The Worst Performing Cryptocurrencies
The worst performing cryptocurrencies are seeing a decline as they struggle to establish an uptrend above their previous highs. In this article, we will discuss some of these altcoins in detail.
WEMIX
The price of WEMIX (WEMIX) has dropped after a recent rise. It reached a high of $3.91 on December 7 but was rejected. After reaching the $4.00 resistance level on December 12, the altcoin experienced a subsequent decline. The uptrend ended as the price broke below the moving average lines. Currently, WEMIX is trading at $2.48.
The decline is expected to continue until the price reaches $1.70, which is the breakout level of the November 6 upswing. WEMIX has the following characteristics:
Price: $2.55
Market capitalization: $2,418,982,483
Trading volume: $36,389,386
7-day loss: 14.23%
Bonk
Bonk (BONK) is falling after reaching the resistance level of $0.00003498. The upswing from December 14 has come to an end, and the altcoin is now trading between the moving average lines. At present, BONK is worth $0.00001418.
If the price falls below the moving average lines, selling pressure will continue, and if the moving averages are not broken, sideways movement will persist. Bonk’s performance can be summarized as follows:
Price: $0.00001415
Market capitalization: $1.42B
Trading volume: $149.13M
7-day loss: 21.42%
Terra Classic
Terra Classic (LUNC) is in an uptrend after recovering from a previous decline. It reached a high of $0.0002797 before falling below the 21-day simple moving average. LUNC is currently valued at $0.0001390.
If the bears break below the 50-day simple moving average, the altcoin will drop to a low of $0.00009500. Terra Classic’s performance can be summarized as follows:
Price: $0.0001443
Market capitalization: $984.02M
Trading volume: $40.54M
7-day loss: 13.25%
Avalanche
Avalanche (AVAX) experienced a recent drop but is now seeing a price rise. It peaked at $48 before falling and has slipped below the 21-day SMA but remains above the 50-day SMA. The current price is $39.45.
If the support of the 50-day SMA holds, the price of AVAX will rebound, and a break above the 21-day SMA will signal the resumption of an uptrend. Here are Avalanche’s performance metrics:
Price: $39.45
Market capitalization: $28,402,189,727
Trading volume: $596,282,133
7-day loss: 10.96%
Fantom
Fantom (FTM) is still in an uptrend with higher highs and higher lows. After hitting resistance at $0.55, it has pulled back above the 21-day SMA. FTM’s current low is $0.45.
FTM ranks as the fifth worst performing cryptocurrency and has the following characteristics:
Price: $0.4675
Market capitalization: $1,484,217,979
Trading volume: $69,632,595
7-day loss: 7.66%
Hot Take: The Struggles of Underperforming Altcoins
The worst performing cryptocurrencies are facing challenges as they fail to establish an uptrend above their previous highs. WEMIX, Bonk, Terra Classic, Avalanche, and Fantom are all experiencing declines or struggling to maintain their momentum.
If you are invested in any of these altcoins, it’s important to monitor their performance closely and consider your investment strategy. The crypto market can be volatile, and it’s crucial to stay informed and make decisions based on thorough analysis.
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