Altcoins Make a Modest Recovery Amid Selling Pressure

This week’s cryptocurrency recovery has been brief, as bears continue to push prices below the moving average lines.

Some altcoins have dropped to the bottom of the chart, while others have maintained positive momentum by staying above the moving average lines.

Kaspa

Kaspa (KAS) is undergoing an upward correction after a recent decline. Previously, the crypto asset was in a downtrend and fell to a low of $0.037, where bulls bought the dips.

Currently, buyers have pushed the altcoin above the moving average lines. The price has crossed the $0.06 mark and retraced above the moving averages. KAS is expected to rise further if the 50-day SMA support holds. A break above the $0.060 high could propel the altcoin to $0.08. However, if the 50-day SMA support is breached, the altcoin may fall to $0.030. KAS is currently the best-performing cryptocurrency.

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  The current price: $0.05346

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  Market capitalization: $1,442,589,817.05

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  Trading volume: $69,030,931.87

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  7-day gain:  47.83% 

SPX6900

SPX6900 (SPX) failed to sustain its price recovery as the upward trend was constrained between the moving average lines. The price is trading above the 21-day SMA support but remains below the 50-day SMA resistance. After being rejected at the recent high, the price has slipped but is still above the 21-day SMA. If the bears had overcome the 50-day SMA barrier, the altcoin could have surged to $1.65.

Now, the bears have the advantage and are attempting to break below the 21-day SMA support.

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  The current price: $0.6078

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  Market capitalization: $565,963,942.29

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  Trading volume: $43,455,398.28

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  7-day gain: 39.80%

Quant

Quant (QNT) price has rebounded from its recent downturn. The cryptocurrency broke above the moving average lines, resulting in a series of higher highs and higher lows. The altcoin surged to a high of $108 before pulling back. The price is currently just above the $93 support level.

Bullish momentum is likely to continue if this support holds. If the current resistance is overcome, QNT could rise to the next target at $132. QNT is the third highest-performing coin.

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  The current price: $93.61

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  Market capitalization: $1,130,145,583.62

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  Trading volume: $66,442,899.72

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  7–day gain: 35.39 %

Sky

Sky (SKY) is declining after a false breakout above the moving average lines. The altcoin reached a high of $0.056 before falling sharply between the moving averages. The price has dropped above the 21-day SMA support but remains below the 50-day SMA. If the 21-day SMA support is breached, the altcoin may fall to a low of $0.041.

Currently, the price is trapped between the moving averages. SKY is the fourth most successful altcoin.

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  The current price: $0.05057

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  Market capitalization: $1,157,048,109.37

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  Trading volume: $32,892,939.8

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  7–day gain: 28.93 %   

Pimp.fun

Pimp.fun (PUMP) is returning to its previous low of $0.0024 after being rejected at the 21-day SMA barrier. PUMP has remained above this prior low since 21 November. If this support is broken, the altcoin could decline further to $0.0022. Meanwhile, the altcoin is trading in the oversold zone. PUMP is the fifth-best-performing altcoin. Here are some of its characteristics.

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  The current price: $0.002682

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  Market capitalization: $948,992,270.6

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  Trading volume: $210,298,349.36

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  7–day gain: 22.03%

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.