The bottom of the charts now indicates a significant drop in cryptocurrency. Altcoins are currently trading in the oversold areas of the market. When the current selling pressure stops, buyers are likely to emerge in the oversold area.
Aptos (APT) is in a downtrend as the altcoin drops below the moving average lines. The cryptocurrency’s price reached a high of $10 on October 23. Due to the overbought condition the market had reached, buyers were unable to sustain the upward momentum.
On November 2, the altcoin rose above $7.09, stopping the downtrend. The altcoin has held above the existing support for the last three days. The historical price level of October 21 is represented by the current price level. At this price, the altcoin recovered and rose to an all-time high of $10.
APT is in a positive momentum above the 25% zone of the daily stochastic. This is he cryptocurrency with the worst performance this week. It has the following characteristics:
Market capitalization: $7,351,043,135
Trading volume: $246,592,145
7-day loss: 9.74%
Klaytn (KLAY) is in an uptrend, rising to a high of $0.34 on October 29. As the market has reached an overbought condition, the uptrend has ended. After a short setback, the altcoin is currently trading in the bullish trend zone. Above the $0.22 support, the altcoin has started consolidating again.
If the current support holds, the uptrend will resume. If the current support is broken, the market will fall from here to its previous low of $0.12. Since Klaytn is at the 55 level of the Relative Strength Index for period 14, there is still room for future gains. The following are the characteristics of Klaytn, the cryptocurrency with the second worst performance this week:
Market capitalization: $2,572,209,340
Trading volume: $73,524,939
7-day loss: 9.02%
Casper (CSPR) is in a downtrend as the altcoin is making an upward correction. The 21-day line SMA has slowed down the upward correction. It follows that the altcoin will continue to fall until it reaches its previous low. If the moving average lines reject the altcoin, it will fall to a low of $0.03800.
However, the market would fall much lower below $0.0344 if the bears break the existing support. In the 14th period of the Relative Strength Index, Casper is at level 49, indicating that the forces of supply and demand are in balance. It has the third worst weekly performance among cryptocurrencies. The Coin has the following characteristics:
Market capitalization: $448,014,910
Trading volume: $13,114,592
7-day loss: 6.34%
EthereumPoW (ETHW) is in a sideways move as it breaks below the moving average lines. After being rejected at $12, the cryptocurrency was forced into a sideways move. Doji candlesticks, which have little body and little conviction, dominate the price movement. The sideways movement is caused by these candlesticks. The candlesticks show that both buyers and sellers are uncertain which direction the market will move.
The altcoin will develop when ETHW rises again. For the period 14, EthereumPow is at level 44 on the Relative Strength Index. It might go down as it is in the downtrend zone. Among cryptocurrencies, it has the fourth worst weekly performance. The cryptocurrency has the following characteristics:
Market capitalization: $699,070,800
Trading volume: $59,296,698
7-day loss: 6.23%
Quant (QNT) is in a downtrend, but the altcoin is trading between the moving average lines. The negative momentum will move to the 50-day line SMA once the price drops below the 21-day line. QNT completed an upward correction during the decline on October 20, and a candlestick tested the 50% Fibonacci retracement level.
After the correction, the altcoin will fall to the 2.0 Fibonacci extension level, or $104.80. For period 14, QNT is at level 51 on the Relative Strength Index, indicating that the forces of supply and demand are in balance. This cryptocurrency showed the fifth weakest Weekly performance. It has the following characteristics:
Market capitalization: $2,387,622,549
Trading volume: $68,974,331
7-day loss: 3.92%
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. Readers should do their research before investing in funds.
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