Ethereum Crypto Losers of the Week: Should You Buy, Sell, or HODL?
With the global cryptocurrency market going through a volatile week with major price changes, investors must decide whether to buy, sell or hold (hodl). This article analyses three Ethereum tokens, Wormhole (W), Floki Inu (FLOKI), and Worldcoin (WLD), which have all seen significant losses during the week. This article will delve deep into details about these top Ethereum crypto losers.
1. Wormhole (W)
Losses: 34.74%
Wormhole (W) has recorded 34.74% in losses for its investors in the past week, to trade at $0.4585 today. This price performance has resulted in a market cap of $826.01 million.
Examining the EMA indicators shows a dominant selling sentiment, as both the Exponential Moving Average (EMA) and Simple Moving Average (SMA) indicate a downward trend in different time frames.
The bearish trend is supported by the MACD Level, which shows selling pressure with a negative value. Moreover, the RSI value indicates a neutral sentiment, suggest that W is neither overbought or oversold.
Fibonacci pivot points indicate that there is a level of support at $0.3116 and a level of resistance at $0.7879. Based on the current price, there is a notable gap to the closest support level, indicating possible additional decreases prior to a change in direction.
2. Floki Inu (FLOKI)
Losses: 28.52%
Recording a market cap of $1.97 billion, Floki Inu (FLOKI) has experienced significant price fluctuations during the week. The value of FLOKI declined by 28.52% over the past week, to appear on the list of Ethereum crypto losers today, with a price of $0.0002061.
The technical analysis of the meme coin mainly a bearish sentiment, as both EMA and SMA indicators signal a downward trend.
The negative value of the MACD Level supports this belief by showing selling pressure. Additionally, the RSI reading indicates an oversold condition, potentially presenting a chance for investors to buy.
Fibonacci support level is at $0.0001608803 while the resistance level is at $0.0003310183. FLOKI is nearing its support level, indicating that it could potentially stabilize in the near future.
3. Worldcoin (WLD)
Losses: 21.77%
Worldcoin (WLD) finalises the list of the top Ethereum crypto losers, trading at $3.49. This demonstrates a decline of 21.77% in its price over the past week, resulting into a market cap of $838.78 million .
The technical analysis shows mostly bearish sentiment, as both EMA and SMA indicators are signaling a downward trend.
The negative MACD Level reinforces this view by showing selling pressure. Moreover, the RSI value indicates that a potential buying opportunity could be nearing as the token nears oversold territory.
Fibonacci support can be seen at $0.3116 while resistance is located at $0.7879. A price closer to the support level indicates potential stabilization or recovery.
Final Thoughts
The recent market crash has resulted in significant opportunities and challenges in the crypto market, including these Ethereum crypto losers of the week. The strong bearish signals for Wormhole (W) indicate a recommendation to sell. Floki Inu (FLOKI) warrants a hold until more clearer signals become apparent due to its mixed indicators. Worldcoin (WLD) has the potential for a speculative buy despite its current downward trend, as it may rebound.
Investors must always assess their risk tolerance and do additional research prior to making any investment choices,. Keeping up-to-date and being adaptable are essential to successfully navigate the unpredictable crypto market.
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