Price Prediction for August 31: HNT, AVAX, AR, BTG, and GMT

Original author: Azeez Mustapha

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The cryptocurrencies are in a downtrend and have fallen to the bottom of the chart. The weakest altcoins have revisited the previous support levels. However, the cryptos risk further declines if the current support levels are breached. Let us discuss in detail the weakest altcoins below:

Helium
Helium (HNT) price is in a downtrend as the altcoin declined below the moving average lines. The initial upward moves have been repelled at the $12.50 resistance level. Crypto has fallen significantly below the moving average lines.

On the downside, the selling pressure will be accelerated when price breaks below the moving average lines. The selling pressure has increased as bears broke below the current support at $6.49. HNT is below the 20% range of the daily stochastic. It indicates that the market has reached the oversold region. It is the weakest altcoin for the week and has the following characteristics:

The current price: $0.7819
Market Capitalization: $4,691,207,441
Trading Volume: $188,880,414
7–day Gain/Loss: -28.50%

Avalanche
Avalanche (AVAX) price is in a downtrend as the altcoin fell to the low of $18. The bulls bought the dips as the market rallied to the high of $19.53 at the time of writing. The upward correction is facing resistance at the $20 high. It implies that the downward move will continue.

AVAX is below the 20% range of the daily stochastic. It implies that it has reached the oversold region. The downtrend will subside as the market reaches the oversold region. The current trend has reached bearish exhaustion. It indicates that the market has reached the oversold region. Buyers are expected to emerge to push prices upward. The altcoin is the second-weakest altcoin at the moment. It has the following characteristics:

The current price: $18.85
Market Capitalization: $13,637,369,587
Trading Volume: $303,296,701
7–day Gain/Los: 14.80%

Arweave
Arweave (AR) is in a downtrend as price breaks below the moving average lines. The cryptocurrency was earlier in a sideways trend as it fluctuates below the $16 overhead resistance. Today, the bears have broken below the moving average lines to reach the low of $10.13 price levels

The altcoin may decline to the previous low at $7.70. Meanwhile, the altcoin is at level 31 of the Relative Strength Index for period 14. It indicates that AR is in the downtrend zone but approaches the oversold region of the market. The current downtrend may subside as it reaches level 30 of the RSI. The altcoin is the third-weakest altcoin at the moment. It has the following characteristics:

The current price: $19.52
Market Capitalization: $14,057,369,386
Trading Volume: $297,672,265
7–day Gain/Loss: 14.57%

Bitcoin Gold
Bitcoin Gold (BTG) is in a downtrend as price breaks below the moving average lines. The selling pressure is likely to resume as price breaks below moving average lines. Meanwhile, on the August 9 downtrend; a retraced candle tested the 61.8% Fibonacci retracement level.

The retracement suggests that BTG will fall to level 1.618 Fibonacci extension or $18.35. BTG is below the 20% range of the daily stochastic. It indicates that the market has reached the oversold region. Buyers are expected to emerge to push prices upward. It is the fourth weakest altcoin for the week. It has the following characteristics:

The current price: $22.75
Market Capitalization: $477,701,569
Trading Volume: $5,908,384
7–day Gain/LOSS %: 11.46%

STEPN
STEPN (GMT) is in a downtrend as price breaks below the moving average lines. GMT has fallen to the low of $0.64. Since June, GMT has been in a range-bound move between $0.53 and $1.10 price levels. The cryptocurrency will trend when the range-bound levels are breached.

Today, the altcoin is consolidating above the $0.64 support. On the downside, if the current support holds, GMT/USD will commence another round of range-bound moves between $0.53 and $1.10 price levels. The altcoin will trend when the range-bound levels are beached. Meanwhile, the altcoin is at level 32 of the Relative Strength Index for period 14. It indicates that GMT is in the downtrend zone but approaches the oversold region of the market. However, GMT is the fifth weakest coin for the week and has the following characteristics:

The current price: $0.674
Market Capitalization: $4,043,866,505
Trading Volume: $110,636,491
7–day Gain/Loss: 10.91

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