Altcoins Return to Bottom Prices to Attract Buyers

The worst-performing cryptocurrencies are returning to their lowest price points after entering the bearish trend zone.

These altcoins are expected to attract buyers in oversold markets. In fact, the appeal of purchasing at the bottom is likely to accelerate a cryptocurrency’s initial surge.

Midnight

The Midnight (NIGHT) price is declining and has reached a low of $0.059. Previously, the altcoin rose to a high of $0.074 but was unable to sustain the upward trend. The price has since fallen back to its bottom level of $0.040. If the asset retraces and finds support above the critical $0.040 level, it will remain within its range. In other words, the altcoin will trade above the $0.040 support but below the $0.080 resistance.

NIGHT is currently the lowest-performing altcoin.

• 
  The current price: $0.05899

• 
  
  Market capitalisation: $979,627,274.39

• 
  
  Trade Volume: $1,564,864,534.28

• 
  
  7-day loss: 87.46%

SPX6900

The SPX6900 (SPX) price is falling after being rejected twice at the $0.75 peak. The price broke above the 21-day SMA but was halted at the 50-day SMA, or resistance at $0.75. Today, SPX has fallen to $0.51 and may return to the bottom price of $0.40. The bearish trend will continue if the price falls below the moving average lines. Meanwhile, the price is consolidating above the $0.50 support.

• 
  The current price: $0.5195

• 
  
  Market capitalisation: $483,747,853.26

• 
  
  Trading volume: $18,752,312.5

• 
  
  7-day loss: 21.13%

Ethena

Ethena’s (ENA) price is falling and trading above the $0.20 support level. The altcoin’s bullish momentum was rejected three times by the 21-day SMA barrier, resulting in the decline. The altcoin’s price is returning to its low of $0.20. However, if bearish momentum breaches the critical support level of $0.20, the altcoin could fall further to the 10 October price level of $0.148.

Meanwhile, the altcoin has dropped to a low of $0.21 at the time of writing. ENA ranks third in our list of the worst-performing coins.

• 
  The current price: $0.2103

• 
  
  Market capitalisation: $1,619,609,182.87

• 
  
  Trade volume: $147,566,748.31

• 
  
  7-day loss: 20.24%

Aerodrome Finance

Aerodrome Finance’s (AERO) price has fallen below the moving average lines. The upward trend was repelled by the 21-day SMA, resulting in the decline. Now, the altcoin has dropped to a low of $0.526.

Since December 15, the cryptocurrency price has remained above the $0.50 support. On the downside, if the bears break the $0.50 support, the altcoin will return to its bottom price of $0.322. Meanwhile, AERO continues to trade above the $0.50 support level. AERO is the fourth-worst coin in our rankings.

• 
  The current price: $0.5273

• 
  
  Market capitalisation: $477,182,778.46

• 
  
  Trade volume: $19,968,129.94

• 
  
  7-day loss: 18.81%

Story

Story’s (IP) price is falling and has reached a low of $1.66. The cryptocurrency price is approaching $1.36, which is the bottom price. The appearance of Doji candlesticks has resulted in relatively moderate price movement. The altcoin may find support above its $1.36 low.

However, if the bears breach the bottom price of $1.36, the cryptocurrency will reach its October low of $1.24. IP is the fifth-worst cryptocurrency. It possesses the following characteristics:

• 
  The current price: $1.70

• 
  
  Market capitalisation: $578,867,186.91

• 
  
  Trade volume: $23,580,048.32

• 
  
  7-day loss: 18.75%

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is 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.