GMX
The price of GMX (GMX) is falling below its moving average lines. GMX fell from a high of $90 to a low of $41. The altcoin slipped above the moving average lines but was pushed back to the $60 resistance level three times. GMX is currently rising above the 25 level of the daily stochastic. It is the worst performing cryptocurrency.
– Current price: $46.60
– Market capitalization: $434,087,574
– Trading volume: $14,382,041
– 7-day loss: 10.85%
Mantle
The price of Mantle (MNT) dropped significantly and reached a bearish exhaustion. The cryptocurrency is now trading in the oversold zone. MNT is below the moving average lines and has the second lowest performance.
– Current price: $0.4572
– Market capitalization: $2,855,945,540
– Trading volume: $6,206,611
– 7-day loss: 10.32%
Optimism
The price of Optimism (OP) is rising after a recent decline. OP broke above the moving average lines but couldn’t maintain the uptrend. It is now below the Stochastic daily value of 20 and is the third worst performing coin.
– Current price: $1.52
– Market capitalization: $6,557,753,562
– Trading volume: $92,272,537
– 7-day loss: 9.52%
XDC Network
XDC Network (XDC) is in a downtrend after a recent surge. The altcoin is likely to fall further to its previous low. XDC has reached its price equilibrium and is the fourth worst performing coin.
– Current price: $0.06118
– Market capitalization: $2,313,972,338
– Trading volume: $14,089,081
– 7-day loss: 8.53%
Bone ShibaSwap
Bone ShibaSwap (BONE) is falling after reaching a high of $1.71. It is trading below the 21-day simple moving average and is the fifth worst cryptocurrency.
– Current price: $1.50
– Market capitalization: $375,946,302
– Trading volume: $11,682,729
– 7-day loss: 5.20%
Hot Take
Altcoins are facing renewed selling pressure and experiencing false breakouts. The worst performing cryptocurrencies in this analysis are GMX and Mantle, both with double-digit losses in the past week. It’s important to keep an eye on the moving average lines and stochastic levels to gauge the market sentiment. The overall trend seems to be bearish, but there may be opportunities for recovery if altcoins can break above resistance levels.
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