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:
FXS price has fallen since reaching a high of $14.69 on Feb. 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 at $8. On the other hand, if the price reclaims the $11.40 resistance area, it could move toward a new all-time high at $15.
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 Feb. 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 Jan. 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 trend’s direction.
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 Jan. 18. It reached a high of $4.74 on Feb. 9. While it fell afterward, it validated the $4 level as support. If the increase continues, the CAKE price could move to $4.90. However, if the price breaks down 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 Feb. 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 CHZ price breaks down.
CHZ/USDT Daily Chart. Source: TradingView
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