAO (LDO) is recovering from a downtrend but is still below moving average lines. With a recent low of $1.60 and current value of $1.77, LDO may retest the low if support at $1.85 is breached. Here are some key characteristics of LDO, the fourth worst performing altcoin:
- Current price: $1.77
- Market capitalization: $1,770,454,664
- Trading volume: $72,760,609
- 7-day loss: 8.16%
Optimism
Optimism (OP) is in an upward trend and trading in a bull market. After reaching $4.86 and dropping to $1.81, OP is currently at $2.54. The altcoin’s uptrend will continue if it remains above the moving average lines and resistance at $3.00. OP is the fifth worst performing altcoin with the following characteristics:
- Price: $2.55
- Market capitalization: $10.942.306.049
- Trading volume: $193,344,217
- 7-day loss: 8.80%
Hot Take: The Altcoin Market Analysis
As you explore the world of altcoins, remember that not all coins will perform well in every market condition. Understanding the trends and behaviors of different cryptocurrencies can help you make informed investment decisions. Keep an eye on market movements, analyze historical data, and stay updated with the latest news to navigate the altcoin market successfully. Happy trading!
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