Weekly Cryptocurrency Market Analysis: Altcoins Under Strong Selling Pressure At New Highs

The worst-performing altcoins have fallen below the moving average lines. Cryptocurrency analysis by Coinidol.com.

Several altcoins have continued to fall while in the bearish trend zone. Fartcoin and Virtuals Protocol return to the lowest price level on the chart.

Fartcoin

The price of Fartcoin (FARTCOIN) has fallen below the moving average lines. The rally ended after it reached a high of $2.73. Today, the altcoin fell below the moving average lines and hit a low of $0.91. On the downside, the bearish momentum could stagnate after hitting a low of $0.57. Meanwhile, the altcoin is approaching the oversold sector of the market. 

FARTCOIN is the worst performing coin based on these metrics.

The current price: $0.9085

Market capitalization: $908,477,108.36

Trading volume: $300,686,240.13

7–day loss: 46.18%

Virtuals Protocol

The price of Virtuals Protocol (VIRTUAL) has fallen below the moving average lines, reaching a low of $1.97. It is likely that the cryptocurrency value will fall even further than the low of $0.14. The moving average lines show a bearish crossover with the 21-day SMA below the 50-day SMA. This means that the cryptocurrency will continue to fall. The altcoin is trading marginally as it falls to the lower part of the chart. VIRTUAL is the second worst performing coin by these standards.

The current price: $1.97

Market capitalization: $1,270,684,385.19

Trading volume:  $165,675,908.95

7–day loss: 19.38% 

OFFICIAL TRUMP

OFFICIAL TRUMP (TRUMP) is falling after the recent price rise. The cryptocurrency rose to a high of $74.87 before falling drastically to a low of $24.10. The altcoin has found support at $25 and is moving upwards. The uptrend will start when the price breaks above the resistance at $45. TRUMP, on the other hand, will be forced to trade in a range below the $45 resistance level where it faces rejection of its previous high. This is the third worst performing cryptocurrency. Here are some key components.

The current price: $29.47

Market capitalization: $5,893,609,608.74

Trading volume: $3,248,165,397.08

7–day loss: 18.00% 

Uniswap

The price of Uniswap (UNI) falls below the moving average lines. The cryptocurrency has fallen to a low of $11.14 and could fall further to the bottom of the chart or a low of $3.37. The altcoin has crashed and is hovering above the $10 breakout level. However, if the altcoin remains above the $10 breakout level, it will resume its positive trend. UNI is now the fourth worst performing coin. It has the following characteristics:

The current price: $11.13

Market capitalization: $6,712,143,617.98

Trading volume: $219,085,148.5

7-day loss: 14.86%

Ethena

Ethena (ENA) is in a downtrend after failing twice at the $1.30 overhead resistance. The cryptocurrency has fallen to a low of $0.70 at the time of this writing. Based on current prices, the altcoin is expected to fall further to a low of $0.40. The cryptocurrency value has broken through the current support level of $0.72 and continues to fall. ENA is the fifth worst performing coin. It has the following characteristics:

The current price: $0.6827

Market capitalization: $2,068,141,209.54

Trading volume:  $236,254,904.09

7–day loss: 19.38% 

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.