These Are the 5 Altcoins Struggling to Keep up With the Crypto Market

BeInCrypto looks at five altcoins that decreased the most from the entire crypto market this week, specifically from February 10 – 17.

The altcoins that have fallen the most from the entire crypto market are:

  1. Frax Share (FXS) price fell by 14.04%
  2. NEO (NEO) price fell by 5.12%
  3. Osmosis (OSMO) price fell by 1.75%
  4. PancakeSwap (CAKE) price fell by 1.73%
  5. Chiliz (CHZ) price fell by 0.63%

Frax Share (FXS) Price Leads Crypto Market Losers

FXS price has fallen since reaching a high of $14.69 on February 9. The downward movement caused it to fall below the $11.40 resistance area. Therefore, the previous breakout is considered a deviation. 

If the decrease continues, the closest support area would be $8. On the other hand, if the price of Frax Share reclaims the $11.40 resistance area, it could move toward a new all-time high at $15, catching up with the rest of the crypto market.

FXS/USDT Daily Chart. Source: TradingView

NEO (NEO) Price Struggles With Resistance

NEO price has fallen below a descending resistance line since June 2022. More recently, the line caused a rejection on February 13 (red icon), creating a very long upper wick. 

If the decrease continues, the NEO price can fall to $7.60. 

However, if the price breaks out, it could increase to the next resistance at $12.20.

NEO/USDT Daily Chart. Source: TradingView

Osmosis (OSMO) Price Returns to Support Line

OSMO price has increased alongside an ascending support line since Jan. 6. The upward movement led to a high of $1.26 on January 29.

Nonetheless, the price of Osmosis has fallen since, following a descending resistance line. This creates a symmetrical triangle whether the OSMO price breaks out or down will likely determine the future direction of this crypto’s trend.

A breakout could lead to highs near $1.10, while a breakdown could lead to a fall toward $0.80.

OSMO/USDT Daily Chart. Source: TradingView

PancakeSwap (CAKE) Price Attempts to Find Support

CAKE price broke out from a descending resistance line on January 18. It reached a high of $4.74 on February 9. While it fell afterward, it validated the $4 level as support. If the increase continues, CAKE price could move to $4.90. However, if the price of PancaSwap breaks below $4, a fall to $3.20 could follow.

CAKE/USDT Daily Chart. Source: TradingView

Chiliz (CHZ) Price Breaks Down Despite Altcoin Season

CHZ price broke down from an ascending support line at the beginning of Dec. 2022. Afterward, it increased and validated it as resistance on February 8 (red icon).

Currently, the price of Chiliz is trading just above the $0.135 horizontal support area. If it bounces, it could reach the support line again at $0.19. However, a fall toward $0.085 could follow if the CHZ price breaks down.

CHZ/USDT Daily Chart. Source: TradingView

For BeInCrypto’s latest crypto market analysis, click here.

Disclaimer

BeInCrypto strives to provide accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. You comply and understand that you should use any of this information at your own risk. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.

Bookmark (0)
ClosePlease loginn

Related Posts

Bitcoin: The Best Performing Asset Class in Q1 2023

Bitcoin set for its best trading quarter in nearly 2-years.
The top cryptocurrency vastly outpaces stocks performance.
BTC is well placed for more gains in Q2 2023.

Bookmark (0)
ClosePlease loginn

USDC Supply Shrinks by $10 Billion in March, But Hits 6-Month High on Smart Contracts

USDC supply declined by $10 billion in March following its exposure to the US banking crisis.
However, the stablecoin use on smart contracts reached a six-month high of 42.08%.
Tether USDT is now the dominant stablecoin, accounting for over 60% of the market.

Bookmark (0)
ClosePlease loginn

Bittrex Quits US, Cites Unfavorable Regulatory Environment

Crypto exchange Bittrex said it was leaving the United States because of the regulatory environment.
The crypto company had had previous skirmishes with financial regulator in the country.
Crypto stakeholders have warned that the US regulatory landscape would force many firms out of the country.

Bookmark (0)
ClosePlease loginn

Solana overcomes FTX fiasco — SOL price gains 100% in Q1

The cryptocurrency market may have overreacted to Solana’s FTX links and its tainted boss, Sam Bankman-Fried.

Bookmark (0)
ClosePlease loginn

Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report

The plaintiff’s brought up Musk’s Saturday Night Live appearance in 2021, where he portrayed “a fictitious financial expert” and called Dogecoin “a hustle,” resulting in a steep price decline minutes later.

Bookmark (0)
ClosePlease loginn

Here’s how the crypto industry is using artificial intelligence

The rise of artificial intelligence, though in its early stages, has found use cases in crypto through countless projects.

Bookmark (0)
ClosePlease loginn

Leave a Reply

Your email address will not be published. Required fields are marked *