Cryptocurrencies are declining after a rejection from the previous high. ETC, CRV and EOS declined below the moving average lines, leaving them vulnerable to further declines. On the other hand, RVN and CEL are trading between moving average lines after rejection of overhead resistance levels. These coins seem to have reached a balance between demand and supply.
Ravencoin
Ravencoin (RVN) price is in a downward correction as it is bounded between the moving average lines. Since September 5, the cryptocurrency has been trading between moving average lines. RVN tends when moving average lines are breached.
The altcoin may continue its selling pressure as it faces a rejection of the $0.09 defense zone. Meanwhile, on the weekly chart; A retracement candlestick tested the 78.6% Fibonacci retracement level on March 21. The retracement suggests that RVN will fall to the 1.272 Fibonacci extension level or $0.011. Meanwhile, the altcoin is below the daily stochastic 50% range. It’s in stealth mode. RVN is the weakest altcoin of the week. It has the following features:
Current price: $0.04086
Market Capitalization: $857,359,999
Business volume: $59,788,139
7-Day Profit/Loss: 27.65%
Ethereum Classic
Ethereum Classic (ETC) price is on the decline as it drops to $28. The cryptocurrency was earlier moving sideways below the resistance above $42.
Buyers have been unable to sustain price increases over three consecutive attempts to break the barrier. As the market reached the oversold region, the current selling pressure subsided. Today, the altcoin has started to rise again. It is currently the second weakest altcoin. It has the following features:
Current price: $29.22
Market Capitalization: $6,113,761,189
Business volume: $627,172,237
7-Day Profit/Loss: 19.65%
Curve DAO token
Curve DAO Token (CRV) price is dropping to a low of $0.83. After a break above the $0.96 support, upside moves are limited below the moving average lines. Buyers could not keep the price above the moving average lines or the resistance at $1.20. Meanwhile, it decreased on August 20; A retracement candlestick tested the 61.8% Fibonacci retracement level.
The recap suggests that CRV will fall to the 1.618 Fibonacci retracement level or $0.67. From the price action, the altcoin dropped to a low of $0.83 and pulled back. CRV is below the daily stochastic 20% range. It indicates that the market has reached the oversold region. It is the third weakest altcoin for the week. It has the following features:
Current price: $0.9338
Market Capitalization: $3,070,952,550
Business volume: $66,957,675
7-Day Profit/Loss: 23.12%
EOS
EOS (EOS) is in a bearish trend as the price falls below the moving average lines. The cryptocurrency rose to $1.94 but was held back. On September 10, buyers faced another rejection at $1.94 resistance.
EOS has fallen below the moving average lines as it holds above the $1.15 support. If the price breaks below the bullish trend line, the selling pressure will continue. The cryptocurrency has fallen below the 20% daily stochastic range. It indicates that the market has reached the oversold region. However, EOS is the weakest altcoin for the fourth week. It has the following features:
Current price: $1.25
Market Capitalization: $1,331,053,418
Business volume: $280,140,999
7-Day Profit/Loss: 11.74%
Celsius
Celsius (CEL) price is in an upward correction but is limited between moving average lines. On September 15, the altcoin rose to $2.86 but fell sharply below the moving average lines. CEL has moved above the 21-day SMA but below the 50-day SMA.
The currency may be correlated between moving average lines for a few more days. When moving average lines are breached, an altcoin will trend. Meanwhile, CEL is at 51 for period 14 relative strength index. It indicates that there is a balance between supply and demand. The sales pressure can be reduced. The altcoin is currently the fifth weakest altcoin. It has the following features:
Current price: $1.61
Market Capitalization: $1,122,473,325
Business volume: $13,396,439
7-Day Profit/Loss: 10.88%
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