Weekly Cryptocurrency Market Analysis: Altcoins Fall In A Range To The Bottom Of The Chart

The worst performing altcoins are gradually falling back to the bottom of the chart.

The fact that cryptocurrencies have fallen below the moving average lines means that they will continue to fall.

Onyxcoin

According to the price analysis by Coinidol.com, Onyxcoin (XCN) is falling below the moving average lines after settling between them. The cryptocurrency is above the 50-day SMA but below the 21-day SMA. Selling pressure will pick up again once the 50-day SMA is breached. XCN will continue to fall and reach a low of $0.010. If the cryptocurrency breaks above the 21-day SMA, it will gain value. The altcoin is now trapped between the moving average lines.

XCN is the worst performing coin according to these metrics.

The current price: $0.02285

Market Capitalization: $744,867,953.11

Trading Volume:  $161,903,391.66

7–day Loss: 20.92% 

Bitget Token

Bitget Token (BGB) is in a downtrend after hitting the $8.50 mark on December 27, 2024.

The price of BGB started a sideways trend after falling above the moving average lines. The bulls were beaten back when they retested the resistance zone on January 26. As a result of the second rejection, the altcoin fell below the moving average lines and reached a low of $4.79 on February 3.

On February 3, the bulls traded below the moving average lines after buying the dips. However, the moving average lines are rejecting the upside correction. Selling pressure will return if the bears break the current support. BGB will then fall further to $3.30. Otherwise, the sideways movement will continue. By these standards, BGB is the second worst performing coin.

The current price: $5.12

Market Capitalization: $6,151,368,897.64

Trading Volume: $196,074,223.92

7–day Loss: 18.08%

DeXe

The price of DeXe (DEXE) has fallen below the moving average lines after an upward correction. The crypto price had previously experienced a series of higher highs and declines.

However, the altcoin will continue to fall to the bottom of the chart if it falls below the moving average lines. If the selling pressure is halted above the previous low of $14, the upward correction will begin anew. DEXE is the third worst performing of all cryptocurrencies. These are some of the key features of the price last week:

The current price: $17.43

Market Capitalization: $1,459,438,864.11

Trading Volume: $6,755,458.88

7–day Loss: 13.75% 

Ondo

The price of Ondo (ONDO) is currently in a sideways trend after the end of the uptrend on December 16, 2024. ONDO started a rangebound move after falling below the moving average lines. The altcoin has been trading in a range of $1,100 to $1,600 since January 9. 

However, if the current support is broken, the altcoin will return to its previous level of $0.92. On the upside, the altcoin will rise again if it breaks above the moving average lines. The cryptocurrency with the fourth worst performance is ONDO.

The current price: $1.26

Market capitalization: $3,997,713,010

Trading volume: $220,013,040.15

7-day loss: 5.46%

Cronos

The price of Cronos (CRO) is currently near the bottom of the chart after falling below the moving average lines. The crypto fell from its high of $0.23 to its low of $0.089. 

Now, the decline will continue until it reaches its lowest price of $0.070. At the lower end of the chart, the cryptocurrency is starting to move within a certain range. The strong buying pressure is indicated by the extended candle tail at the bottom. The cryptocurrency with the fifth worst performance is CRO.

The current price: is $0.08747

Market Capitalization: $2,323,336,938.52

Trading Volume: $17,430,162.26

7–day Loss: 3.05% 

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 Coin Idol. Readers should do their research before investing in funds.