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:
- Frax Share (FXS) price fell by 14.04%
- NEO (NEO) price fell by 5.12%
- Osmosis (OSMO) price fell by 1.75%
- PancakeSwap (CAKE) price fell by 1.73%
- 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.
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.
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.
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.
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.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
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