Crypto Lost Price Today: Many alternative cryptocurrencies have seen steep price drops when Bitcoin once again fell below the crucial $61000 level, shedding 1.37 percent in a single day. Altcoins are already under selling pressure, and the collapse of blue-chip cryptocurrencies is making things worse. With a loss of more than 13% in the past day, Fetch.ai has taken the biggest hit today. Significant drops of around 8% each day have been witnessed by Notcoin (NOT) and SingularityNET (AGIX).
In the meanwhile, two of the day’s biggest losers—Pendle and Quant crypto—fell more than 7% intraday. In order to determine if they will continue to drop or increase for a short-term revival, let’s examine them separately.
1: Fetch.ai (FET) Crypto
Throughout the week, the price of the Fetch.ai cryptocurrency fluctuated wildly. The cryptocurrency had a solid start to the week, increasing in value by more than 30% during the first half of trading. However, the price has dragged to nil gains due to severe selling pressure in the recent few sessions, eroding most gains. The selling pressure on the FET cryptocurrency has returned for the second straight session, causing a 13% drop in the last 24 hours. As a result of the 50-day exponential moving average (EMA), the price fell.
Currently, the price may attempt to rebound from the weekly lows, so the bulls are trying to protect them. Nevertheless, if it breaks below the weekly low of $1.37, the cost could be pushed back towards the $1 level.
2: SingularityNET (AGIX) Crypto
The SingularityNET cryptocurrency fell over 9.5% in the past day, following in the footsteps of FET. As of this writing, one cryptocurrency was worth $0.61. With a current market valuation of $792.161 million, it is the 86th most valuable cryptocurrency.
Crypto has been regaining its lost ground in a descending channel pattern, as shown on the daily chart. The channel’s base has been providing necessary support. Until they are kept in the channel, the loser levels may be defended by the bulls.
3: Notcoin (NOT)
The bullish trend in Bitcoin pricing seems to be turning into a bearish one. The $0.0158 level, which was formerly support for the NOT price, is now acting as resistance.
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The daily chart shows a rejection from the $0.0158 level, suggesting that the crypto’s bearish trend will continue. At the time of writing, the NOT price was trading near $0.014, representing an intraday decline of almost 8%. If the price starts to decline again, the following possible support levels are $0.012 and $0.010.
4: Quant (QNT)
With little to no support from demand zones, the Qunat cryptocurrency has been falling precipitously since the end of April. Due to poor performance, the QNT price has dropped 45.5% in the past three months, or over 19.3% monthly and more than 6% weekly.
This week, the bulls tried to stage a temporary comeback. But once again, sellers were in charge, and the crypto market was under constant net selling pressure. Attempting to find support from the psychological level, the QNT cryptocurrency was trading near $70 at the time of writing.
5: Pendle (PENDLE)
For the fourth session in a row, Pendle cryptocurrency was trending downward. Trendline support has been pulled closer by the heavy selling pressure that followed the breach of the 50-day exponential moving average (EMA). As of this writing, one PENDLE coin was trading at about $5.08, a decrease of 7% over the previous 24 hours.
Additionally, there is optimism about the trend outlook for the long run, which can lead to reduced buying volumes. If the price rebounds from the trendline support and reclaims above the 50-day exponential moving average (EMA), it may restart its path toward the $7 level, indicating the end of its correction phase.
