Conflux
Conflux (CFX) had been on a downtrend but saw an upward correction last week. The bullish momentum pushed it to a high of $0.18, breaking through the moving average lines. However, it faced resistance at the $0.18 mark, causing it to reverse course between the moving average lines. If the bears break below the 50-day SMA, the altcoin will face downside risk and continue its decline towards the $0.10 mark. On the other hand, if it breaks above the 21-day SMA, it could resume its uptrend. CFX has some of the worst performance metrics among all cryptocurrencies, with a market capitalization of $796,584,457, trading volume of $32,122,971, and a 7-day loss of 14.52%.
Trust Wallet Token
Trust Wallet Token (TWT) dropped from a high of $1.80, falling between the moving average lines. Currently, it’s below the 21-day SMA but above the 50-day SMA. If the bears break below the 50-day SMA, the altcoin could fall further to $0.90 and $0.78. TWT has a market capitalization of $1,159,956,61, trading volume of $17,590,150, and a 7-day loss of 13.30%.
Chainlink
Chainlink (LINK) had seen a rise, reaching a high of $16.58 before collapsing. Currently, it’s fluctuating between the moving average lines and the $16.58 barrier. If it stays above the moving average lines and breaks through the $16.58 resistance, it could rise to $20. However, if the bears fall below the 21-day SMA, the price could drop to $10. LINK has a market capitalization of $14.125.526.342, trading volume of $584,289,398, and a 7-day loss of 12.51%.
Neo
Neo (NEO) is declining after reaching the historic price level of February 21. The cryptocurrency has dipped below the 21-day SMA while remaining above the 50-day SMA. If it continues to slide towards the 50-day SMA, it may drop to a low of $9.75. NEO has a market capitalization of $1,113,869,738, trading volume of $38,918,546, and a 7-day loss of 11.77%.
Gas
Gas (GAS) saw a high of $29 but is currently falling between the moving average lines. If it retraces above the 50-day SMA, it could resume its sideways trend. GAS has a market capitalization of $534,847,446, trading volume of $36,348,241, and a 7-day loss of 11.58%.
Hot Take
The worst-performing altcoins, including Conflux, Trust Wallet Token, Chainlink, Neo, and Gas, are either declining or trending sideways. Their upward movement is shaky as cryptocurrencies are stuck in a range, and this trend is affecting their overall performance in the market.
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