Altcoins Return To Oversold Territory As Selling Pressure Continues

The cryptocurrencies listed below have fallen significantly into the lower area of ​​the chart. Currently, altcoins are trading in the oversold area of ​​the market. As the current selling pressure subsides, buyers could emerge in the oversold territory.

chain

Chain (XCN) has been trending downward since July 10th. The cryptocurrency fell sharply to a low of $0.050. XCN has fallen into the oversold zone of the market. If the market reaches oversold territory, selling pressure may ease. This zone will probably attract buyers. XCN is oversold as it is below the daily Stochastic 20% area. Chain is the worst performing cryptocurrency this week. It has the following features:

Price: $0.05162
Market cap: $2,760,173,900
Trading Volume: $13,094,858
7 days loss: 22.17%

Manufacturer

Maker (MKR) is in a downtrend as the cryptocurrency price broke below the 21-day line SMA. It is trading above the 50-day line SMA but below the 21-day line. MKR will be forced to move between the moving averages. In a downtrend, if the price breaks below the 50-day line SMA, the downtrend will continue.

On the plus side, the uptrend will resume if buyers sustain the price above the 21-day line SMA. The altcoin will rise and recapture its previous high of $1,100. The daily Stochastic is below 20% in the oversold territory. Buyers show up and push the price up. Maker was the second worst performing cryptocurrency last week. It has the following features:

Price: $902.44
Market cap: $905,474,189
Trading Volume: $42,314,059
7 days loss: 13.67%

Casper

Casper (CSPR) is in an uptrend, reaching a high of $0.055 and then retreating. The current uptrend has broken since his October 16th. Over the past two weeks, altcoins have been flattening below recent highs. Altcoins surpassed his 21-day SMA today. If the 21-day line holds, the sideways trend is likely to continue. If the bear market breaks below his 21-day SMA, selling pressure could reintensify. Casper is on a bearish run below his 40% area on the daily Stochastic. His third worst performing cryptocurrency this week. It has the following features:

Price: $0.04262
Market cap: $479,178,674
Trading Volume: $20,360,128
7 days loss: 11.03%

Quants

Quants (QNT) are in a downtrend as price broke below the 21-day line SMA. The last uptrend ended on his October 17th. If the price breaks below the 21-day SMA, the bearish momentum will extend to his 50-day SMA.

Meanwhile, on October 20, QNT made an upward correction, with the candlestick testing the 61.8% Fibonacci retracement level. This correction shows altcoins falling to the 1.618 Fibonacci extension or $128.62 level. QNT has reached the oversold territory below the 20% range of the daily Stochastic. His 4th worst performing cryptocurrency this week. It has the following features:

Price: $168.18
Market cap: $2,458,372,438
Trading Volume: $83,810,230
7 days loss: 10.97%

helium

Helium (HNT) has been trending sideways since the bearish plunge on Sept. 6. The cryptocurrency price has broken below the moving averages and started a range-bound move. The price bar features little indecisive candles called blunders. These are responsible for movement within the altcoin range.

Candlesticks indicate indecision between buyers and sellers regarding market direction. HNT is below the 20% range of the daily Stochastic. The moving average line is horizontally sloping and indicates a trend. Helium is the fifth worst performing cryptocurrency of the week, with the following characteristics:

Price: $4.12
Market cap: $913,254,547
Trading Volume: $4,340,755
7 days loss: 4.15%

Disclaimer. This analysis and predictions are the author’s personal opinion and are not endorsements to buy or sell cryptocurrencies and should not be considered endorsements by CoinIdol. Readers should do their research before investing in any fund.