Weekly Cryptocurrency Market Analysis: Altcoins Continue To Fall While Cryptos Move Into A Bearish Zone

The altcoins listed here are the lowest performing coins that have fallen below the moving average lines.

The implication is that while in the bearish trend zone, altcoins will continue to fall in price. Analysis of the worst performing altcoins of the previous week by Coinidol.com.

Wormhole

The price of Wormhole (W) is consolidating above the $0.64 support after the recent decline. In the previous price activity, the altcoin was in a vertical uptrend when it reached the high of $1.94. The crypto asset is declining as it reaches an overbought area of the market. Price action has been stationary due to the dominance of doji candlesticks. Wormhole is worth $0.60 at the time of writing. The altcoin is the worst performing cryptocurrency. 

It has the following characteristics: 

Price: $0.5999

Market capitalization: $1,079,850,570

Trading volume: $98,095,508

7-day loss: 16.85%

Core

The price of Core (CORE) has fallen below the moving average lines. The cryptocurrency was trading in a bull market before the recent decline. CORE recovered to a high of $4.18 but was sold off. The altcoin has fallen below the moving average lines. Today, CORE is worth $1.58 at the time of writing. On the downside, the altcoin is approaching the previous low of $1.20. The uptrend will resume if the previous support at $1.20 holds. Otherwise, it will fall further to another low of $0.60. 

CORE is the second worst performing cryptocurrency. It has the following characteristics:

Price: $1.61

Market capitalization: $3,374,768,431

Trading volume: $69,201,635

7-day loss: 13.86%

Helium

Helium (HNT) is in a bull market but has fallen below its moving average lines. In the last uptrend, the altcoin rose to a high of $11 before experiencing resistance. HNT was forced to move sideways below the recent high and before its decline. The altcoin fell to a low of $3.50 as bulls bought the dips. Helium made an upward correction above the moving average lines but was further resisted at the high of $6.00. 

HNT fell below the moving average lines after the recent rebound. The uptrend will resume if buyers keep the price above the moving averages and overcome resistance at $6.00. Because of these characteristics, HNT is the third worst performing coin.

Current price: $4.71

Market capitalization: $1,050,809,735

Trading volume: $13,169,128

7–day loss: 11.59%

Lido DAO

The price of Lido DAO (LDO) is recovering from the previous downtrend but has fallen further below the moving average lines. On April 13, the altcoin fell to a low of $1.60 as bulls bought the dips. Since April 14, the decline has stalled above the $1.85 support. Selling pressure will pick up again if the bears break the current support at $1.85. LDO will retest the previous low at $1.60. The fourth worst performing cryptocurrency is LDO. 

Here are some key characteristics:

Current price: $1.77

Market capitalization: $1,770,454,664

Trading volume: $72,760,609

7–day loss: 8.16%

Optimism

The price of Optimism (OP) is trending upwards and is trading in a bull market. The price of OP has seen a series of higher highs and higher lows. The altcoin is bearish after reaching resistance at $4.86. On April 13, OP fell to a low of $1.81 as bulls bought the dips. The altcoin rallied above the moving average lines but was stopped by the 50-day SMA. At the time of writing, the cryptocurrency is trading at $2.54. The altcoin’s uptrend will continue if buyers keep the price above the moving average lines and resistance at $3.00. 

OP is the fifth worst performing cryptocurrency. It has the following characteristics:

Price: $2.55

Market capitalization: $10.942.306.049

Trading volume: $193,344,217

7–day loss: 8.80%

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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• Source: https://coinidol.com/weekly-cryptos-move-bearish/