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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.