5 Altcoins That Failed to Capitalize on the Bullish Crypto Market
BeInCrypto looks at five altcoins that fell the most from the entire crypto market this week, specifically from 10 – 17 February.
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%
- The price of osmosis (OSMO) fell by 1.75%
- PancakeSwap price (CAKE) down 1.73%
- Chiliz (CHZ) price fell by 0.63%
Frax Share (FXS) rates lead crypto market losers
The FXS price has fallen since hitting a high of $14.69 on February 9. The downward move saw it drop below the $11.40 resistance area. Therefore, the previous breakout is considered a deviation.
If the decline continues, the nearest support area will be $8. On the other hand, if the price of Frax Share regains the resistance area of $11.40, it could move towards a new all-time high of $15, catching up with the rest of the crypto market.
NEO (NEO) Price fights with resistance
NEO price has been falling below a descending resistance line since June 2022. Recently, the line caused a rejection on February 13 (red icon), creating a very long upper wick.
If the decline continues, the NEO price could fall to $7.60.
However, if the price breaks out, it could rise to the next resistance at $12.20.
Osmosis (OSMO) Price returns to support line
The OSMO price has increased along with a rising support line since January 6. The upward movement led to a high of $1.26 on January 29.
Nevertheless, the price of Osmosis has since fallen, 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 drop towards $0.80.
PancakeSwap (CAKE) Price attempts to find support
CAKE price broke out from a descending resistance line on January 18. It hit a high of $4.74 on February 9. While it fell afterwards, it validated the $4 level as support. If the increase continues, the CAKE price could move to $4.90. However, if the price of PancaSwap breaks below $4, a drop to $3.20 could follow.
Chiliz (CHZ) Price Crashes Despite Altcoin Season
CHZ price broke down from a rising support line in early December 2022. Afterwards, it rallied and validated it as resistance on February 8 (red icon).
Currently, the price of Chiliz is trading just above the horizontal support area of $0.135. If it bounces, it could reach the support line again at $0.19. However, a drop towards $0.085 could follow if the CHZ price breaks down.
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 missing facts or inaccurate information. You comply and understand that you should use all such information at your own risk. Cryptocurrencies are highly volatile financial assets, so do your research and make your own financial decisions.
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