Weekly Cryptocurrency Market Analysis: Altcoins Crash As They Lose Support Levels

Altcoins are vulnerable to a further decline as the worst-performing cryptocurrencies trade in a bearish trend zone.

Cryptocurrencies are losing current support levels. We'll talk about a few different cryptocurrencies.

ORDI

ORDI (ORDI) has fallen below the moving average line but is still above the $48 support. The previous trend ended after reaching a high of $91 on January 2. The altcoin has been in a downtrend for three weeks. The downward momentum has eased and ORDI remains above the $51 support. ORDI is currently worth $56. The current support holds from December 17, 2023. If the current support holds, ORDI will resume its uptrend. If the buyers fail to keep the price above the recent high, the price will move between $51 and $66. A break above the moving average lines will signal the resumption of the trend. By these standards, ORDI is the worst performing altcoin among cryptocurrencies.

Actual Price: $56.50

Market capitalization: $1,186,403,063

Trading volume: $187,271,077

Loss of 7 days: 11.17%

COURT

WOO (WOO) price is trading below the moving average lines and could fall further. On January 23, the altcoin fell to a low of $0.32 and bulls bought the dips. The altcoin is falling again as it faces further rejection. If the bears fall below the $0.32 support level, the downtrend will continue until $0.23. If the current support level holds, the sideways trend will resume. The price of the cryptocurrency will move between $0.32 and $0.42. The second worst performing altcoin is WOO. Below are some amazing features:

Actual Price: $0.3541

Market capitalization: $790,172,114

Trading volume: $13,274,065

Loss of 7 days: 7.57%

Mantle

Mantle (MNT) price is falling below the moving average lines while holding above the $0.59 support level. The altcoin has reached bearish exhaustion and is consolidating above the $0.59 support. The cryptocurrency price has been consolidating above current support over the past week. If the current support is broken, the altcoin will fall lower and retrace above the $0.54 level, as per the price indication. Today, the altcoin has fallen to a low of $0.60 at the time of writing. MNT's performance was considered the third worst. It has the following features:

Actual Price: $0.6097

Market capitalization: $3,791,705,144

Trading volume: $64,791,360

Loss of 7 days: 7.39%

Litecoin

Litecoin (LTC) falls below the moving average lines. The altcoin is trading in the previous range of $60 to $70. Litecoin is now worth $67.69. The altcoin's bullish correction is over as it faces rejection from the $68 high. The price of the cryptocurrency will fluctuate within its range as the trend is determined. Litecoin price will resume a positive trend if it rises above the moving average lines or the $70 resistance level. Litecoin is currently the fourth worst performing cryptocurrency. It has the following features:

Actual Price: $67.68

Market capitalization: $5,683,357,372

Trading volume: $250,897,551

Loss of 7 days: 6.49%

Speed

Astar (ASTR) is on the rise as it recovers from its previous decline. The altcoin has risen as high as $0.19 today, although adoption at this level is still difficult. Since January 3, the altcoin has been fluctuating below the $0.20 resistance level. On the downside, selling pressure will increase again if the cryptocurrency price falls below the moving average lines. Meanwhile, the altcoin is trading above the moving averages but below the barrier level. For the reasons listed below, ASTR is the fifth worst performing cryptocurrency.

Actual Price: $0.1796

Market capitalization: $1,487,278,842

Trading volume: $29,067,618

Loss of 7 days: 6.16%

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrencies and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.