{"id":194915,"date":"2023-10-17T21:40:38","date_gmt":"2023-10-17T21:40:38","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194915"},"modified":"2023-10-17T21:40:38","modified_gmt":"2023-10-17T21:40:38","slug":"weekly-cryptocurrency-market-analysis-altcoins-drift-to-the-bottom-of-the-chart-as-buyers-pull-back","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/weekly-cryptocurrency-market-analysis-altcoins-drift-to-the-bottom-of-the-chart-as-buyers-pull-back\/","title":{"rendered":"Weekly Cryptocurrency Market Analysis: Altcoins Drift To The Bottom Of The Chart As Buyers Pull Back"},"content":{"rendered":"

Five cryptocurrencies showing the biggest price fall of the week are Mantle, Rocket Pool, Conflux, Avalanche, Polygon. Cryptocurrency analysis by Coinidol.com.<\/strong><\/p>\n

The cryptocurrencies shown in the chart below have fallen to their lowest levels. Given the fact that the cryptocurrency has formed a range at the bottom of the chart, further upside seems unlikely.<\/p>\n

Mantle <\/h2>\n

The price of Mantle (MNT) has dropped significantly and is currently in a downtrend. The bulls crossed the moving average lines on October 2, but the 50-day line SMA held them back. For three days the altcoin was held between the moving average lines. The break of the 21-day line SMA by the bears signifies the beginning of a new downtrend. MNT is selling for $0.32 at this point. The cryptocurrency asset is oversold. It is unlikely that the cryptocurrency will fall further. Mantle is the worst performing coin due to the following characteristics: <\/p>\n

<\/p>\n

Current price:<\/b> $0.3276<\/p>\n

Market capitalization:<\/b> $2,037,238,339<\/p>\n

Trading volume:<\/b> $28,993,717 <\/p>\n

7\u2013day loss:<\/b> 17.20%<\/p>\n

Rocket Pool <\/h2>\n

The price of Rocket Pool (RPL) has dropped significantly and has reached the bottom of the chart. The altcoin fell to a low of $16.85 on October 13, but the bulls bought the dips. RPL made an upward correction, but the upward movement was limited by the resistance at $21 or the 21-day line SMA. If the barrier at $21 is broken, the altcoin will rise above the moving average lines. The uptrend will continue to a high of $29. If the altcoin fails to break above the moving average lines, it will fall or be forced to trade in a range between $17 and $21. RPL is the second worst cryptocurrency based on the following criteria: <\/p>\n

<\/p>\n

Current price:<\/b> $20.12<\/p>\n

Market capitalization:<\/b> $397,250,307<\/p>\n

Trading volume:<\/b> $20,217,773 <\/p>\n

7\u2013day loss:<\/b> 14.35%<\/p>\n

Conflux <\/h2>\n

Conflux (CFX) has been in a sideways trend since the August 17 decline. Selling pressure eased above the $0.11 support level, and the price has been trading in a range between $0.11 and $0.14 since then. These price ranges have not been crossed yet. The altcoin found support above $0.11 on October 9 when the bears broke below the moving average lines. Doji candlesticks have dominated price action since October 1 as the cryptocurrency resumes consolidation above current support. At the time of writing, the altcoin is currently trading for $0.1149. The third worst cryptocurrency is CFX. Below are some of its distinctive characteristics:<\/p>\n

<\/p>\n

Current price:<\/b> $0.1149<\/p>\n

Market capitalization:<\/b> $609,074,327<\/p>\n

Trading volume:<\/b> $7,418,186 <\/p>\n

7\u2013day loss:<\/b> 11.49%<\/p>\n

Avalanche <\/h2>\n

The price of Avalanche (AVAX) has dropped below its moving average lines and is currently in a downtrend. The altcoin experienced an upward correction on September 24, ending with a high of $12. Today, the altcoin reached a low of $9.15 and dropped below the moving average. On the downside, the decline will continue if the altcoin declines and falls below the existing support at $8.70. However, if the current support holds, the altcoin will be forced to trade sideways between $8.70 and $11.00. The fourth worst cryptocurrency, AVAX, has the following characteristics:<\/p>\n

<\/p>\n

Current price:<\/b> $9.14<\/p>\n

Market capitalization:<\/b> $6,602,930,984<\/p>\n

Trading volume:<\/b> $53,307,250 <\/p>\n

7\u2013day loss:<\/b> 11.29%<\/p>\n

Polygon <\/h2>\n

Polygon (MATIC) has been moving sideways since June 10 after stopping the downtrend above the $0.50 level. Initially, the altcoin rose to a high of $0.89. As the market entered an overbought zone, the positive momentum could not be sustained. MATIC is currently trading above the support level of $0.50. The existing support has already been unsuccessfully tested by the bears three times. At the time of writing, the altcoin is selling for $0.51. The altcoin’s price is currently hovering between $0.50 and $0.59. If Polygon loses its current support, its value will drop even more. The coin with the fifth worst performance this week is MATIC. It has the following characteristics: <\/p>\n

<\/p>\n

Current price:<\/b> $0.5194.<\/p>\n

Market capitalization:<\/b> $5,199,230,645<\/p>\n

Trading volume:<\/b> $160,133,136 <\/p>\n

7\u2013day loss:<\/b> 10.00%<\/p>\n

Disclaimer.<\/b> 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.<\/span><\/i><\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Five cryptocurrencies showing the biggest price fall of the week are Mantle, Rocket Pool, Conflux,…<\/p>\n","protected":false},"author":4,"featured_media":194914,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nWeekly Cryptocurrency Market Analysis: Altcoins Drift To The Bottom Of The Chart As Buyers Pull Back - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/weekly-cryptocurrency-market-analysis-altcoins-drift-to-the-bottom-of-the-chart-as-buyers-pull-back\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Cryptocurrency Market Analysis: Altcoins Drift To The Bottom Of The Chart As Buyers Pull Back - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Five cryptocurrencies showing the biggest price fall of the week are Mantle, Rocket Pool, Conflux,...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tokenstalk.info\/crypto\/weekly-cryptocurrency-market-analysis-altcoins-drift-to-the-bottom-of-the-chart-as-buyers-pull-back\/\" \/>\n<meta property=\"og:site_name\" content=\"Tokens Talk\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-17T21:40:38+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tokenstalk.info\/wp-content\/uploads\/2023\/10\/Weekly-Cryptocurrency-Market-Analysis-Altcoins-Drift-To-The-Bottom-Of-The-Chart-As-Buyers-Pull-Back.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tokenstalk.info\/crypto\/weekly-cryptocurrency-market-analysis-altcoins-drift-to-the-bottom-of-the-chart-as-buyers-pull-back\/\",\"url\":\"https:\/\/tokenstalk.info\/crypto\/weekly-cryptocurrency-market-analysis-altcoins-drift-to-the-bottom-of-the-chart-as-buyers-pull-back\/\",\"name\":\"Weekly Cryptocurrency Market Analysis: Altcoins Drift To The Bottom Of The Chart As Buyers Pull Back - 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