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The worst-performing cryptocurrencies have come under renewed selling pressure after hitting recent highs.
As a result, altcoins have slipped below moving average lines, accelerating their decline. Others have been stranded between the moving average lines as they attempt to trend.
FTX Token
FTX Token ($FTT) is in an uptrend as it recovers from its previous decline. Currently, the altcoin has fallen below the moving average lines. Buyers have not been able to keep the price above the $5.50 mark. The altcoin's slump ended after it fell to a low of $1.44 and then recovered.
The extended candlestick tail points to strong buying at the $1.44 support level. On the upside, the altcoin will resume its positive trend if buyers keep the price above the moving average lines. $FTT is now worth $2.14.
According to these characteristics, $FTT is the worst altcoin among cryptocurrencies.
The current price: $2.19
Market capitalization: $763,106,441
Trading volume: $196,155,068
7–day loss: 15.88%
Maker
The price of Maker (MKR) is on an upswing as it recovers from the previous decline. The upswing has ended after reaching a high of $2,265.
On January 11, 2024, the altcoin was rejected as it rallied to resistance at $2,200. MKR has now fallen below the 21-day SMA but remains above the 50-day SMA. The price movement is expected to be capped by the moving average lines. In other words, the altcoin will develop a trend after the moving average lines are broken. For example, if the altcoin rallies, it will rise above the 21-day SMA with the upside momentum extending to a high of $2,200.
MKR will trend higher if it breaks above the previous high of $2,200. The second worst performing altcoin is MKR. Below are some notable characteristics:
Current price: $1,959.94
Market capitalization: $1,971,378,313
Trading volume: $52,906,231
7–day loss: 4.29%
Mantle
Mantle ($MNT) has resumed its uptrend after crossing the historical price threshold of $0.60. Today, the altcoin is slipping after reaching a high of $0.85. $MNT has fallen below the moving average lines. It is predicted that the altcoin will continue to fall.
However, the price indication predicts that $MNT will fall and then reverse at the 1.272 Fibonacci extension or $0.52. $MNT is currently worth $0.56. $MNT's performance was rated as the third worst. It has the following characteristics:
Price: $0.568
Market capitalization: $3,522,528,398
Trading volume: $106,553,673
7–day loss: 4.21%
KuCoin Token
KuCoin Token ($KCS) was in an uptrend but is now in a sideways trend. The cryptocurrency was in an uptrend after recovering from its previous decline. $KCS rallied to a high of $14 but was rejected. The altcoin fell above the moving average lines before entering a sideways trend. $KCS has fallen from a high of $14.00 to a low of $9.00. Currently, the market is characterized by small, indecisive candlesticks known as doji. These candlesticks slow down the price movement of the coin.
$KCS is now the fourth worst performing cryptocurrency.
It has the following characteristics:
Price: $9.47
Market capitalization: $1,609,767,970
Trading volume: $1,639,669
7–day loss: 3.88%
Flow
$FLOW ($FLOW) is down again after recovering from its previous dip. On January 3, the altcoin fell below the moving average lines but remained above the support of $0.71. Since January 3, 2024, the cryptocurrency's upward movement has been slowed by moving average lines.
Today, the altcoin is retesting its current support of around $0.71, indicating that it will continue to fall. The current support has not been broken since January 3, 2024. If $FLOW loses its current support, it will fall even lower, to $0.37. $FLOW is the fifth worst performing cryptocurrency.
The current price: $0.7068
Market capitalization: $1,050,737,631
Trading volume: $47,100,276
7–day loss: 3.90%
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 the research before investing in funds.