Weekly Cryptocurrency Market Analysis: Altcoins Stuck At Overhead Resistance Levels

The altcoins listed below have varying degrees of downside. The cryptocurrencies are falling as they are rejected at overhead resistance levels.

Last week, these resistance levels have not been breached recently, which is hindering the upward movement of cryptocurrencies. Several different altcoins are discussed.

Wormhole

The price of Wormhole (W) has fallen after reaching a high of $1.94. The bulls were unable to sustain their upside momentum above the $2.00 resistance level. Today, the altcoin has fallen to a low of $0.89. Given the recent vertical upswing, it is uncertain how much bearish momentum is present. The uptrend will begin if the altcoin retraces and stays above the $0.50 support. 

The altcoin is the worst performing cryptocurrency. It has the following characteristics:

Price: $0.8969

Market capitalization: $8,967,454,694

Trading volume: $394,796,971 

7-day loss percentage: 35.48%

Core

The Core price (CORE) is in a bull market and is declining. In the previous price action, the vertical upswing reached a high of $4.29 before quickly retreating. The bearish momentum reached a low of $2.50, adding to the selling pressure. 

CORE has reached a low of $2.40 and could fall further. The next support level is the 21-day SMA. However, if the altcoin remains above the 21-day SMA support, the rise will resume. The altcoin will rise to its previous high of $4.29. 

CORE is the second worst performing coin. It has the following characteristics:

Price: $2.42

Market capitalization: $5,077,841,115

Trading Volume: $133,845,359

7-Day Loss: 25.32%

Jupiter

Jupiter (JUP) is in an uptrend, but it ended when the altcoin fell below the 21-day SMA. The downtrend will continue to a low above the 50-day SMA or the $1.01 support. If the bulls stop the downtrend above the 50-day SMA, the price of the cryptocurrency will be trapped between the moving average lines. If the price falls below the moving average lines, JUP will see a much sharper decline. The selling pressure will continue to the low of $0.79. Meanwhile, the currency’s value stands at $1.36. By these standards, JUP is the third worst performing cryptocurrency.

The current price: $1.36

Market capitalization: $13.644.540.139

Trading volume: $228,519,389

7–day loss: 15.07%

Aptos

The price of Aptos (APT) is rising as it recovers from the recent downturn. The cryptocurrency value will fully recover if buyers break above the $20 overhead resistance. The altcoin is currently trading below the moving average lines after hitting the $20 resistance. APT is worth $13.46 at the time of writing. If the altcoin falls below the moving average lines, it could drop even lower below $10.50. The fourth worst performing cryptocurrency is APT. Here are a few key features:

Current price: $13.68

Market capitalization: $14.910.922.816

Trading volume: $180,857,718 

7–day loss: 9.93%

Sui

Sui (SUI) is on an upswing and is trading in a bull market. The upswing came to an end when the price reached the $2.20 level. The bearish momentum has fallen below the moving average lines. This suggests that the altcoin could fall further, possibly to its previous low of $1.40. If the current support level of $1.40 holds, the uptrend will continue. The long candlestick tails at the current support point to strong buying at lower price levels. SUI is the fifth worst performing cryptocurrency. It has the following characteristics:

Price: $1.59

Market capitalization: $15.862.205.296

Trading volume: $247,776,060 

7–day loss: 7.68%

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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