In the past week, Lido Dao, Worldcoin (WLD), and Notcoin were among the top crypto losers in terms of price, failing to retain momentum amidst a mixed sentiment and overall market recovery. The global crypto market cap saw a rise of over 3.89% to $2.4 trillion, with Bitcoin (BTC) recovering by over 4% intraday, fueling positive sentiment among other altcoins except LDO, WLD, and NOT.
Lido Dao (LDO) token reached a critical juncture as it experienced a significant dip, falling to its pivotal support zone of $1.50 below key moving averages. Trading in a downtrend, LDO was in a make or break situation as bulls tried to secure the demand zone to prevent a selloff. The token has historically rebounded from the $1.50 mark, with the current price at $1.59 and a market cap of $1.42 billion, ranking 66th.
Notcoin (NOT), based on the TON network, displayed a range breakdown as the play-to-earn token reflected low investor interest with a significant retracement in recent weeks. Despite breaking out of a falling wedge pattern, NOT failed to hold gains and lost 20% this month. At the time of writing, NOT was trading at $0.0140 with a monthly return ratio of -20.30% and 1782.0% yearly, still trading above the 38.2% Fib zone.
In terms of liquidations, Coinglass data showed that short and long liquidations were at equilibrium, indicating a balance between bulls and bears. However, the top 3 crypto losers, including LDO, WLD, and NOT, suggested that bears were more dominant in their trading strategies. Worldcoin (WLD) retested its 52-week low support at $2 with a market cap of $682.47 million, trading at $2.34 at the time of writing, with sellers adding short positions leading to a significant fall over the past few months.
Despite the negative funding rate observed in Worldcoin futures trading, indicating a bearish stance, there is potential for recovery as the funding rate stood at -$0.058%. While LDO, WLD, and NOT faced underperformance and remained in the red for the week, the trend could change in the future, presenting opportunities for investors to accumulate at lower price points. It is essential for investors to closely monitor these altcoins and identify potential opportunities amidst market fluctuations.
