The broader cryptocurrency market exhibited a stable, lateral movement this week. Yet, some cryptocurrencies lagged, not contributing positively to investors’ portfolios.
Let’s analyze whether these underperforming assets persist in their downward trend in the upcoming trading sessions. Investors need to have a closer look at their portfolio and square off their positions to invest in the assets that are currently outperforming the market.
Uniswap (UNI) Leads Top Weekly Losers
Uniswap declined 14.19% and became the top underperformer of the week. At the time of writing, UNI was trading close to $9.76, recording a swift intraday loss of 1.06%.
Moreover, the daily chart suggests that the crypto is on a three-day losing streak, slipping below the key $10 mark. The short-term trend outlook is sideways and indecisive, with the price oscillating between $11 and $8 range.
Recently, the price has reversed its course from the higher boundary of the range and might show more declines until it hits near the lower boundary of the $8 level. A definitive trend direction is likely to emerge only after a breakout from the range formed.
Core Crypto Hovering At A Crucial Zone: Can It Recover Or Lose More?
Core blockchain architecture offers the flexibility of an Ethereum Virtual Machine (EVM) chain, which is essential for managing smart contracts and decentralized applications (dApps). Developers who contribute to the Core ecosystem by building dApps are incentivized with S-Prize tokens.
The protocol embraces decentralization by being governed by a decentralized autonomous organization (DAO). This DAO controls transaction fees, sets governance rules, suggests system enhancements, and votes on development proposals.
Recently, Core Crypto has been attempting to find stable ground near the 20 and 50 Exponential Moving Averages (EMAs). The crypto has lost nearly 13.81% this week and emerged as the second most underperforming cryptocurrency of the week.
Moreover, the short-term trend outlook is sideways, with the price fluctuating between the $2.76 and $1.31 range. Until CORE price sustains in the range, it may continue to continue to underperform in the upcoming sessions.
Akash Network Near A Support Level: Bounce Back Or Breakdown?
Akash Network employs a comprehensive security strategy to protect its decentralized cloud computing environment. The network’s robustness is anchored by its proprietary cryptocurrency, AKT, which is integral to its security framework.
The platform operates on an innovative Layer One Protocol powered by the Cosmos SDK, which is tailored for crafting interoperable blockchain applications with superior performance.
Akash Network price was trying to stabilize near a positive trendline support. Earlier, the crypto kept on losing for most of the sessions this week and has dropped by over 13%.
Now, if market optimism prevails and the current support holds, then a bounce back is likely in the AKT crypto, which may take the price to the higher levels of $5 and $6.
Conversely, if market sentiment turns bearish and the price dips below the trendline, a downward trajectory could ensue, possibly driving the price down to the $4.2 and $3.4 thresholds.
