Generally, cryptocurrencies are making positive moves as they break above the moving averages. A handful of cryptos are still battling to recover at the bottom of the chart. Let us discuss some of the weakest coins.
XDC Network
XDC Network (XDC) is in a downtrend as price breaks below the moving averages. On May 12, the altcoin declined to the low of $0.032. On June 26, the coin further declined to the low of $0.027 before making an upward correction.
However, the upward correction is facing rejection at the 21-day line SMA as the altcoin declines. The downtrend will resume when the $0.027 support is breached. Meanwhile, on May 12 downtrend; a retraced candle body tested the 78.6% retracement level. The retracement indicates that XDC will fall but reverse at level 1.272 Fibonacci extension or $0.024. XDC is the weakest altcoin at the moment. The crypto has the following features:
The current price: $0.02899
Market Capitalization: $1,093,673,608
Trading Volume: $5,820,827
7–day Gain/Loss %: 1.36%
Bitcoin Cash
Bitcoin Cash (BCH) is in a downtrend and the coin has reached bearish exhaustion. Firstly, on May 12, BCH declined to the low of $150. Later, on June 26, it further decline to the low of $107 and resumed consolidation above the current support. Nonetheless, the cryptocurrency has fallen below the 20% range of the daily stochastic.
It indicates that BCH has reached the oversold region of the market. The current downtrend is likely to subside. Meanwhile, on May 12 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The retracement indicates that BCH will fall but reverse at level 1.272 Fibonacci extension or $111.74. It is the second weakest altcoin at the moment. The crypto has the following features:
The current price: $117.44
Market Capitalization: $2,466,209,216
Trading Volume: $1,508,457,516
7–day Gain/Loss %:2.26%
TRON
TRON (TRX) is in a downtrend but is making an upward correction to break above the moving averages. In the meantime, the coin is approaching the moving average lines. On the upside, if the bulls break above the moving average lines and the bullish momentum is sustained, the uptrend will resume.
Conversely, if the coin turns from the moving average lines, the selling pressure will resume. The downtrend will commence when the bears break below the previous low. Meanwhile, on June 14 downtrend; a retraced candle body tested the 61.8% Fibonacci retracement level. The retracement indicates that the altcoin will fall to level 1.618 Fibonacci extension or $0.033 price level. TRON is the third-weakest altcoin at the moment. It has the following characteristics.
The current price: $0.06493
Market Capitalization: $5,995,654,025
Trading Volume: $436,828,615
7–day Gain/Loss: 7.76%
Bitcoin SV
Bitcoin SV (BSV) price has regained bullish momentum as price breaks above the moving averages. The cryptocurrency reached the high of $67 and pulled back. Presently, it is fluctuating below the resistance level. The uptrend will resume when the initial resistance is overcome.
Meanwhile, on June 14 uptrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that the altcoin will rise to level 2.618 Fibonacci extension or $95.74 price level. The altcoin is at Level 59 of the Relative Strength Index for period 14. BSV is the fourth weakest altcoin of the week. It has the following features:
The current price: $63.70
Market Capitalization: $1,337,255,423
Trading Volume: $71,029,569
7–day Gain/Loss:9.95%
Klaytn
Klaytn (KLAY) is in a downtrend as it fell to the low of $0.14 on June 13. Since June 13, the altcoin has been consolidating above the $0.14 support. The cryptocurrency has fallen significantly and retested the historical price level of November 2020. Meanwhile, the altcoin is below the 20% range of the daily stochastic. It indicates that the market has reached the oversold region of the market. Further selling pressure is unlikely. The cryptocurrency is the fifth weakest altcoin at the moment. It has the following features:
The current price: $0.2516
Market Capitalization: $2,705,369,143
Trading Volume: $29,796,561
7–day Gain/Loss % : 9.03%
