Weekly Cryptocurrency Market Analysis: Altcoins Fall As Coins Face Higher Prices

The worst-performing cryptocurrencies have fallen below the moving average lines. This has led to a continued depreciation of cryptocurrencies.

Altcoins have continued to experience price rejection, resulting in a series of lower highs and lower lows.

Movement

The price of Movement (MOVE) has been declining and is in a sideways trend. The cryptocurrency is trading sideways between $0.60 and $1.20. The altcoin has fallen to a low of $0.72 as it approaches key support levels. The presence of doji candlesticks has slowed down the price movement. If the resistance and support levels are broken, the altcoin will start a new trend. MOVE is the worst performing coin by these standards.

The current price: $0.7514

Market capitalization: $1,730,308,820.7

Trading volume:  $212,416,022.02

7–day loss: 12.09% 

Pudgy Penguins

The price of Pudgy Penguins (PENGU) moved in a range between $0.022 and $0.045. The altcoin fell below the moving average lines and reached the bottom of the chart. The price of the cryptocurrency tested the lower price levelagainn.

PENGU is hovering around the current support of $0.024. If the current support is broken, the altcoin will drop to a low of $0.022. PENGU is the second worst performing coin based on these metrics.

The current price: $0.02451

Market capitalization: $1,540,283,690

Trading volume:  $605,610,572.75

7–day loss: 11.42% 

Mantle

The price of Mantle (MNT) has fallen below the moving average lines. The cryptocurrency was previously in a sideways trend. The altcoin has fallen after being rejected twice at its high of $1.40. At the time of writing, the altcoin has fallen to a low of $0.95. Selling pressure has reached bearish fatigue as it approaches the $0.90 support.

According to the price data, MNT will fall to a low of $0.87. Meanwhile, the altcoin is trading above the support of $0.90. This is the third worst performing cryptocurrency.  

The current price: $0.0246

Market capitalization: $1,546,570,673.28

Trading volume: $600,204,048.48

7–day loss: 9.85% 

Brett (Based)

The price of Brett (Based) (BRETT) has dropped below the moving average lines. The crypto asset has fallen to a low of $0.096. The price of the altcoin is nearing the bottom at $0.073. The selling pressure has stalled above the $0.087 support as the altcoin corrects higher. The uptrend is encountering new resistance near the high of $0.10. If the current support holds, BRETT will be forced to trade in a range above $0.080. BRETT is now the fourth worst performing cryptocurrency. 

The current price: $0.09651

Market capitalization: $956,246,602.57

Trading volume: $113,532,916.84

7-day loss: 6.12%

Toncoin 

Toncoin (TON) is in a downward trend. The cryptocurrency fell below the moving average lines and reached a low of $4.77 before recovering. Since April 30, 2024, the altcoin has constantly traded above the $5.00 mark. On January 19, the altcoin fell to a low of $4.77. Today, the altcoin recovered and continued its upward trend. TON is the fifth worst performing cryptocurrency. 

The current price: $5.09

Market capitalization: $12,648,746,502.46

Trading volume:  $455,521,851.1

7–day loss: 4.22 % 

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.