The new year has started positively for most altcoins, but last week’s losers are predominantly trend projects. In this article, let’s examine the 5 altcoins that suffered the most in the week of January 27 – February 3, with technical analysis by analyst Valdrin Tahiri.
- ApeCoin (APE): -7.76%
- Aptos (APT): -5.47%
- eCash (XEC): -4.56%
- Lido DAO (LDO): -4.49%
- Quant (QNT): -3.47%
ApeCoin (APE), last week’s redboard leader
APE price has been rising since November 14, 2022, when it diverged below the $3.40 horizontal area (red circle). Retraced the area after short breakout and confirmed as support (green icon) on 17 Dec. It then broke out of a descending resistance line and retraced both the $4.45 and $5.75 resistance levels. It is currently struggling to hold above the $5.75 horizontal support area.
If it succeeds, the next resistance is at $7.60. On the other hand, a breakout could lead to a decline towards the $4.45 zone, which is currently expected to provide support. Analyst Valdrin Tahiri states that Apecoin, which is currently trading just under $6, will support critical supports in the $5.75 and $4.45 regions.
Aptos (APT) moves sideways after recent altcoin bull
APT price has been on the decline since the beginning of the year, reaching as high as $20.40 on January 26. The price action coincided with a 495% increase since Jan 1st. However, the price has since dropped and formed a double top formation in the process. The double top is considered bearish and is combined with long upper wicks (red icons) to support its validity.
As a result, the most likely look for a future move is a drop towards the $13.75 horizontal support area, which is also the 0.382 Fib retracement support level. On the other hand, a move above $20.40 could send APT price to the next resistance at $28.80.
eCash (XEC) continues to trade in a narrow range
On January 22, XEC price broke out of a descending resistance line and reached $0.000045 four days later. On the same day, it was rejected from the $0.000045 resistance area and formed a long lower wick. If the downside continues, the nearest support area is at $0.000032. On the other hand, if the altcoin regains momentum, it could test the $0.000045 area once again.
Lido DAO (LDO) reaches ATH in altcoin bull, now seeing correction
LDO price has been rising since November 9, when it confirmed a resistance line (green icon) from which it emerged. Then, on December 18, it completed the double bottom formation and accelerated its rise. So far, it has reached $2.83 on Jan. 24. However, the price created a long bearish wick and has since fallen. It is currently at risk of falling below the 0.618 Fib retracement resistance level at $2.26.
If so, LDO price could decline to the $1.68 support area. On the other hand, a recovery of the 0.618 Fib level could lead to a retest of the ATH levels near $2.90.
Quant (QNT) exited the corrective channel
The QNT price has been rising since November 15. It bounced on the support line of an ascending parallel channel (green icon) on Dec. He then debuted on the channel on January 20. Currently, the price is trying to confirm the resistance line of the channel as support (green circle).
If it succeeds, it could exit the $161 resistance area and move towards $220. On the other hand, a drop in the channel could send the QNT price to the support line of the channel at $110.
Meanwhile, the trending projects of recent months dropped around 5% in the week of January 27 – February 3, while the leading crypto Bitcoin continues its momentum. At the time of writing, it was managing to maintain its position in the 23,500 region. cryptocoin.com We have included Bitcoin price predictions in this article.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.