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.
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.