Weekly Cryptocurrency Market Analysis: Altcoins Lurch Into Oversold Territory As A Buying Opportunity Emerges

The worst-performing altcoins are moving lower as cryptocurrencies fall below moving average lines.

Some altcoins, such as Ethena, have fallen drastically to the bottom of the charts. Others are in the process of falling.

Gnosis

Gnosis (GNO) is in a bull market but trending downwards. In the last price action, the altcoin rose to $444 on March 11. Today, the drop has fallen to a low of $265. It is currently moving sideways between $265 and $380. Buyers are trying to push the altcoin above the moving average lines and resistance at $380. The altcoin’s uptrend has failed as it has fallen below the moving average lines. The altcoin will resume its uptrend once it breaks through the resistance at $380. 

GNO is the worst performing altcoin. It has the following characteristics: 

Price: $287.36

Market capitalization: $862,081,540

Trading volume: $8,990,717

7-day loss percentage: 7.46

Pendle

Pendle (PENDLE) is in a bull market with an upswing. After reaching the overhead barrier at $7.00, the cryptocurrency has dropped and is moving sideways. The cryptocurrency value has slipped below the moving average lines after three rejections at the upper barrier. The altcoin has fallen to a low of $5.00. 

The decline is approaching the existing support level of $3.81. Selling pressure will increase if the support level of $3.82 is broken. The altcoin is expected to move in a range if the current support level of $3.82 is maintained. 

PENDLE is the cryptocurrency with the second slowest performance. It has the following characteristics:

Price: $5.00

Market capitalization: $1,291,240,477

Trading volume: $44,020,389

7-day loss percentage: 7.49%

Sui

The price of Sui (SUI) is in a bear market after a recent decline. After retesting the overhead resistance of $2.00, the cryptocurrency was rejected twice. Today, the altcoin has fallen considerably. SUI fell to a low of $0.76 before recovering. The cryptocurrency has formed a range between the support of $0.76 and the resistance of the 21-day SMA. Once the current support level of $0.76 is breached, selling pressure will pick up again. 

According to these parameters, SUI is the third worst performing cryptocurrency.

Current price: $0.8049

Market capitalization: $8,048,878,052

Trading Volume: $88,939,353

7–day loss: 3.72%

Ethena

The price of Ethena (ENA) has fallen to the bottom of the chart. The altcoin fell sharply to a low of $0.48 before recovering. The cryptocurrency is trading between $0.48 and below the barrier of the 21-day SMA. If the current support level of $0.48 is breached, selling pressure will begin. The altcoin is currently worth $0.50. This is the fourth worst performing cryptocurrency. Here are some critical components. 

The current price: $0.5033

Market capitalization: $7,584,779,473

Trading Volume: $56,816,480

7–day loss: 2.94%

Ronin

The price of Ronin (RON) has returned to the bear market after its recent decline. In the previous price action, the cryptocurrency rose to a high of $4.50 before falling. Today, RON has fallen to a low of $2.01 on June 26. Over the past five days, the $2.01 support has held as the altcoin has fluctuated. RON is trading above the $2.01 support level but below the 21-day SMA resistance line. If these levels are breached, the market will resume its trend. The fifth worst performing cryptocurrency is RON. 

It has the following characteristics:

Price: $2.07

Market capitalization: $2,067,955,564

Trading Volume: $8,095,325

7–day loss: 2.84%

Disclaimer. This analysis and forecast are the personal opinions of the author. They 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.