The Worst Performing Cryptocurrencies in the Market
The cryptocurrency market is currently experiencing a downturn, with several altcoins at the bottom of the chart. This presents an opportunity for buyers as oversold conditions may attract them and lead to an uptrend in these coins.
Astar (ASTR)
Astar (ASTR) reached a high of $0.069 before being pushed back due to oversold market conditions. Currently, its price has fallen to $0.050 and is expected to continue losing value. The altcoin experienced a correction after a price drop on September 4, indicating that it may fall further to the 2.0 Fibonacci extension level or $0.037. However, with ASTR entering the oversold zone, selling pressure is expected to ease.
Current Price: $0.0508
Market Capitalization: $402,068,267
Trading Volume: $5,973,279
7-Day Loss: 14.89%
Stellar (XLM)
Stellar (XLM) has been trending sideways and struggling to stay above the $0.16 level since July 13. Currently, XLM has fallen to $0.11 and might drop further to its previous low of $0.10 if the current support level is breached. The altcoin is in the downtrend zone at level 43 of the Relative Strength Index, indicating the potential for further decline.
Current Price: $0.1184
Market Capitalization: $5,919,122,513
Trading Volume: $52,908,322
7-Day Loss: 9.18%
IOTA (MIOTA)
IOTA (MIOTA) has experienced a significant drop in price but has managed to hold above the $0.14-$0.20 range. Currently trading at $0.149, it is retesting the lower price range and may recover from bearish exhaustion. However, IOTA is still in the oversold zone and its selling pressure needs to ease for a potential uptrend.
Current Price: $0.1504
Market Capitalization: $417,961,665
Trading Volume: $12,681,174
7-Day Loss: 8.19%
Klaytn (KLAY)
Klaytn (KLAY) reached a high of $0.36 before falling to $0.11. It is currently trading below the price level of October 22, 2022, and is in the oversold zone of the market. KLAY’s selling pressure is expected to ease once the market returns to oversold conditions.
Current Price: $0.1165
Market Capitalization: $673,420,424
Trading Volume: $8,475,334
7-Day Loss: 5.5%
Flare (FLR)
Flare (FLR) has dropped to the bottom of the chart and is currently in a horizontal trend. Its price has fallen from $0.05 to $0.011, with little movement indicated by doji candlesticks. FLR is trading below the daily stochastic threshold of 20 and is considered oversold. The market may have reached a point of bearish exhaustion.
Current Price: $0.01109
Market Capitalization: $1,115,038,093
Trading Volume: $3,350,205
7-Day Loss: 5.22%
Hot Take: Altcoins with the Worst Performance
According to a recent report, altcoins such as Pepe, ApeCoin, Arbitrum, Gala, and dYdX had the worst performance in the previous week. It highlights the volatile nature of the cryptocurrency market and the need for careful analysis before investing.
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.