Coinidol.com Weekly Cryptocurrency Market Analysis: Altcoins Return to Rock Bottom Prices to Attract Buyers

The worst performing cryptocurrencies return to their lowest price points after entering the bearish trend zone.

These altcoins are expected to attract buyers in oversold markets. In fact, the allure of buying at the bottom will likely accelerate a cryptocurrency’s initial rise.

Midnight

The Midnight (NIGHT) price is falling and has reached a low of $0.059. Previously, the altcoin rose to a high of $0.074 but could not sustain the uptrend. The price has since fallen to the lowest level of $0.040. If the asset returns and finds support above the critical USD 0.040 level, it will remain within its range. In other words, the altcoin will trade above the support at $0.040 but below the resistance at $0.080.

NIGHT is currently the worst performing altcoin.

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  The current price: $0.05899

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  Market cap: $979,627,274.39

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  Trading volume: $1,564,864,534.28

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  7-day loss: 87.46%

SPX6900

The SPX6900 (SPX) price is falling after being rejected twice at its peak of $0.75. The price broke above the 21-day SMA, but was halted at the 50-day SMA, or resistance at $0.75. Today, the SPX has fallen to $0.51 and may return to the bottom price of $0.40. The bearish trend will continue if the price falls below the moving average lines. Meanwhile, the price is consolidating above the $0.50 support.

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  The current price: $0.5195

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  Market cap: $483,747,853.26

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  Trading volume: $18,752,312.5

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  7-day loss: 21.13%

Athens

Ethena (ENA) price is falling and trading above the $0.20 support level. The altcoin’s bullish momentum was rejected by the 21-day SMA barrier three times, resulting in a decline. The price of the altcoin returns to the low of $0.20. However, if bearish momentum crosses the critical support level at $0.20, the altcoin could fall further towards the October 10 price level of $0.148.

Meanwhile, the altcoin has fallen to a low of $0.21 at the time of writing. ENA ranks third in our list of the worst performing coins.

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  The current price: $0.2103

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  Market cap: $1,619,609,182.87

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  Trading volume: $147,566,748.31

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  7 day loss: 20.24%

Airport Finance

The price of Aerodrome Finance (AERO) has fallen below the moving average lines. The uptrend was repelled by the 21-day SMA, resulting in the decline. Now the altcoin has fallen to a low of $0.526.

Since December 15, the cryptocurrency price has remained above the $0.50 support. On the other hand, if the bears break the $0.50 support, the altcoin will return to the bottom price of $0.322. Meanwhile, AERO continues to trade above the $0.50 support level. AERO is the fourth worst coin in our rankings.

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  The current price: $0.5273

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  Market cap: $477,182,778.46

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  Trading volume: $19,968,129.94

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  7-day loss: 18.81%

Story

The price of Story (IP) is falling and has reached a low of $1.66. The price of cryptocurrency is approaching $1.36, which is the floor price. The appearance of Doji candlesticks has resulted in relatively moderate price movement. The altcoin could find support above the low of $1.36.

However, if the bears breach the bottom price of $1.36, the cryptocurrency will hit the October low of $1.24. IP is the fifth worst cryptocurrency. It possesses the following features:

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  The current price: $1.70

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  Market cap: $578,867,186.91

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  Trading volume: $23,580,048.32

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  7-day loss: 18.75%

Disclaimer. This analysis and prediction 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 considered an endorsement by Coinidol.com. Readers should do their research before investing in funds.