Altcoins are entering oversold market territory

This week, the worst altcoins have bounced back from the bottom of their charts.

Cryptocurrencies also trade in extreme market areas. Altcoins are likely to rise as buyers are attracted to these oversold conditions.

LayerZero

LayerZero (ZRO) is trading below the moving average lines. The price of the cryptocurrency fell to $1.50 before recovering. The altcoin dipped, but then bounced back above the $1.58 support.

On the downside, if the bears continue and break below the $1.51 support, the altcoin could fall to $1.25. If the current support holds, ZRO will rise to the moving averages. ZRO is the cheapest altcoin. It has the following features:

• Current price: $1.50

• Market capitalization: $450,691,900.7

• Trade volume: $64,285,586.8

• 7 days loss: 26.87%

Arbitration

Arbitrum (ARB) falls to the bottom of its chart. The cryptocurrency broke its all-time low of $0.097. The altcoin has steadily declined due to the formation of Doji candlesticks, which slow down the price movement. Cryptocurrency assets have reached market overvalued levels. Buyers may find themselves in an oversold area, which pushes the price up. ARB ranked second in the following indicators:

• Current price: $0.0970

• Market capitalization: $564,479,153.3

• Trade volume: $111,077,200

• 7 days loss: 9.25%

Internet computer

The price of Internet Computer (ICP) fell to the bottom of its chart, reaching $2.13. On the downside, the price is nearing its previous low of $2.05 since October 10. ICP is in oversold territory, which can attract buyers at these levels.

Additionally, there are Doji candlesticks that show static price movement. ICP is the third worst coin on our list.

• Current price: $2.18

• Market Capitalization: $1,197,203,730.91

• Trade volume: $57,586,877.4

• 7 days loss: 8.74%

Stacks

Stacks (STX) fell sharply and is above $0.24. From December 19, buyers defended this lowest price level. The long tails of the candlesticks at the bottom of the chart indicate significant buying interest at $0.24. Crypto assets have also hit market overvalued levels. Today, the price is moving higher after falling to $0.244. STX is ranked as the fourth worst coin in our ranking.

• Current price: $0.2513

• Market Capitalization: $456,059,118.93

• Trade volume: $456,123,779.21

• 7 days loss: 6.27%

MemeCore

MemeCore (M) has been trading below its moving averages since February 8, with price gains limited to those lines. On February 19, the price fell sharply below the key support level of $1.20 before recovering. The extended tails of the candles suggest a strong buy above the $1.20 barrier.

From November 27, buyers defended the $1.20 support. M is ranked as the fifth worst cryptocurrency.

• Current price: $1.34

• Market Capitalization: $1,711,428,602.82

• Trade volume: $9,477,432.83?

• 7 days loss: 6.18%

Disclaimer. This analysis and prediction is the personal opinion of the author. The information 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 considered an endorsement by Coinidol.com. Readers should do their own research before investing in funds.