Weekly Cryptocurrency Market Analysis: Altcoins In A Horizontal Trend As They Fail To Overcome Overhead Resistance

The worst-performing altcoins are struggling with overhead resistance this week, and their trend is downward.

While some cryptocurrencies are trending downwards, others have resumed their sideways movement.

FLOKI

The price of FLOKI (FLOKI) is in a bull market and continues to rise. The uptrend has reached resistance at $0.0002990, triggering a horizontal trend. The price range is between $0.0001500 and $0.0003500. After hitting the resistance zone, the cryptocurrency fell below the moving average lines. The upswing will resume when the bulls break through the resistance at $0.0003500. 

In the meantime, the altcoin is slipping and approaching the lower price level of $0.0001500. The trading range will continue as long as the current levels are maintained. FLOKI is the cryptocurrency with the lowest performance. It has the following characteristics:

Price: $0.0002179

Market capitalization: $2.11B

Trading volume: $641.79M

7-day loss percentage: 28.87%

Fetch.ai

Fetch.ai (FET) is dropping below the moving average lines. The altcoin has fallen twice to the low of $1.60 as the bears try to sink the cryptocurrency. If the current support holds, FET will start to move in a range. This means that the price of the altcoin will range between $1.60 and $3.00. FET will fall to a low of $1.10 if support is broken. On the upside, the altcoin will resume its uptrend once it breaks above the $3.00 resistance level. 

FET is the second worst performing cryptocurrency. It has the following characteristics:

Price: $1.67

Market capitalization: $4,400,320,544

Trading volume: $200,429,114

7-day loss percentage: 28.51%

SingularityNET

SingularityNET (AGIX) is trading below the moving average lines after two rejections at the $1.40 high. The altcoin has fallen twice to a low of $0.62. The altcoin is rising as the current support holds. If buyers hold the price above the moving average lines, AGIX will rally to its previous high of $1.40. In the meantime, the price of the altcoin is at $0.70. The altcoin will move in a range of $0.62 to $1.40. 

Based on these characteristics, AGIX is the third worst performing cryptocurrency.

The current price: $0.6861

Market capitalization: $1,372,192,096

Trading volume: $881,147,806

7–day loss: 27.83%

Notcoin

Notcoin (NOT) is dropping above the 21-day SMA. The 21-day SMA support is holding as it trades between the 21-day SMA and the resistance level at $0.025. If the bulls break through the resistance at $0.025, the altcoin will rally to a high of $0.070. If the bears break below the 21-day SMA support, the bullish scenario will be invalidated. NOT prices will fall to $0.007 and $0.005. NOT is currently worth $0.018. This is the fourth worst value of any cryptocurrency. Here are a few key features.

The current price: $0.018

Market capitalization: $1,847,256,295

Trading volume: $1,258,921,513

7–day loss: 27.61%

Arweave

The price of Arweave (AR) has been trending sluggishly below the $48 overhead resistance level. The altcoin has been oscillating between $22.60 and $48 price levels. The price of the cryptocurrency was repelled four times as it dipped below the moving average lines. The sideways trend will stop if the bulls break above the resistance at $48. The altcoin has fallen to a low of $33 at the time of writing. The value of the altcoin currently stands at $8.23. AR is the fifth lowest performing cryptocurrency.

It has the following characteristics:

Price: $33.95

Market capitalization: $2,241,001,930

Trading volume: $105,523,787

7–day loss: 26.81%

Disclaimer. This analysis and forecast are the personal opinions of the author and 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.