Altcoins Slump While Cryptos Fail To Rebound

The worst-performing cryptocurrencies have continued to plummet as they face rejection at every rally.

Other underperforming altcoins are forced to trade sideways as they approach bearish exhaustion.

Pendle

Pendle (PENDLE) is falling in a sideways pattern. Since April 2024, PENDLE has been trending sideways below the $7.00 level. Every time the price of the cryptocurrency crosses above $7.00, it falls above the moving average lines. The sideways movement has reached a low of $4.53. The selling pressure has reached bearish fatigue above $4.50 and the price could resume its uptrend.

It is the underperforming coin, characterised by the following features:

The current price: $4.54

Market capitalization: $767,619,829.5

Trading volume: $67,781,168.95

7–day loss: 22.33% 

Aerodrome Finance

The price of Aerodrome Finance (AERO) is falling while maintaining its sideways pattern. The altcoin is trading above the $0.40 support and below the $2.40 resistance.

However, the sideways trend has narrowed to between $0.40 and $1.60. The decline has stalled above $1.05 as the altcoin has resumed its uptrend. If the 50-day SMA support holds, the altcoin will trade in a range between the 50-day SMA and the $1.60 level. The cryptocurrency performs the second worst on the following metrics:

The current price: $1.11

Market capitalization: $992,567,572.83

Trading volume: $52,873,653.64

7–day loss: 18.06% 

Lido DAO

Lido DAO (LDO) has fallen below the moving average lines, hitting a low of $1.12. As long as the cryptocurrency is in the downtrend zone, it will likely continue to fall. LDO will fall to a low of $0.90 if it deviates from the moving averages. The altcoin’s positive trend will continue if buyers push the price above the 50-day SMA barrier. LDO is the third worst performing cryptocurrency on our list.

The current price: $1.18

Market capitalization: $1,058,742,262.2 

Trading volume: $88,527,462.45

7–day loss: 17.22%

Fartcoin

The price of Fartcoin (FARTCOIN) has fallen below the moving average lines and hit a low of $0.7488. The altcoin is expected to fall further and reach a low of $0.6233.

However, the sideways movement will start if the altcoin stays above the $0.60 barrier. Previously, the altcoin traded in a narrow range between the 21-day SMA support and below the $1.60 resistance level. FARTHCOIN is the fourth worst performing cryptocurrency in our ranking. Here are some of the key takeaways.

The current price: $0.7520

Market capitalization: $750,796,649.08

Trading volume: $167,851,119.33

7–day loss: 16.90%  

Ethereum Name Service

The price of Ethereum Name Service (ENS) has slipped between the moving averages. The altcoin is trading above the 21-day SMA support but below the 50-day SMA. Once the range is broken, the altcoin will develop a trend.

However, if the bears break above the 21-day SMA support, the altcoin will drop to a low of $16.59. If the altcoin breaks above the 50-day SMA barrier, it will resume its uptrend. ENS, the fifth worst performing cryptocurrency, has the following characteristics:

The current price: $22.51

Market capitalization: $828,505,905.14

Trading volume: $70,133,936.2

7–day loss: 14.74

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.