The Worst-Performing Cryptocurrencies
The worst-performing cryptocurrencies are those that have fallen below moving average lines or are trending sideways after being rejected at their last high. In this article, we will analyze five altcoins that have lost some of their upside gains.
Klaytn (KLAY)
The price of Klaytn (KLAY) has fallen below the moving average lines after being rejected at a high of $0.26. It dropped to a low of $0.15 but then recovered. However, it was rejected again at $0.20. Currently, the altcoin is consolidating above the $0.17 support. If this support is broken, KLAY will drop to a low of $0.097. On the other hand, if the support holds, it will move upwards in a range between the support and the moving average lines.
Current price: $0.1909
Market capitalization: $1,122,555,054
Trading volume: $12,303,274
7-day loss: 17.034%
Flare (FLR)
Flare (FLR) is currently in a sideways trend after the end of an uptrend on December 9. The altcoin’s price has been stable due to the prevalence of doji candlesticks, which represent traders’ indifference to the market’s direction. FLR is trading at $0.017 and will fall further if it drops below the 21-day SMA and bearish momentum continues.
Current price: $0.01761
Market capitalization: $1,767,996,586
Trading volume: $9,016,534
7-day loss: 1.13%
Stacks (STX)
Stacks (STX) is currently falling below the 21-day SMA after reaching a high of $2.03. The cryptocurrency is trapped between the moving average lines and is currently trading at $1.59. It will continue to decline if the negative trend persists, but it can be halted if the bulls buy on dips and keep the price above the 21-day SMA.
Price: $1.62
Market capitalization: $2,939,782,163
Trading volume: $109,667,263
7-day loss: 0.64%
XDC Network (XDC)
XDC Network (XDC) is trading sideways between $0.046 and $0.057. It has fallen below the moving average lines and is facing rejection at the high of $0.057. The altcoin is currently consolidating above its support and has not broken it since September 26, 2023. XDC is now the fourth worst performing cryptocurrency.
Price: $0.04975
Market capitalization: $1,872,214,818
Trading volume: $23,041,441
7-day loss: 0.53%
Bitget Token (BGB)
Bitget Token (BGB) is also in a sideways trend after the end of an uptrend on December 19. It has tried to reach the $0.66 resistance level but fell below the 21-day SMA instead. BGB is currently trading below the 21-day SMA but above the 50-day SMA. If selling pressure continues, it will drop even lower and make a bottom above the 50-day SMA or $0.57. BGB is the fifth worst performing cryptocurrency.
Current price: $0.6015
Market capitalization: $1,202,341,367
Trading volume: $11,456,760
7-day loss: 0.06%
Hot Take: Analysis of the Worst-Performing Cryptocurrencies
The worst-performing cryptocurrencies analyzed in this article have either fallen below moving average lines or are trending sideways after being rejected at their last high. Despite some altcoins recovering from their lows, they face potential further declines if certain support levels are broken. The market conditions for these cryptocurrencies are currently challenging, with some experiencing significant losses over a seven-day period. It remains to be seen whether these altcoins will be able to regain their upside gains and break out of their current trends.
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