Five Cryptocurrencies Showing the Biggest Price Fall of the Week
This week, several altcoins have experienced a significant price decline. Here are the five worst performing cryptocurrencies:
Mina
The price of Mina (MINA) has dropped after a recent surge. It reached a high of $0.97 before falling to its current level of $0.57. If MINA can rise above the breakout level of $0.50, it may resume its uptrend and potentially surpass its previous high. However, if the price falls below $0.50, the downtrend will continue.
Current price: $0.5764
Market capitalization: $628,352,221
Trading volume: $48,483,330
7-day loss: 16.40%
Maker
Maker (MKR) is currently trading sideways after reaching a high of $1,600 and falling below the moving average lines. It is now back to its previous low of $1,320. If MKR can break through the resistance at $1,600, it may resume its uptrend. However, if it falls below the support level of $1,260, the market will continue to decline.
Current price: $1,303.80
Market capitalization: $1,310,786,578
Trading volume: $45,438,284
7-day loss: 7.43%
Stacks
Stacks (STX) has seen a decline after a recent surge. The price fell from a high of $0.75 to its current level of $0.61. If STX stays above the moving average lines or the support at $0.61, the uptrend may resume. However, if the price falls below the moving average lines, the downtrend will continue.
Current price: $0.6119
Market capitalization: $1,113,839,969
Trading volume: $44,197,524
7-day loss: 7.05%
Bitcoin SV
Bitcoin SV (BSV) is currently in a sideways trend after being rejected at $55. It fell below the moving average lines and was rejected again at $51. If BSV breaks below the moving average lines, it may fall below $35.
Current price: $47.53
Market capitalization: $997,832,196
Trading volume: $52,643,273
7-day loss: 4.72%
OKB
OKB (OKB) is trading sideways between the moving average lines. It is currently facing resistance at $46 and selling pressure is evident. If OKB falls below the moving average lines, the selling pressure will continue.
Current price: $44.92
Market capitalization: $13,469,884,295
Trading volume: $2,680,140
7-day loss: 1.54%
Hot Take: Altcoins Struggle as Downtrend Continues
This week has been challenging for altcoins as many of them have experienced significant price declines. Mina, Maker, Stacks, Bitcoin SV, and OKB are among the worst performers. While some of these cryptocurrencies have shown signs of potential recovery if key levels are broken or maintained, others are still stuck in a downtrend.
It’s important for crypto investors to closely monitor these altcoins and consider the factors that contribute to their poor performance. Market conditions, technical indicators, and overall sentiment can all play a role in determining the future direction of these cryptocurrencies. As always, it’s crucial to conduct thorough research and make informed decisions when investing in the volatile world of cryptocurrencies.
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