Coinidol.com Weekly Cryptocurrency Market Analysis: Altcoins Return to Their Bottom Price Due to Selling Pressure

The lowest-performing altcoins have fallen below the moving average lines.

These altcoins are likely to attempt further declines below the moving average. Some are consolidating near the bottom of the chart. Buyers are expected to enter once the altcoins reach the oversold territory.

Lighter

The Lighter (LIT) price has dropped below the moving average lines, reaching a low of $0.13. The price has remained stable above the $0.13 support due to the formation of Doji candlesticks. The long candlestick wicks indicate significant selling pressure at $0.20. The price movement is characterised by Doji candlesticks at the bottom of the chart, reflecting traders' uncertainty about the market's direction. LIT is currently the lowest-performing altcoin.

• The current price: $2.05

• Market capitalisation: $513,894,669.25

• Trade volume: $15,769,410.7

• 7-day loss: 31.60%

Ondo

Ondo's (ONDO) price is falling below the moving average lines, approaching the $0.35 bottom price. Since 15 December, the crypto asset has traded above the $0.35 support level but below the moving average lines. If the bears break the $0.35 support, the altcoin could fall to its previous low of $0.20. ONDO's decline has stalled above $0.35. ONDO ranks second-lowest in the following metrics.

• The current price: $0.4060

• Market capitalisation: $1,282,659,777.83

• Trading volume: $69,699,058.47

• 7-day loss: 17.24%

Midnight

Midnight (NIGHT) price has slipped below the moving average lines, reaching a low of $0.065. Since January 9, the cryptocurrency price has remained above the $0.065 support. If the bears break the current support level of $0.065, the negative momentum will extend to a low of $0.035. The altcoin is likely to decline while in the bearish trend zone. NIGHT ranks third-lowest on our list of the worst coins.

• The current price: $0.06678

• Market capitalisation: $1,109,304,486.36

• Trade volume: $32,672,140.05

• 7-day loss: 154.42%

Mantle

Mantle (MNT) has slipped below its moving average lines. The selling pressure has stalled above the $0.90 support. The crypto asset is trading above the $0.90 support level but below the moving average lines.

However, a break below the $0.90 support level will trigger a fall to its low of $0.55. The altcoin's upward movement appears uncertain because it was repelled by the moving averages.

• The current price: $0.9701

• Market capitalisation: $3,155,711,945.76

• Trade volume: $68,588,836.1

• 7-day loss:14.30%

XDC Network

XDC Network (XDC) is in a negative trend after falling below the moving average lines. The altcoin dropped as low as $0.046. Since December 21, 2024, it has traded above the $0.044 support but below the moving average lines. If XDC loses its current support level of $0.044, it will fall further, reaching a low of $0.026. XDC is the fifth-worst cryptocurrency.

• The current price: $0.04637

• Market capitalisation: $885,015,227.13

• Trade volume: $32,544,360.21

• 7-day loss: 13.57%

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.