Crypto.com Coin (CRO) 55% Off ATH – 7 Biggest Losers Of The Week.
CoinCu will look at the seven altcoins that have fallen the most over the past seven days, from January 7th to January 14th to be precise.
These altcoins are:
- Raven Coin (RVN): -16.71%
- Helium (HNT): -15.35%
- Loop Ring (LRC): -14.51%
- Cosmos (ATOM): -12.52%
- Decentralized (MANA) : -8.03%
- Filecoin (FIL): -7.56%
- Crypto.com Coin (CRO): -5.88%
RVN has been falling since August along with a descending resistance line, resulting in a low of $0.064 on Dec 4th.
However, the token reached this zone again soon after and has been moving ever higher ever since. This is a bullish development that usually precedes a trend reversal to the upside.
After a rejection by the resistance line, RVN returned to the $0.09 area on Jan 10 and recovered.
A break above the resistance line can greatly accelerate the upside move.
Daily RVN/USDT chart | Source: TradingView
On Dec 17, HNT broke above a descending resistance line. The price returned three days later to confirm it as support (green icon) and continued its upward move from there.
The price peaked at $45.16 before turning lower. The high was created right at the 0.5 Fib retracement resistance.
After that, the token returned to the $32 area and confirmed it as support. It is possible for the price to initiate a jump out of this zone.
HNT/USDT daily chart | Source: TradingView
LRC has been falling since November 10th when it hit an all-time high of $3.86. The downtrend so far has gone as far as $1.38 which was reached on Jan 11th.
The decline takes the form of a descending wedge, which is considered a bullish pattern. Furthermore, the token bounced off the $1.45 zone.
If there is a rebound, the next resistance is $2.62. This is the 0.5 Fib retracement resistance.
LRC/USDT daily chart | Source: TradingView
ATOM has been trading along a descending resistance line since September 20, when it hit an all-time high of $44.8. While it initially looked like the token broke out on Jan. 6, the price dipped back below and reconfirmed the line as resistance.
A breakout above the street would take the token to a new all-time high.
ATOM/USDT daily chart | Source: TradingView
MANA has been falling since hitting an all-time high on November 25th.
On Jan 10, the price broke below the $3 horizontal support area and confirmed it as resistance (red icon) two days later.
Until this zone is restored, the trend cannot be considered bullish.
6 Hour MANA/USDT Chart | Source: TradingView
FIL has fallen since September 5th. It broke below a descending wedge and horizontal zone of $44 on Dec 4, accelerating its decline.
So far, the price has hit a low of $26.32 on Jan. 10th. The next support zone is at $22.
Until the $44 zone recovers, the trend cannot be considered bullish.
Daily FIL/USDT chart | Source: TradingView
CRO has been down since hitting an all-time high of $0.97 on Nov. 24. The move down so far has taken it as low as $0.36 on Dec 4th.
The token was recovering back then, but is still trading 55% below the aforementioned all-time high.
However, CRO is trading just above the $0.42 support area, which is the 0.618 Fib retracement support. There is also horizontal support at $0.32.
Daily CRO/USDT chart | Source: TradingView
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
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