The altcoins listed below are the lowest performing cryptocurrencies that have fallen significantly.
Altcoins have reached the oversold region of the market. This indicates that the downtrend has reached bearish exhaustion. There is a likelihood that buyers will emerge in the oversold region of the market.
Moonbeam
Moonbeam (GLMR)) is in a downtrend after the price fell below the moving averages. In the first downtrend, the altcoin fell to the low of $3.36 and later corrected upwards. The upward correction was completed at the high of $4.50. The altcoin was pushed off at the recent high. The bears broke below the moving averages, signaling the resumption of the downtrend.
Meanwhile, on April 11, the downtrend; a retraced candlestick tested the 61.8% Fibonacci retracement level. The retracement suggests that GLMR will fall to the Fibonacci extension level of 1.618 or $1.98. The altcoin is expected to fall further. GLMR is the cryptocurrency asset with the lowest performance in the past week.
It has the following characteristics.
Current price: $3.20
Market capitalization: $3,196,538,285
Trading volume: $79,444,399
7-day loss: 26.65%.
Waves
Waves (WAVES) is in a downtrend as the bears break below the moving averages. In the previous uptrend, the altcoin reached the high of $63.96 and was pushed back. The cryptocurrency reached an overbought area of the market.
Today, WAVES has dropped to the low of $15.06. The current decline is expected to reach the previous low of $8.48. However, if the current support holds, the upward movement will resume. The altcoin is at the level 27 of the Relative Strength Index for period 14, indicating that the downtrend has reached bearish exhaustion. Further selling pressure is unlikely. It is the cryptocurrency asset with the second worst performance last week.
It has the following characteristics:
Current Price: $15.37
Market capitalization: $1,653,561,748
Trading volume: $375,110,315
7 -day loss: 25.28%.
NEAR Protocol
Near Protocol (NEAR) is in a downward trend. In the previous trend, the altcoin rose to a high of $18. The bulls could not keep the price above the $18 resistance, hence the downward movement.
Before the recent downtrend, the altcoin fluctuated below the above resistance for three weeks. The bears have broken below the trend line and the moving averages, signaling the resumption of the downtrend. The current downtrend will continue to the low of $11.94. Altcoin is at level 37 of the Relative Strength Index for period 14, indicating that altcoin has reached the bearish trend zone. It is also approaching the oversold zone. Near Protocol is the cryptocurrency asset with the third worst performance in the past week.
It has the following characteristics.
Current price: $13.17
Marktkapitalisierung: $13.173.257.067
Trading volume: $1,217,224,012
7-day loss: 22.28%
Arweave
Arweave (AR) is in a downtrend as the price falls below the moving averages. The cryptocurrency has dropped significantly from the high of $41 to the low of $25. The altcoin is approaching the previous low of $23.
Meanwhile, the downtrend from April 11 has a candle body testing the 61.8% Fibonacci retracement level. The retracement suggests that the altcoin will fall to the 1.618 Fibonacci extension level or $23.6. The crypto is below the 20% range of the daily stochastic. This indicates that the market has reached bearish exhaustion. Arweave is the cryptocurrency with the fourth worst performance last week.
It has the following characteristics.
Current price: $25.36
Market capitalization: $1,674,050,426
Trading volume: $43,276,749
7-day loss: 17.65%.
Harmony
Harmony (ONE) has been in a downtrend since January 15. The cryptocurrency has dropped significantly from the high of $0.40 to the low of $0.10. The altcoin is at level 30 of the Relative Strength Index for period 14, indicating that it has reached the oversold area of the market.
Meanwhile, on April 11, the downtrend, a declining candlestick, tested the 78.6% Fibonacci retracement level. The retracement indicates that the altcoin will fall to the 1.272 Fibonacci Extension level, or $0.097. Harmony is the cryptocurrency with the fifth worst performance last week.
It has the following characteristics.
Current price: $0.1009
Market capitalization: $1,370,261,986
Trading volume: $61,757,627
7-day loss: 17.61%
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. Readers should do their own research before investing funds.
Source: https://coinidol.com/weekly-altcoins-try/