The Worst-Performing Cryptocurrencies Under Selling Pressure
Altcoins are experiencing renewed selling pressure, causing them to slip below moving average lines and accelerate their decline. Some altcoins are stuck between moving average lines as they attempt to establish a trend.
FTX Token
FTX Token (FTT) is currently in an uptrend as it recovers from a previous decline. However, the altcoin has fallen below the moving average lines and buyers have struggled to keep the price above $5.50. FTT experienced a slump but found strong buying support at $1.44 before recovering.
The altcoin’s positive trend will resume if the price remains above the moving average lines. Currently, FTT is valued at $2.14 and is considered one of the worst-performing altcoins.
Maker
Maker (MKR) is on an upswing as it recovers from a previous decline. However, its price movement has been capped by moving average lines after reaching a high of $2,265. MKR is currently below the 21-day SMA but remains above the 50-day SMA.
If MKR breaks above its previous high of $2,200, it will trend higher. MKR is considered the second worst-performing altcoin.
Mantle
Mantle (MNT) has resumed its uptrend after surpassing $0.60 but has slipped after reaching a high of $0.85. The altcoin has fallen below the moving average lines and is expected to continue falling until it reverses at the 1.272 Fibonacci extension or $0.52.
MNT is currently worth $0.56 and is rated as the third worst-performing altcoin.
KuCoin Token
KuCoin Token (KCS) was in an uptrend but is now in a sideways trend. After recovering from a decline, KCS rallied to $14 before being rejected. The altcoin fell above the moving average lines and is currently characterized by small, indecisive candlesticks.
KCS is now the fourth worst-performing cryptocurrency.
Flow
FLOW (FLOW) has experienced a recovery followed by another dip. The altcoin fell below moving average lines but remained above the support of $0.71. Its upward movement has been slowed by moving average lines, and it is currently retesting its support at around $0.71.
If FLOW loses its current support, it may fall further to $0.37. FLOW is considered the fifth worst-performing cryptocurrency.
Hot Take: The Worst-Performing Altcoins Facing Selling Pressure
The worst-performing cryptocurrencies are facing renewed selling pressure, causing them to slip below moving average lines and continue their decline. FTX Token, Maker, Mantle, KuCoin Token, and Flow are among the worst performers.
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