According to crypto analyst Valdrin Tahiri, Nexo (NEXO) has emerged from a descending resistance line. Also, the analyst says UNUS SED LEO (LEO) is trading in a descending wedge. The analyst notes that 1inch Network (1INCH) is following an ascending support line. Valdrin Tahiri takes a look at the five altcoin projects that dropped the most in the past week.
Top losing altcoin Nexo (NEXO): -12.21%
NEXO has been rising since June 18. The price broke out of a descending resistance line on August 10. After confirming as support two days later, the price resumed its bullish action. Then, on August 31, it reached $1.25.
NEXO is falling after being rejected by the $1.20 resistance area (red icon). Therefore, despite the breakout, the trend cannot be considered bullish until NEXO manages to break out of this resistance area.
In second place is Chiliz (CHZ): -10.46%
CHZ has been falling since hitting $0.26 on August 24. The downside move took it as low as $0.182 on Sept. 7. Next, the price bounced off the $0.185 horizontal support area.
![](https://i0.wp.com/kriptokoin.com/wp-content/uploads/2022/09/CHZUSDT_2022-09-09_10-05-53.png?resize=1024%2C470&ssl=1)
It is possible that the previous increase was a five-wave upward move and the current drop is an ABC retracement structure. In this probability, CHZ will continue its upward move to new highs. A break from the resistance line will confirm that this is the correct number.
UNUS SED LEO (LEO) third loser of the week: -7.90%
LEO has been falling in a descending wedge since hitting $8.14 on Feb. More recently, the altcoin was rejected by the wedge’s resistance line on September 1.
![Altcoins](https://i0.wp.com/kriptokoin.com/wp-content/uploads/2022/09/LEOUSD_2022-09-09_10-10-33.png?resize=1024%2C479&ssl=1)
While the technical indicators are neutral, the RSI is at the 50 line. Therefore, considering the descending wedge as a bullish pattern makes it more likely to break.
Fourth altcoin 1inch Network (1INCH): -5.79%
1INCH has been rising since June 18 with an ascending support line. The line has been verified multiple times, most recently on September 7.
![Altcoins](https://i0.wp.com/kriptokoin.com/wp-content/uploads/2022/09/1INCHUSDT_2022-09-09_10-14-10.png?resize=1024%2C479&ssl=1)
Over the past two weeks, the RSI has produced a significant bullish divergence (green line). Therefore, this divergence is likely to be the catalyst for an upside move to the nearest resistance between $0.71 and $0.75.
Last altcoin to lose Decred (DCR): -4.47%
The DCR has been falling below a descending resistance line since December 2021. The line has caused numerous rejections, most recently on August 5 (red icon).
![Altcoins](https://i0.wp.com/kriptokoin.com/wp-content/uploads/2022/09/DCRUSDT_2022-09-09_10-17-43.png?resize=1024%2C479&ssl=1)
Currently, DCR is holding above the horizontal support area of $28. A fault below that will likely take the DCR to new lows. For the most up-to-date and accurate cryptocurrency news and analysis cryptocoin.comDon’t forget to follow
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