cryptocoin.com We are focusing on the most losing altcoin projects of this week. Popular altcoin project Terra (LUNA) stands out among the top five losing cryptocurrencies between March 11-18. Terra (LUNA) is down -14.82% from its March 9 ATH. ANC and DASH created double bottom patterns. Anchor Protocol (ANC) was down -26.63%, while Dash (DAH) was down -7.96%. Of the other two altcoin projects that lost value, Kadena (KDA) fell -16.31%, while Stacks (STX) fell -13.96%.
Bearish values for 5 Altcoins
Anchor Protocol (ANC). ANC has been falling ever since it hit an all-time high of $6.19 on March 5. The downside move has so far dropped to $2.64 on March 15. This confirmed the $2.60 horizontal area as support. After a short bounce, the price returned to the same area on March 18, forming a double bottom formation (green icons) in the process. The double bottom is considered a bullish pattern, meaning that an eventual bullish reversal resulting from this would be the most likely scenario. If one occurs, the nearest resistance seems to be at $3.67.
Kadena (KDA). KDA has been trading inside a symmetrical triangle since January 22. The symmetrical triangle is considered a neutral pattern, meaning both a break and a breakdown can occur. The KDA is nearing the predicted end of this pattern and a decisive move is expected during this time. Whether the price leaves the triangle or not will most likely determine the direction of the future move.
Popular altcoin Terra (LUNA) is also on the list
On March 9, LUNA apparently broke above the $95 resistance area and hit an all-time high of $104.80. However, the upward move could not be sustained and Terra (LUNA) fell below the zone two days later. On March 14, it confirmed this as resistance (red icon) and continued its downward move. The next closest support area is $78. Stacks (STX). STX has been falling with a descending resistance line since Oct. It attempted a breakout on March 19, but was rejected by both the resistance seizure and the $1.85 horizontal resistance area. This created a long upper wick (red icon) and pushed the price down. Until STX manages to break out of both the line and the $1.85 resistance area, the trend cannot be considered bullish.
Dash (DASH)
Dash (DASH). On January 21, DASH broke out of the $118 horizontal support area. Previously, the field has been in place since June 2021. The downside move dropped as low as $80.5 on Jan. 24. Then, DASH reached that level once again on February 24, creating a double bottom pattern in the process. Although this is seen as a bullish pattern, the trend cannot be considered bullish until DASH retraces the $118 area.
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