5 Altcoins That Failed to Capitalize on the Bullish Crypto Market
BeInCrypto looks at five altcoins that fell the most from the entire crypto market this week, specifically from 10 – 17 February.
The altcoins that have fallen the most from the entire crypto market are:
- Frax Share (FXS) price fell by 14.04%
- NEO (NEO) price fell by 5.12%
- The price of osmosis (OSMO) fell by 1.75%
- PancakeSwap price (CAKE) down 1.73%
- Chiliz (CHZ) price fell by 0.63%
Frax Share (FXS) rates lead crypto market losers
The FXS price has fallen since hitting a high of $14.69 on February 9. The downward move saw it drop below the $11.40 resistance area. Therefore, the previous breakout is considered a deviation.
If the decline continues, the nearest support area will be $8. On the other hand, if the price of Frax Share regains the resistance area of $11.40, it could move towards a new all-time high of $15, catching up with the rest of the crypto market.
NEO (NEO) Price fights with resistance
NEO price has been falling below a descending resistance line since June 2022. Recently, the line caused a rejection on February 13 (red icon), creating a very long upper wick.
If the decline continues, the NEO price could fall to $7.60.
However, if the price breaks out, it could rise to the next resistance at $12.20.
Osmosis (OSMO) Price returns to support line
The OSMO price has increased along with a rising support line since January 6. The upward movement led to a high of $1.26 on January 29.
Nevertheless, the price of Osmosis has since fallen, following a descending resistance line. This creates a symmetrical triangle whether the OSMO price breaks out or down will likely determine the future direction of this crypto’s trend.
A breakout could lead to highs near $1.10, while a breakdown could lead to a drop towards $0.80.
PancakeSwap (CAKE) Price attempts to find support
CAKE price broke out from a descending resistance line on January 18. It hit a high of $4.74 on February 9. While it fell afterwards, it validated the $4 level as support. If the increase continues, the CAKE price could move to $4.90. However, if the price of PancaSwap breaks below $4, a drop to $3.20 could follow.
Chiliz (CHZ) Price Crashes Despite Altcoin Season
CHZ price broke down from a rising support line in early December 2022. Afterwards, it rallied and validated it as resistance on February 8 (red icon).
Currently, the price of Chiliz is trading just above the horizontal support area of $0.135. If it bounces, it could reach the support line again at $0.19. However, a drop towards $0.085 could follow if the CHZ price breaks down.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
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