Altcoins Return To Their Bearish Path Due To Short-Term Uncertainties

The weaker altcoins are slipping below the moving average lines. Others have remained range-bound due to market concerns. Crypto are trading sideways in anticipation of a potential bounce or breakdown. DeXe DeXe (DEXE) is dropping below the moving average lines. The altcoin is likely to continue falling as long as it remains in the downtrend zone. Since April 1, the cryptocurrency has been trading above the $13 support and below the moving average lines/resistance at $16. The upward movement was slowed down by the moving average lines and the $16 barrier. Today, the crypto price has fallen below the current support. If the existing support is broken, DEXE will fall further, possibly to $10. DEXE, the worst performing cryptocurrency, has the following characteristics: The current price: $12.67 Market Capitalization: $1,061,471,813.19 Trading Volume: $24,408,248.26 7– day Loss: 16.73% Tether Gold Tether Gold (XAUt) is trading sideways below the $3,400 level. The cryptocurrency was trading above the support level of $3,200 but below the high of $3,400. Today, the downtrend has broken below the moving average lines and could fall further. If the current support is broken, the altcoin will fall to $3,000 or lower. However, if the current support holds, the market will continue its sideways movement within the uptrend zone. The altcoin has the second worst performance in terms of the following parameters. The current price: $3,228.04 Market Capitalization: $795,789,605.37 Trading Volume: $19,752,504.74 7–day Loss: 4.17% PAX Gold PAX Gold (PAXG) is trading sideways below $3,400. Buyers have failed to sustain the bullish momentum above $3,400, resulting in sideways movement. The altcoin is above the $3,200 support but below the $3,500 high. The price of the cryptocurrency has stopped at the 50-day SMA but remains trapped between the moving average lines. The altcoin will return to its bullish path if it breaks above the $3,400 resistance level and the moving average lines. Similarly, PAXG will fall if it loses the 50-day SMA or the low at $3,200. The current price: $3,236.60 Market Capitalization: $766,799,743.03 Trading Volume: $47,230,199.79 7–7–day Loss: 3.99% UNUS SED LEO The price of UNUS SED LEO (LEO) falls below the moving average lines. Prior to its breakdown, the altcoin was in a sideways pattern below the overhead barrier at $10. LEO fell to a low of $8.30 before starting to rise again. If buyers keep the price above the moving average lines, the altcoin will reach a high of $10. However, if the price falls below the moving average lines, the selling pressure will increase again. The altcoin will test the low of $8.30. LEO is the altcoin with the worst fourth performance. The current price: $8.82 Market capitalization: $8,148,860,312.46 Trading volume: $8,148,860,312.46 7-day loss : $0.42% KuCoin Token The price of KuCoin Token (KCS)is moving sideways above the moving average lines. The presence of doji candlesticks has slowed the movement of the crypto price above the moving average lines. The price of the cryptocurrency is above the moving average lines, but it has remained below the $12 high. KCS is stabilizing above the $11 support as traders are undecided about the direction of the market. KCS is the fifth worst performing cryptocurrency. The current price: $11.36 Market Capitalization: $1,420,704,850.9 Trading Volume: $1,233,973.84 7– day Loss: 0.69% Disclaimer. This analysis and forecast are the personal opinions of the author. They 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. Source: https://coinidol.com/weekly-bearish-path/