BeInCrypto looks at five altcoins that decreased the most from the entire crypto market this week, specifically from Jan. 20 to 27.
These popular altcoins have stolen the crypto news and crypto market spotlight:
- SingularityNET(AGIX) price decreased by 18.95.%
- Helium (HNT) price decreased by 5.22%
- Casper (CSPR) price decreased by 4.78%
- Bone ShibaSwap (BONE) price decreased by 2.03%
- Kyber Network Crystal v2 (KNC) price decreased by 1.98%
SingularityNET Leads Crypto Market Altcoin Losers
The AGIX price increased by 460% between Jan. 1 and Jan. 14. This led to a new all-time high of $0.258.
However, the price created a long upper wick (red icon) the same day and has fallen since.
If the downward movement continues, the crypto asset could fall to the 0.5-0.618 Fib retracement support levels at $0.121-$0.147. On the other hand, a bullish reversal would likely lead to a re-test of the highs at $0.258.
Helium Price Finally Clears Resistance
After three unsuccessful breakout attempts (red icons), the HNT price finally moved above a descending resistance line on Jan. 5. The breakout led to a high of $3.46 on Jan. 17. The digital asset has fallen since.
If the decrease continues, the closest support area would be between $2.33-$2.48, created by the 0.5-0.618 Fib retracement support levels (white).
On the other hand, the continuation of the upward movement could lead the HNT price to the 0.618 Fib retracement resistance level at $4.19.
The CSPR price has increased alongside an ascending support line since June 19. The line has been validated six times so far.
After the most recent bounce on Jan. 7, the Casper price began an upward movement and reached a high of $0.042. However, it failed to break out from the $0.038 resistance area, instead creating a long upper wick (red icon).
If the downward movement continues, the altcoin could validate the ascending support line again. The line is currently at $0.030.
On the other hand, a breakout from the $0,038 resistance area could lead to a high near $0.050.
Bone ShibaSwap Validates Important Level
The BONE price has increased alongside an ascending support line since Nov. 13. On Jan. 16, the price broke out from the $1.25 horizontal resistance area and validated it as support nine days later (green icon).
The trend remains bullish as long as the BONE price does not close below $1.25. Therefore, the continuation of the upward movement toward $2 is expected.
On the other hand, a close below $1.25 could trigger a fall to the ascending support line at $1.
Kyber Network Crystal v2 (KNC) Trades in Horizontal Range
The KNC price has increased rapidly since the beginning of the year. On Jan. 18, it broke out above the $0.73 resistance area but has not validated it as support yet.
Whether the KNC price breaks down from or bounces at the $0.73 horizontal area can determine the trend’s direction. A bounce would lead to an upward movement toward $0.96, while a breakdown could lead to a fall to $0.63.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
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