In the previous week, altcoins slipped after reaching recent highs.
Cryptocurrencies have risen above moving average lines after failing to break their previous highs. Cryptocurrencies are expected to recover when the decline ends above the moving average lines. The value of cryptocurrencies will fall when the moving average lines are broken. Each of these cryptocurrencies is examined in depth below.
SATS
SATS (1000SATS) has returned to a horizontal trend after reaching a high of $0.0009302. The cryptocurrency is moving sideways below the barrier of $0.0008000. Doji candlesticks mark the price movement and limit the price fluctuations. The price bars are below the horizontal lines of the moving average. This indicates that the altcoin has the potential to fall in value. SATS is worth $0.00006484 at the time of writing. The worst performing cryptocurrency is SATS. Below are some distinguishing characteristics:
Market capitalization: $1.34B
Trading volume: $85.97M
7โday loss: 14.23%
Bonk
Bonk (BONK) is falling after hitting a high of $0.00002500. Today, the market has pulled back above the 21-day simple moving average to a low of $0.00001880. If the current uptrend retraces above the 21-day SMA, it will resume the uptrend. On the other hand, the uptrend will expire if the price falls below the 21-day SMA. The bearish momentum will continue above the 50-day simple moving average or $0.000007464. In the meantime, the price bars are above the moving average lines, suggesting that the downtrend is still ongoing.
Bonk is the second worst performing cryptocurrency based on these criteria:
Market capitalization: $1.87B
Trading volume: $226.34M
7โday loss: 13.57%
Internet Computer
Internet Computer (ICP) is in an upward correction as it recovers from its previous collapse. The altcoin rose to a high of $11.90 before falling back. ICP is currently trading below the $10.50 mark. Over the past week, the cryptocurrency has remained below its recent high. The upswing will start again as soon as the $10.50 level is broken. ICP will rise higher and reach a high of $16.50. At the time of writing, ICP is trading at $9.95.
In terms of performance, ICP has been ranked as the third worst performer. It has the following characteristics:
Market capitalization: $4,868,583,518
Volume traded: $134,962,010
7โday loss: 10.92%
BitTorrent (New)
BitTorrent (New) (BTT) is correcting higher as it recovers from its recent downturn. The cryptocurrency reached a high of $0.00000160 before falling back. On a positive note, the long candlesticks are pointing upwards. These candlesticks indicate strong selling pressure at higher price levels. At the time of writing, BTT is trading at $0.00000112. The uptrend will resume if the recent pullback stays above the 21-day $MA. BTT will continue to rise and reach a high of $0.00000260.
BTT is the fourth worst performing cryptocurrency in terms of performance. It has the following characteristics:
Market capitalization: $1.11B
Trading volume: $37.64M
7โday loss: 9.24%
XDC Network
XDC Network (XDC) price is on the rise, reaching a high of $0.09.
The upward correction turned into a horizontal trend after the uptrend was broken. The currency is now trading between $0.046 and $0.057. The moving average lines are sloping horizontally, indicating a sideways trend. The price bars are below the moving average lines, causing the cryptocurrency to fall. At the time of writing, XDC is currently worth $0.049.
Below are the reasons why XDC is the fifth worst performing cryptocurrency:
Market capitalization: $1,846,964,955
Trading volume: $15,200,232
7โday loss: 3.87%
Hot Take: Altcoins Slip After Reaching Recent Highs
In the previous week, altcoins experienced a decline after reaching their recent highs. Cryptocurrencies have shown an upward movement above moving average lines but failed to break their previous highs. When cryptocurrencies decline and fall below the moving average lines, their value also decreases. Let’s take a closer look at some of the worst performing altcoins in terms of market capitalization, trading volume, and 7-day loss.
Cabel Dioli emerges as a luminary seamlessly blending the roles of crypto analyst, dedicated researcher, and editorial artisan. Within the dynamic expanse of digital currencies, Cabel’s insights resound like finely tuned notes, reaching minds with diverse inquisitiveness. His mastery in unraveling intricate threads of crypto intricacies harmonizes effortlessly with his editorial finesse, transforming complexity into a captivating symphony of comprehension. A guiding light for both seasoned trailblazers and curious newcomers venturing into the cryptoverse, Cabel’s insights forge a compass for insightful decision-making amidst the ever-evolving currents of cryptocurrencies. With the artistry of a wordsmith, they craft narratives that enrich the evolving narrative of the crypto cosmos.
