After reviewing the green board record holders of the week, let’s list the 7 most losing altcoin projects of the week of January 7-14. Analyst Valdrin Tahiri identifies critical support levels at which prices may react up.
- Ravencoin (RVN): -16.71%
- Helium (HNT): -15.35%
- Loopring (LRC): -14.51%
- Cosmos (ATOM): -12.52%
- Decentraland (MANA): -8.03%
- Filecoin (FIL): -7.56%
- Crypto.com Coin (CRO): -5.88%
Here are the most damaging altcoin projects of the week
The RVN has been falling with a descending resistance line since August. The downside momentum deepened to $0.064 on Dec. It then caused a divergence below the $0.09 horizontal support line. However, he reclaimed the line shortly after and has been moving upwards ever since. A break above the resistance line could greatly accelerate the bullish momentum.
On December 17, HNT broke out of a descending resistance line. It bounced back three days later (green icon) to confirm as support and then resumed its upward move. Later, the token returned to $32 and confirmed as support. According to the analyst, a bounce from the region can be expected.
cryptocoin.com Loopring (LRC), which we have included in our analysis, has been falling since November 10, when the ATH level reached $ 3.86. If a bounce occurs from the strong support below, the nearest area of resistance is $2.62.
ATOM has been following a descending resistance line since Sept. 20, when ATH reached $44.8. Although it initially looked like it broke out on January 6, it fell below and confirmed the line as resistance once again. A break above the line could lead the bulls to the ATH level.
MANA has been declining since reaching ATH on November 25. It broke out of the $3 horizontal support area on Jan 10 and confirmed as resistance two days later (red icon). Until this area is recovered, the trend cannot be considered bullish.
Filecoin (FIL) has been falling since Sept. It broke from a descending wedge and the $44 horizontal area on Dec. 4, accelerating the bearish rate. So far, it has dropped to $26.34 by doing so on Jan 10. The closest support area is the $22 zone.
The CRO has been falling since ATH hit $0.97 on Nov. 24. The downside move has deepened to $0.36 on December 4th so far. However, the CRO is trading just above the $0.42 support area. The strongest support is the horizontal support line at $0.32.
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