Render

Wormhole

Worldcoin

Ethena

Time

<ul class="list-ic vertical">
 <li>1 <a>Worldcoin (WLD) plummeted by 17.38%, making it this week’s top loser.&nbsp;</a></li>
 <li>2 <a>Dogwifhat, Ethena, and Render trailed closely, each falling over 10%.</a></li>
</ul>
Despite the broader market upsurge this week, some cryptocurrencies struggled to keep pace and persistently shed value. These underperforming assets lagged behind the overall market’s gains and may continue this trend in the upcoming sessions.
Investors should reassess their holdings, identifying any lagging cryptocurrencies that could potentially erode their portfolio’s value ane consider reallocating investments towards cryptocurrencies that are currently outshining the market.
Let’s figure out this week’s top losers and assess whether they might recover in the forthcoming sessions or if they’re likely to continue their downward trajectory.&nbsp;
<h2 class="wp-block-heading" id="strong-worldcoin-wld-leads-the-top-losers-strong">Worldcoin (WLD) Leads The Top Losers</h2>
Worldcoin (WLD) leads the list of top losers this week, with its value diminishing by more than 17.38%. Trading around $4.96, it has seen a slight intraday recovery of 1.38%. With a current market capitalization of 1.066 Billion, the crypto ranks 80th among all. 
<a href="https://in.tradingview.com/chart/WLDUSD/4A6Wlvku-Worldcoin-WLD-Leads-The-Top-Losers/" rel="noopener noreferrer nofollow"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/" rel="noopener noreferrer nofollow"> </a>&nbsp; <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"> </a> 
Moreover, since mid-March, WLD has been in a downturn and was unable to recoup its losses. The daily chart indicates a consolidation pattern beginning mid-April, hovering around the critical 50-day and 200-day exponential moving averages (EMAs).
At present, the 50-day EMA is acting as a dynamic barrier. Until the crypto hovers below it, the downward trend will likely persist. Conversely, a breakthrough above the 50-day EMA could signal a potential trend shift, possibly leading to gains. However, the risk of further decline remains as long as the cryptocurrency continues its corrective phase.&nbsp;
<h3 class="wp-block-heading" id="strong-dogwifhat-wif-crypto-at-the-risk-of-falling-more-strong">Dogwifhat (WIF) Crypto at the Risk of Falling More?</h3>
Dogwifhat (WIF) crypto comes second on the list of crypto losers this week, with its value dropping by 15.85% and its current trading price at $2.6. The market cap of WIF is roughly $2.59 Billion, and it has seen a trading volume of $751.9 Million. 
<a href="https://in.tradingview.com/chart/WIFUSD/EG4lOZ5d-Dogwifhat-WIF-Crypto-at-the-risk-of-falling-more/" rel="noopener noreferrer nofollow"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/" rel="noopener noreferrer nofollow"> </a>&nbsp; <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"> </a> 
Despite a general uptick in the market, sentiment towards Dogwifhat remains bearish. The daily chart signals a potential bearish flag pattern, which could be confirmed if the intraday candlestick closes beneath the channel’s lower limit.
Support levels are identified at $2.21 and $1.6. For a shift to bullish momentum, the token must overcome the 50-day EMA and the key $3 threshold.
<h3 class="wp-block-heading" id="strong-is-ethena-still-struggling-to-break-out-of-a-falling-wedge-strong">Is Ethena Still Struggling to Break Out of a Falling wedge?</h3>
Ethena (ENA) crypto has seen a drastic reduction, shedding over half of its value since reaching a peak in early April. Ranking third in weekly losses, it has dropped over 12%. After an initial surge, ENA has entered a steep decline.
Currently, ENA is undergoing a correction, with the daily chart displaying a falling wedge pattern. The <a href="https://www.thecoinrepublic.com/2024/05/04/paypal-users-can-now-purchase-cryptocurrency-using-moonpay/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> has lost nearly 50% and currently lacks indications of a rebound. 
<a href="https://in.tradingview.com/chart/ENAUSD/nuzm1Uv4-Ethena-Still-Struggling-to-break-out-of-a-Falling-wedge/" rel="noopener noreferrer nofollow"> </a>&nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/" rel="noopener noreferrer nofollow"> </a>&nbsp; <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"> </a> 
For a positive trend reversal, it’s crucial for buying pressure to build and push the price beyond the $0.918 resistance level. Conversely, if the price remains below the upper trendline of the wedge, further declines could be on the horizon.
<h3 class="wp-block-heading" id="strong-render-looks-strong-despite-being-a-top-loser-strong">Render Looks Strong Despite Being a Top Loser</h3>
Render (RNDR) finds itself among the week’s notable crypto decliners, having fallen by 10.1%, now priced at $10.10. With a market cap of $3.92 Billion, it occupies the 27th spot in the overall crypto market ranking.
Despite being the fourth largest loser this week, Render’s market behavior suggests an impending upturn. The cryptocurrency has emerged from a downward channel pattern, signaling a potential conclusion to its recent downward trend. Currently, it appears to be in a retracement phase, potentially gearing up for an upward trajectory. 
<a href="https://in.tradingview.com/chart/RNDRUSD/zX2GKkQT-Render-Looks-Strong-Despite-Being-A-Top-Loser/" rel="noopener noreferrer nofollow"> </a> <a href="https://in.tradingview.com/u/Ritika_TCR/" rel="noopener noreferrer nofollow"> </a>&nbsp; <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"> </a> 
The immediate challenge for investors is the $11.3 resistance level. Overcoming this could pave the way for a 25% increase in value, potentially reaching yearly peaks and possibly extending gains further.
<h3 class="wp-block-heading" id="strong-can-wormhole-show-recovery-next-week-strong">Can Wormhole Show Recovery Next week?</h3>
Wormhole, currently exchanging hands at $0.566, has experienced a notable drop of about 9.8% this week. Since its debut a month ago, the cryptocurrency has been on a downward trajectory. It has plummeted over 64% from its peak value, teetering on the brink of falling below its record low. 
<a href="https://in.tradingview.com/chart/WUSD/PcuU7nlL-Can-Wormhole-Show-recovery-Next-week/" rel="noopener noreferrer nofollow"> </a> &nbsp; <a href="https://in.tradingview.com/u/Ritika_TCR/" rel="noopener noreferrer nofollow"> </a> &nbsp; <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"> </a> 
Technically, Wormhole has breached a bearish flag pattern, suggesting further declines may be ahead. However, the last few trading sessions have shown some resilience, returning from the critical $0.5 support level.&nbsp;
The Relative Strength Index (RSI) stands near 38.8 points, while the Simple Moving Average (SMA) is at 37.16 points. Both indicators are below their respective average lines, signaling a continued bearish sentiment.
<h5 class="wp-block-heading">Disclaimer</h5>
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Top 5 Crypto Flops This Week: Time To Upgrade Your Portfolio?

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