After the 5 altcoin projects that filled the pockets of investors in the week from January 14 to January 21, let’s take a look at 7 altcoins that crashed this week. In the list, you can find the price expectations and trend analysis of analyst Valdrin Tahiri.
- Loopring (LRC): -34.57%
- The Sandbox (SAND): – 24.42%
- Internet Computer (ICP): – 23.94%
- Near Protocol (NEAR): – 23.54%
- Chainlink (LINK): – 21.52%
- Dogecoin (DOGE): – 20.60%
- Wither (LEFT): -17.58%
Here are the 7 altcoins that suffered the most this week
The LRC has been falling ever since it hit the ATH price on Nov 10. It has lost 75% of its value so far. On January 21, it broke out of the $1.10 support area that it had been trading above since the beginning of November. The next closest support is at $0.62. If it reaches this level, it will correspond to an 83.50% drop.
Similar to LRC, SAND has also been falling since reaching ATH on November 25. It is now trading just below the 0.618 Fib retracement level at $3.60. If it drops below this area, the next support is at $2.26.
ICP has been falling since September 6. On December 20, the ATH level reached $20.88. However, it soon reclaimed the area and rallied as high as $38.02. Despite the gain, the upward move could not be sustained as ICP once again slumped below the $28 level. Until this level is retracted, the trend cannot be considered bullish.
NEAR has been falling since Jan 14, when the ATH level reached $20.6. So far, it has lost 30.65% of its value and dropped to $13.77 on Jan. 21. There is strong support at $13.30 formed by both the horizontal support area and the ascending support line. Therefore, this area can be expected to initiate a jump.
Except for a divergence on July 10 (red circle), LINK has been trading above the $16.50 horizontal area since May. However, LINK has since been falling and it is once again approaching the $16.50 area. A breach of the zone could trigger a sharp decline, according to the analyst.
Since April 16, DOGE has been trading above the horizontal support area of $0.166. However, it broke down after 265 days, more specifically on January 6. Although it bounced later, it failed to sustain the upward move and now it is back below the $0.166 area. Whether DOGE retraces or rejects this area will likely determine the direction of the future trend.
cryptocoin.com Solana (SOL), which we have included in our analysis, has been falling since reaching its ATH price of $259 on November 6. It is currently trading at $98. It is crucial that the SOL manages to stay above the current support as there is no support below this area until $74.
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