FTT, CRV, AR, APT and HT suffer the biggest falls in the crypto market

BeInCrypto takes a look at five projects that underperformed the crypto market last week, specifically from November 4th to November 11th.

These digital assets have performed even worse than the rest of the crypto market and have taken the spotlight in the crypto news:

1. The price of FTX Token (FTT) fell by 86%.
2. Curve DAO Token (CRV) price dropped by 32.13%
3. Arweave (AR) price decreased by 31.98%
4. Aptos (APT) price fell by 30.28%
5. Huobi Token (HT) price fell by 30.28%

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FTT price leads to collapse in crypto market

On November 8, FTT price broke down from the $24 support area. Previously, the area had been in place since June 2021.

The collapse was swift and led to a low of $2.01 after three days. Afterwards, the price bounced at the final support area to $2.20. Despite the bounce, technical indicators are bearish. The RSI is declining, is below 50 and is in oversold territory.

So far, the FTT price has fallen by 86%.

A break below the $2.20 support area would take the FTT price to a new all-time low. Conversely, if the bounce continues, there will be resistance at $9.

CRV price creates double bottom pattern

CRV has been sinking inside a descending parallel channel since July 28. The downward movement led to a low of $0.52 on November 9. The low served to validate the horizontal support area at $0.42 and the support pawn of the channel.

Additionally, it is possible that the CRV price made a double bottom, considered a bullish pattern. As a result, it is possible that the area will initiate a bounce.

However, the daily RSI is declining and is below 50, casting doubt on the possibility of an upward movement and breakout from the channel.

So whether the CRV price breaks out of the channel or breaks down below the $0.42 area will determine the direction of the future trend.

The AR price jumps on Diagonal Support

The AR price has followed a rising support line since June 18. During this time, the $16.50 area acted as resistance, causing five rejections (red icons).

On November 10, AR reached the support line and started a small bounce in the last 24 hours. However, the daily RSI is in danger of breaking down from its bullish divergence trendline.

If the daily RSI breaks down from its bullish divergence trendline (green line), a break from the support area would be expected.

The APT price does not break out

On November 11th, the APT apparently broke out of a descending resistance line that had been in place since November 6th. However, it was unable to sustain its upward movement and fell below the line shortly afterwards.

Such deviations are often followed by significant downward movements.

If the downward movement continues, the nearest support levels will be $2.90 and $2.21, created by 1.27 and 1.61 external Fib retracement support levels (white).

Conversely, a recovery of the line would be a bullish indicator.

The HT price coincides with the crypto market

HT has been falling since hitting a high of $9.57 on October 26. The downward movement led to a low of $5.50 on November 11. Furthermore, it caused a breakdown below the $7.40 area, which is now expected to act as resistance.

The closest support area is at $5.50. Therefore, the most likely scenario suggests that HT will create a range between these two levels.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.