Coinidol.com Weekly Cryptocurrency Market Analysis: Altcoins Recover at the Bottom of the Chart

The cryptocurrency with the weakest performance has continued to decline in the rankings.

Others have fallen and reached their lowest price points. Cryptocurrencies have resumed consolidating near the bottom of the chart, preparing for a potential recovery.

Dash

Dash (DASH) prices are declining in a sideways pattern. The price has fallen below the moving average lines but remains above the $52 support level. If buyers keep the price above the 50-day SMA, DASH will rebound and reach the next resistance, which is either the 50-day SMA or the $79 high.

However, if DASH fails to break through the 21-day SMA, it may fall further to $40. DASH is currently the worst-performing altcoin.

• The current price: $56.57

• Market capitalization: $712,321,208.44

• Trading volume: $191,145,920.4

• 7–day loss: 37.07%

Starknet

The price of Starknet (STRK) has been moving sideways since reaching the bottom of the chart. The cryptocurrency recently corrected upwards but was rejected at its high of $0.28.

Currently, STRK has dropped between the moving average lines. Since November 22, STRK has traded above the 50-day SMA but below the 21-day SMA. If bears break the 50-day SMA support, STRK could fall as low as $0.10. For now, the cryptocurrency remains trapped between the moving average lines. STRK ranks second lowest by the following metrics.

• The current price: $0.1437

• Market capitalization: $652,114,185.5

• Trading volume: $316,163,973.51

• 7–day loss: 36.09% 

Canton

Canton's (CC) price has fallen to the bottom of the chart. The cryptocurrency fell to a low of $0.072 and then consolidated near the bottom of the chart. The current support is holding as the cryptocurrency reaches a high of $0.086.

On the upside, if the cryptocurrency rises, it will reach $0.10 before encountering resistance at its previous high. However, if the bulls break above the $0.10 barrier, the cryptocurrency could surge to $0.139.

Meanwhile, the altcoin continues its strong upward trend. Canon ranks third on our list of the worst coins.

• The current price: $0.08589

• Market capitalization: $3,039,162,674.11

• Trading volume: $474,782,789.38

• 7–day loss: 30.32%

Pump.fun

Pump.fun's (PUMP) price is declining as the cryptocurrency approaches its lowest price level. Today, it has dropped to $0.0024, matching the 29 July low. The price action is characterised by Doji candlesticks at the bottom of the chart. PUMP is expected to reach a low of $0.0022 before reversing. PUMP is the fourth-worst cryptocurrency in our rankings. Here is some of the most important information.

• The current price: $0.002563

• Market capitalization: $907,520,589.86

• Trading volume: $193,461,868.22

• 7–day loss: 24.50%  

NEAR Protocol 

NEAR Protocol (NEAR) is trading below the moving average lines. The cryptocurrency dropped to its previous low on April 7, reaching $1.79 as buyers took advantage of the dip. Since then, bears have not pushed the price below the $1.80 support level.

Today, the cryptocurrency is rising, having reached a low of $1.86. It is currently trading sideways, above the $1.80 support and below the $3.20 resistance level. NEAR is the fifth-worst performing cryptocurrency. NEAR key characteristics of the week: 

• Current price: $1.86 

• Market capitalisation: $2,383,828,469.10 

• Trading volume: $202,458,007.31 

• 7-day loss: 23.13%

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.