The cryptocurrencies listed below have underperformed as their prices have either stayed the same or fallen below moving average lines.
At their recent highs, the cryptocurrencies are rejected. A few different cryptocurrencies are discussed.
Starknet
Starknet (STRK) is a new altcoin that is now in decline. The altcoin fell from its high of $3.15 to a low of $1.68. Bulls bought on dips, but the upward correction was halted at $1.95. At the time of writing, the crypto is valued at $1.82. Selling pressure is expected to turn further negative. Due to these factors, STRK is the worst performing cryptocurrency among cryptocurrencies.
Current price: $1.85
Market cap: $18.441.677.389
Trading volume: $711,301,799
7–day loss: 21.34%
Mina
Mina (MINA) is recovering from a decline. Since December 26, 2023, higher movements have been hindered by resistance at $1.50. The altcoin is falling after retreating three times at its recent peak. The price of the cryptocurrency has slipped between the moving average lines, indicating a potential rangebound trend. MINA is trading at $1.29 at the time of writing. The altcoin will fall further if the bears break below the 50-day SMA. The second worst performing altcoin is MINA. Here are some key features:
Current price: $1.29
Market capitalization: $1,456,496,778
Trading volume: $51,077,806
7–day loss: 15.23%
Helium
Helium (HNT) is experiencing a rally. The bullish momentum has reached bullish exhaustion since December 19, 2023 when it peaked at $10.00. The price of the cryptocurrency has been pushed to oscillate sideways between $5.50 and $10.00. The altcoin will perform if the current resistance and support levels are broken. HNT is now worth $9.11. Doji candlesticks have dominated the price action. HNT’s performance is the third worst. It has the following characteristics:
Price: $9.09
Market capitalization: $2,027,552,946
Trading volume: $19,951,120
7–day loss: 14.84%
Dymension
Dymension (DYM) is drifting sideways in a vertical uptrend. The vertical uptrend was halted at a high of $8.88. Since February 6, the altcoin has been forced to trade sideways below the barrier at $9.00. The presence of doji candlesticks has caused the price action to remain stationary. The cryptocurrency is now worth $7.33. DYM is now the fourth worst performing coin. It has the following characteristics:
Price: $7.07
Market capitalization: $7,066,377,009
Trading volume: $83,419,942
7–day loss: 14.01%
Arbitrum
Arbitrum (ARB) is currently in an uptrend and has fully recovered from its downtrend. The current upswing ended after a high of $2.40. Since January 11, 2024, the altcoin has been in a sideways trend below the $2.20 resistance level. The cryptocurrency has been trading at prices between $1.60 and $2.20. ARB is falling in price and approaching the bottom. The downtrend will continue if the price falls below the $1.60 support. ARB is the fifthworst performing cryptocurrency.
The current price: $1.77
Market capitalization: $18.237.627.028
Trading volume: $438,902,187
7–day loss: 13.69
Disclaimer. This analysis and forecast are the personal opinions of the author and 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-altcoins-drift-sideways/