THORChain (RUNE)
THORChain (RUNE) has experienced a price drop after previously showing an uptrend. The cryptocurrency’s price had been increasing with higher highs and higher lows, but it recently slipped between the moving average lines. Although it is still above the 50-day line SMA, it is below the 21-day line SMA. The altcoin’s trend depends on the crossing of these moving average lines. If the bulls break the 21-day line SMA, the uptrend will resume, and the price could reach $3.76. However, if the bears break the support level of the 50-day line SMA, the price may fall to $1.37.
ApeCoin (APE)
ApeCoin (APE) is currently in a downtrend and has dropped sharply. The altcoin’s price moves in opposition to the moving average lines, falling every time they are retested. APE is currently trading at $1.09 and reached its previous low of $1.10. The support level has been holding since September 17. APE is considered one of the worst-performing cryptocurrencies.
Rocket Pool (RPL)
Rocket Pool (RPL) has reached a historical low of $20.10 and is in a downtrend with lower highs and lower lows. The altcoin’s price drops every time it retests the moving average lines, and it fell further after reaching the 50-day line SMA on October 1. RPL is currently at an oversold level, and it is unlikely to fall further.
Arbitrum (ARB)
Arbitrum (ARB) is experiencing a decline but has reached bearish exhaustion and aims to resume its upward correction. The price fell below the moving average lines, ending the upward correction, but ARB is still holding above the $0.84 support. It is considered the fourth worst performing cryptocurrency.
Pepe (PEPE)
Pepe (PEPE) is in an upward correction but is currently trapped between the moving average lines. After reaching a high of $0.000001082, the upward correction quickly broke down. However, PEPE managed to hold above the 21-day line SMA. The price fluctuation will be limited between the moving average lines, and a new trend will develop when these lines are broken. PEPE is one of the worst-performing coins this week.
Hot Take: Five Cryptocurrencies with Significant Price Drops
THORChain, ApeCoin, Rocket Pool, Arbitrum, and Pepe are among the cryptocurrencies that have experienced significant price drops recently. These coins have different characteristics and reasons for their decline in value. While some may see a potential for recovery, others may continue to struggle in the market. It’s important for crypto investors to stay updated on these trends and carefully consider their investment decisions.
By
By
By
By