Altcoins Slump As Bears Continue To Defend Recent Highs
The post Altcoins Slump As Bears Continue To Defend Recent Highs appeared on BitcoinEthereumNews.com.
Dec 11, 2024 at 10:18 // Price The worst-performing cryptocurrencies are experiencing comparable selling pressure at recent highs, causing altcoins to fall. Some altcoins have retreated and found support above the 21-day SMA. This will help to recover and resume bullish patterns. For others, the chances of recovery are slim as the asset has fallen below the moving average lines. Some of these cryptocurrencies are discussed here. Stellar Stellar (XLM) is bearish after reaching a high of $0.65. The altcoin had been recovering from a previous downturn before the recent rejection. XLM has pulled back above the moving averages. On the upside, the current uptrend will resume if the altcoin retraces and stays above the 21-day SMA. On the downside, XLM will fall further if the bears break below the 21-day moving average. The altcoin will fall above the 50-day SMA or the low of $0.26. XLM is the worst-performing coin, according to these metrics. The current price: $0.4113 Market Capitalization: 12,403,368,135.29 Trading Volume: $1,026,825,922.87 7–day Loss: 14.24% Raydium Raydium (RAY) is falling below the moving average lines but was stopped above the 50-day SMA. In other words, the cryptocurrency is trapped between the moving average lines. If the 50-day support holds, the altcoin will be forced to trade in a narrow range. On the downside, selling pressure will pick up once the bears drop below the 50-day SMA. The altcoin will fall to the bottom of the chart or the low of $3.00. RAY has the following characteristics. The current price is $4.11. Market capitalization: 1,198,558,133.26 Trading volume: $147,105,104.87 7-day loss: 7.16% Core Core (CORE) prices have fallen to a high of $2.05 after the recent surge. The altcoin is falling near the moving average lines. On the downside, selling pressure will continue if the price falls below the…
Filed under: News - @ December 11, 2024 10:23 am