In the past week, the cryptocurrency market has experienced significant fluctuations. This analysis will focus on the top 5 cryptocurrencies that have recorded the most severe losses during the last seven days. These cryptocurrencies include The Sandbox (SAND), Decentraland (MANA), Sui (SUI), Axie Infinity (AXS), and Chiliz (CHZ).
The Sandbox (SAND)
The Sandbox has lost 36.40% in the past week, dropping its price to $0.3823. Despite the decline, the project’s market cap remains strong at $708,696,755. The 24-hour trading volume for SAND is $89,382,539, and it currently has a circulating supply of 234,257,038 SAND out of a total supply of 1,853,581,926 SAND.
The technical indicators for SAND are neutral, suggesting a lack of clear direction. Traders may consider the current price level and monitor for potential support or resistance levels before making trading decisions.
Decentraland (MANA)
Decentraland has recorded a 34.13% loss in the past week, with its current price at $0.3382. Its market cap is $635,212,521, while its 24-hour trading volume is $48,045,526. MANA has a circulating supply of 142,164,254 tokens and a total supply of 1,878,271,532 tokens.
The moving averages for MANA indicate a “Sell” signal across multiple timeframes, ranging from 10 to 200 periods. This suggests that the price of MANA is in a bearish trend, and the market sentiment appears negative.
The oscillators for MANA present a mixed picture, with some indicators in the “Neutral” zone and others leaning toward “Sell.” This signifies a need for clearer direction for the price of MANA in the short term, and traders should monitor the market closely for any potential shifts in momentum.
Sui (SUI)
Sui has suffered a 33.64% drop in value over the last seven days. Its current price is $0.6103, and the market cap is $368,642,533. SUI’s 24-hour trading volume is relatively high at $127,928,168, while its circulating supply is 209,684,813 SUI, and the total supply is 604,047,436 SUI.
The MACD (12, 26) indicator currently shows a value of -0.00010701. The signal line, calculated using a 9 EMA, is at 0.00089222. The histogram represents the difference between the MACD and the signal line at 0.00099922. Based on these values, the MACD suggests a sell signal.
The Relative Strength Index (RSI) (14) is 59.48. This indicator compares the magnitude of recent price gains to recent price losses to determine whether an asset is overbought or oversold. In this case, the RSI indicates a buy signal.
Axie Infinity (AXS)
Axie Infinity witnessed a 33.60% loss in the past week, with its price now at $4.83. The market cap is $566,973,775, and its 24-hour trading volume is $35,346,660. The circulating supply of AXS tokens is 7,319,684, with a total supply of 117,297,480 AXS.
The RSI value is 60.08, indicating a relatively neutral SUI market. RSI above 50 suggests bullish momentum.
Chiliz (CHZ)
Lastly, Chiliz has recorded a 33.32% loss during the last seven days. Its current price is $0.06669, and its market cap is $467,533,524. CHZ has a 24-hour trading volume of $36,874,720 and a circulating supply of 550,738,559 CHZ out of a total supply of 7,010,647,158 CHZ.
In conclusion, the past week has seen significant losses for these top 5 cryptocurrencies. Investors must keep track of market trends and developments within these projects to make informed decisions. Despite the recent downturn, each project holds potential for future growth, and its long-term outlook remains promising.
