Generative Data Intelligence

Weekly Cryptocurrency Market Analysis: Altcoins That Decline As Bears Maintain Lower Price Levels

Date:

May 07, 2024 at 08:44 // Price

The altcoins listed here are the lowest performing coins that have fallen below the moving average lines. The implication is that while in the bearish trend zone, altcoins will continue to fall in price.

Pendle

The price of Pendle (PENDLE) has fallen below the moving average lines. The current rise has ended as the altcoin hits resistance at $7.53. The altcoin has fallen to a low of $4.17. According to the price tip, PENDLE will fall further to a low of $3.47. The altcoin could receive support if it falls back above the breakout level of $3.66.

Similarly, positive momentum will set in if the support at $3.66 is maintained. The altcoin is the worst performing cryptocurrency. It has the following characteristics: 

Price: $4.99

Market capitalization: $1,076,733,724

Trading volume: $103,421,946

7-day loss percentage: 36.25

PENDLEUSD_(Daily Chart) – April 30.jpg

ORDI

ORDI (ORDI) price has dropped below the moving average lines. The altcoin has lost value since April 11, 2024. ORDI has fallen to a low of $33.30. However, based on price indications, the market will continue to fall before reversing at $27.20. The cryptocurrency market is in a relatively bearish state. ORDI is the second worst performing cryptocurrency. It has the following characteristics:

Price: $38.72

Market capitalization: $699,626,935

Trading volume: $242,428,230

7-day loss percentage: 29.05%

ORDIUSD_(Daily Chart) – April 30.jpg

Stacks

The price of Stacks (STX) has fallen below the moving average lines. The cryptocurrency’s uptrend has been halted. Buyers were unable to sustain their bullish momentum, despite three attempts to reach the $3.60 high. 

At the time of writing, the altcoin has fallen to a low of $2.20. However, based on current prices, STX is expected to fall further to a low of $1.23. Nonetheless, the altcoin is still above the breakout milestone of $2.06. If the bulls sustain the drop above the support level of $2.06, the stacks will resume their uptrend. The altcoin will rise and extend its bullish momentum above the moving average lines. The fourth worst performing cryptocurrency is STX. Here are some key characteristics:

Current price: $2.20

Market capitalization: $3,709,569,103

Trading volume: $260,719,734

7–day loss: 26.05%

STXUSD_(Daily Chart) – April 30.jpg

Beam

Beam (BEAM) prices have continued to fall below the moving average lines. The altcoin has fallen from its high of $0.032 to a low of $0.022. Selling pressure is likely to drop to a low of $0.020. If the bulls can hold the current support level of $0.020, the uptrend will begin. Long candlestick tails point to the bottom of the chart. This indicates significant buying pressure at lower price levels. Beam is the fifth worst performing cryptocurrency. It has the following characteristics:

Price: $0.02471

Market capitalization: $1,423,297,098

Trading volume: $29,375,973

7–day loss: 2.41%

BEAMUSD_(Daily Chart) – April 30.jpg

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.

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