The worst-performing tokens continue to decline despite Bitcoin’s incredible bull run.
PUMP and PI have been hit the hardest this week. Other cryptocurrencies are declining but moving sideways below their respective overhead resistance levels.
Pump.fun
The price of Pump.fun (PUMP) has fallen considerably, reaching a low of $0.003813. The cryptocurrency previously peaked at $0.6902 before being pushed back. PUMP is expected to fall to the 4.236 Fibonacci extension level or $0.004314.
However, the altcoin fell and surpassed the expected price level, reaching a low of $0.003813. The bulls bought the dips and rose above the 21-day SMA. The altcoin is currently trading above the 21-day SMA support but below the 50-day SMA resistance. Once the price breaks above the 50-day SMA, the uptrend will resume. It is the lowest performing coin and has the following characteristics:
The current price $0.004366
Market capitalization: $1,544,776,911.75
Trading volume: $877,693,335.77
7–day loss: 29.15%
Pi
Pi (PI) is in a downtrend and has fallen below its low of $0.61. The altcoin previously rose to a high of $2.99 before plunging to the bottom of the chart. The extended candlestick wicks indicate significant selling pressure at higher price levels. Now PI has reached a low of $0.44 and could fall further.
The current price: $0.4443
Market capitalization: $3,427,251,446.15
Trading volume: $56,618,373.48
7–day loss: 5.03%
Hyperliquid
Hyperliquid (HYPE) is in an uptrend and has risen to a high of $49.25. The altcoin is in a modest pullback towards the moving average lines. The altcoin’s uptrend will continue if it retraces and stays above the moving average lines. However, HYPE will drop to a low of $37 if the bears break the moving averages. HYPE is the third worst performing cryptocurrency on this list.
The current price: $44.60
Market capitalization: $14,895,649,563.6
Trading volume: $393,676,171.21
7–day loss: 4.48%
Quant
The price of Quant (QNT) is trading above the moving average lines and is in a sideways trend. Since June 11, the price’s upward trend has been held back by resistance at $120. The price of the cryptocurrency has been repelled three times as the altcoin begins a downtrend.
If the bears break through the moving average lines, the altcoin will fall back to its previous low of 88 dollars. On the other hand, the upward movement will resume if the altcoin holds above the moving average lines. QNT is the fourth worst performing cryptocurrency in the ranking. Below are some of its key characteristics:
Current price: $110.19
Market capitalization: $1.330.386.879,09
Trading volume: $26,205,844.45
7–day loss: 4.37%
Monero
The price of Monero (XMR) is declining in a sideways pattern. The altcoin had previously risen to a high of $420 before being rejected. The altcoin has pulled back above the moving average lines but remains below the $360 resistance level. Selling pressure will return if the price falls below the moving average lines. If the current support is broken, XMR will fall to $220.
XMR, the fifth worst performing cryptocurrency, has the following characteristics:
The current price $325.23
Market capitalization: $5,999,571,039.24
Trading volume: $87,534,218.32
7–day loss: 3.04%
Disclaimer. This analysis and forecast are the personal opinions of the author. They are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.
Source: https://coinidol.com/weekly-overhead-barrier/