Weekly Cryptocurrency Market Analysis: Altcoins Return From Their Previous Highs To Chart Lows

The worst-performing altcoins are fluctuating as cryptocurrencies experience strong rejection at recent highs.

Altcoins return to the bottom of the chart after falling below moving average lines. The bears are pushing altcoins into negative trend territory.

Chiliz

The price of Chiliz (CHZ) has fallen below the moving average lines to resume its downtrend. The altcoin experienced an upward correction before being rejected at the high of $0.167. The downtrend has continued as buyers were rejected four times at the $0.167 resistance. Buyers have been unable to break through the overhead resistance at $0.167 in the last two months, leading to a decline. The altcoin fell to a low of $0.07 before recovering. 

On the downside, the altcoin could fall to $0.05 before recovering. The worst performing coin is CHZ. It has the following characteristics:

Price: $0.08089

Market capitalization: $719,871,077

Trading volume: $60,977,186

7-day percentage loss: 29.77%

Wormhole

The price of Wormhole (W) has fallen below the moving average lines and to the lower part of the chart. The cryptocurrency fell from a high of $1.66 to a low of $0.33. The altcoin has entered the oversold area of the chart. It is unclear whether the cryptocurrency will continue to fall. At this point, the currency is worth $0.37. W is the second worst performing cryptocurrency. It has the following characteristics:

Price: $0.3714

Market capitalization: $3,703,863,580

Trading volume: $66,271,594 

7-day loss: 27.32%

Akash Network

Akash Network (AKT) is declining while trading in a bull market. The altcoin fell below the moving average lines and reached a bottom above the $2.50 breakout level. The altcoin is recovering as it approaches the $2.50 support level. AKT is now worth $3.10. 

On the upside, the altcoin will resume its positive trend if buyers keep the price above the moving average lines. The cryptocurrency will reach its previous high of $6.00. AKT is the third worst performing cryptocurrency based on these characteristics. 

The current price: $3.11

Market capitalization: $1,209,948,047

Trading volume: $39,445,422

7–day loss: 27.06%

Starknet

The price of Starknet (STRK) has fallen below the moving average lines and is now near the bottom of the chart. The altcoin fell from a high of $2.78 to a low of $0.66. The cryptocurrency is currently trading at the bottom of the chart. The altcoin has slipped into the oversold area of the market. It is unclear whether the cryptocurrency will fall further. It is currently worth $0.73. The fourth worst performing cryptocurrency is this one. Here are a few key components. 

The current price: $0.73

Market capitalization: $7,330,399,613

Trading volume: $87,109,970

7–day loss: 26.67

Injective

The price of Injective (INJ) is currently in a bull market. It is dropping below the moving average lines. While it is in the downtrend zone, the cryptocurrency is facing a further decline. The altcoin fell to a low of $21 and then began a rise above existing support. The bulls have defended their current support since April 13. Selling pressure will pick up again if the bears manage to fall below the $21 support. The altcoin is now valued at $21. 

The cryptocurrency with the fifth-lowest performance is INJ. It has the following characteristics:

Price: $21.06

Market capitalization: $2,103,093,838

Trading volume: $143,857,088

7–day loss: 26.05%

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.