The worst-performing cryptocurrencies are experiencing comparable selling pressure at recent highs, causing altcoins to fall. Some altcoins have retreated and found support above the 21-day SMA.
This will help to recover and resume bullish patterns. For others, the chances of recovery are slim as the asset has fallen below the moving average lines. Some of these cryptocurrencies are discussed here.
Stellar
Stellar (XLM) is bearish after reaching a high of $0.65. The altcoin had been recovering from a previous downturn before the recent rejection. XLM has pulled back above the moving averages.
On the upside, the current uptrend will resume if the altcoin retraces and stays above the 21-day SMA. On the downside, XLM will fall further if the bears break below the 21-day moving average. The altcoin will fall above the 50-day SMA or the low of $0.26.
XLM is the worst-performing coin, according to these metrics.
The current price: $0.4113
Market Capitalization: 12,403,368,135.29
Trading Volume: $1,026,825,922.87
7–day Loss: 14.24%
Raydium
Raydium (RAY) is falling below the moving average lines but was stopped above the 50-day SMA. In other words, the cryptocurrency is trapped between the moving average lines. If the 50-day support holds, the altcoin will be forced to trade in a narrow range.
On the downside, selling pressure will pick up once the bears drop below the 50-day SMA. The altcoin will fall to the bottom of the chart or the low of $3.00. RAY has the following characteristics.
The current price is $4.11.
Market capitalization: 1,198,558,133.26
Trading volume: $147,105,104.87
7-day loss: 7.16%
Core
Core (CORE) prices have fallen to a high of $2.05 after the recent surge. The altcoin is falling near the moving average lines.
On the downside, selling pressure will continue if the price falls below the 21-day SMA. CORE will fall to levels above the 50-day SMA. Meanwhile, the altcoin is hanging above its moving averages. This is the third worst performing cryptocurrency. Here are a few critical components.
The current price: $1.23
Market Capitalization: $1,137,266,531.15
Trading Volume: $125,049,873.88
7–day loss: 5.25%
Algorand
Algorand (ALGO) has recovered from its slump and reached a high of $0.61. The positive momentum could not be maintained above the current high, which caused the decline. The crypto price is fluctuating below the resistance zone. If buyers fail to keep the altcoin price above its current high, it will fall. The cryptocurrency will fall above its moving averages.
ALGO is now the fourth worst performing cryptocurrency. It has the following characteristics:
The current price: $0.4206
Market capitalization: $3,500,440,746.71
Trading volume: $911,160,310.01
7-day loss: 1.70%
Ethereum Name Service
Ethereum Name Service (ENS) recovered from its slide and reached a high of $44. The uptrend has paused at the recent high, with the altcoin fluctuating below it. There are long candlesticks indicating the recent high. These candlesticks indicate strong selling pressure at the recent high. Further upward movement of the coin is unlikely. On the downside, the altcoin will fall above the moving average lines if it is rejected at its recent high. ENS is the fifth worst performing cryptocurrency.
The current price: $36.05
Market Capitalization: $1,237,681,669.93
Trading Volume: $677,720,471.87
7–day Loss: 1.21%
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.
