Weekly Cryptocurrency Analysis: Altcoins Drift Sideways While Being Knocked Back From Recent Highs

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.

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