Weekly Cryptocurrency Market Analysis: Altcoins Decline The Most

The worst performing altcoins in the previous week. Altcoins are likely to continue their downtrend.

Notcoin

Notcoin (NOT) is trading sideways but has recovered above the support level of $0.0077. The altcoin has been oscillating between above $0.0077 and below resistance at $0.025 since June 2. 

The emergence of doji candlesticks has caused the price movement to remain unchanged for the past two months. These doji candlesticks show that traders are hesitant to determine the direction of the market. The altcoin is stabilizing above the current support level over the next four days in preparation for the resumption of the uptrend. The worst performing altcoin is NOT. It has the following attributes:

The current price: $0.008383

Market capitalization: $858,188,454

Trading volume: $108,871,163

7-day loss percentage: 27.49%

SATS 

SATS (1000SATS) is experiencing an upward correction as it bounces off its low. During the last decline, SATS fell from a high of $0.0009000 to a low of $0.0001116. The bulls bought the dips and the altcoin rallied to a high of $0.0004000. The rise has ended and the price of the cryptocurrency is falling between the moving average lines. The cryptocurrency is stuck between two moving average lines. This indicates that the cryptocurrency is likely to move within a certain range. 

The altcoin's decline has made it the third worst performing coin.

The current price:  $0.000291

Market capitalization:  $610.23M

Trading volume: $67.02M

7-day loss percentage: 25.90%

Celestia 

The price of Celestia (TIA) has dropped below the moving average lines as the cryptocurrency continues to fall. Based on price activity, the altcoin has fallen to a low of $4.50. 

On the downside, the altcoin is set to fall to a low of $3.50. The altcoin is currently above the $4.00 support, while TIA has slipped into the oversold sector of the market. The altcoin will reverse if it falls below $3.50. Following the current downturn, the price bars have fallen below the moving average lines. The price bars are retesting the current support level of $4.00 with an extended candlestick tail.

The current price: $4.53

Market Capitalization: $4,827,641,203

Trading Volume: $54,913,671

7–day Loss: 23.65%

ORDI

ORDI (ORDI) is bearish after falling below the moving average lines. The altcoin fell from a high of $90 to a low of $20 before recovering. ORDI is trading above the $20 support level but below the moving average lines. The price of the cryptocurrency is fluctuating as it continues to make lower highs and lower lows. The altcoin is hovering slightly around the $26 mark.

If the altcoin falls below the current support level, it will return to its low of $20.

The current price: $27.72

Market Capitalization: $582,130,869

Trading Volume: $75,974,944

7–day Loss: 22.81% 

Injective 

The price of Injective (INJ) has fallen below the moving average lines to $16.74. The downward momentum will continue to the low of $12. Currently, the altcoin is bearish after being rejected at the moving average lines. On August 5, the altcoin hit a low of $13.50 before recovering. The extended candlestick tail pointing to the current support level of $13.50 shows strong buying pressure at lower prices. The altcoin will reverse as it approaches bearish exhaustion.

INJ is the fifth worst performing cryptocurrency.

It has the following characteristics:

The current price: $17.32

Market Capitalization: $1,732,122,007

Trading Volume:  $50,307,984

7–day Loss: 21.16% 

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.