Worst-Performing Altcoins in June 2024

The cryptocurrency market experienced a mix of soaring and crashing altcoins during the fourth week of June 2024. While some assets surged, others faced significant losses. This article delves into the top ten worst-performing altcoins during this period.

PENDLE: Shift Towards 200 Day EMA Level

PENDLE, the leading loser, saw a drastic decline of over 18.20% to trade at $4.94. With a market cap of $1.11 billion, it ranked 72nd on Coinmarketcap. PENDLE's recent breakdown of a symmetrical triangle pattern indicates a potential move towards the crucial 200-day EMA mark, highlighting the dominance of sellers.

ENA: Corrective Patterns and All-Time Low Retest

ENA recorded a weekly decline of 14.30%, trading at $0.504 with a market cap of $717.67 million. Forming lower low swings and a falling wedge pattern, ENA might retest its all-time low of $0.300 in upcoming sessions.

GNO: Breach Below $300 with Bearish Sentiments

GNO experienced a weekly drop of 13.20%, trading at $280.25. With a market cap of $309.56 million, GNO breached the crucial 200-day EMA mark, indicating potential further declines towards the $250 level.

SUI: Bearish Trend Below $1

SUI's price slipped below $1, reflecting a bearish sentiment. Trading at $0.801, SUI witnessed a weekly decline of 10% and maintained a flat intraday movement. With a market cap of $1.94 billion, SUI faces the risk of further drawdowns without reclaiming the $1 mark.

LDO: SEC Allegations Lead to Sharp Decline

Lido DAO (LDO) traded at $1.91 with a weekly decline of 10%, impacted by SEC allegations related to its staking feature. Ranked 56th by market cap, LDO faced a sharp volume selloff after breaching the $2 pivot level.

WLD: Persistent Downtrend and Breakdown

Worldcoin (WLD) revealed severe underperformance, trading at $2.53 with a weekly decline of 9.30%. With a market cap of $650.67 million, WLD displayed bearish short and long-term projections after a range breakdown.

UNI: Rejection from $12 Supply Zone

Uniswap (UNI) faced rejection from the $12 supply zone, losing over 25% of its gains. Trading at $9, UNI recorded a weekly drop of 9% and struggled to surpass the resistance level, breaching the crucial $10 support zone.

RON: Falling Parallel Channel and Lower Swings

Ronin (RON) traded at $2.07, experiencing an 8.90% weekly decline within a falling parallel channel. With a market cap of $688.49 million, RON faced a make or break situation at the $2 mark.

TAO: Bearish Trajectory and Potential Downside

Bittensor (TAO) traded at $258.07 with a weekly decline of 7.80%, indicating a downward trajectory. Facing headwinds, TAO might reach the $200 downside in the near future.

FET: Key Moving Average Breakdown and Oversold Status

Fetch.AI (FET) traded at $1.40, witnessing a weekly decline of 7%. With oversold indicators, FET slipped below key moving averages and could potentially hit the $1 mark soon.

These top ten cryptocurrencies faced challenging weeks with bearish moves, emphasizing the importance of thorough research and cautious investment approaches for investors.