BeInCrypto looks at the eight altcoins that have fallen the most in the last seven days, from May 21 to May 28
Here are these altcoins:
- Terra (LUNA) −40.95%
- Huobi Token (HT) −36,35%
- Waves (WAVES) −36,17%
- OKB (OKB) −33,62%
- Revain (REV) −29,35%
- Compound (COMP) −28,51%
- Solana (SOL) −27,32%
- Internet Computer (ICP) −26,50%
LUNA has been declining since March 21, after hitting a historic high at $22.40. The drop continued until April 23, when the price reached the level of $3.91. In the aggregate, the coin fell by 82.5% in 63 days.
Since then, LUNA has recovered, confirming the $5.50 level as support. However, it has yet to return to the area above the horizontal support zone.
The key resistance is at $11.75. This target coincides with the 0.5 Fibonacci retracement.
The HT token peaked on May 13 at $39.31, and the price has been moving on a downward trajectory ever since. The drop was quite sharp, with prices testing a low of May 24 in the $10.76 area. Thus, for 11 days, the coin has fallen in price in the aggregate by 73%.
As with LUNA, the price tested $13.00 as support. After the rebound, HT is trying to return to the $13 level to test it as support.
WAVES peaked on May 4 at $41.86. Since then, the price has been moving on a downward trajectory. The drop lasted 19 days, as a result, on May 23, the price reached a low of $11.68. In the aggregate, the coin fell by 72%.
WAVES bounced back from the ascending support line that has been forming since the beginning of the year. However, the price may go lower again.
The main resistance area is located at $23.20.
The OKB token updated the historical high of May at $44.35 and then rushed down. In 16 days, the coin lost 78.35% of its value, going down to$9.60/
The decline led to a breakout of the ascending support line.
After an unsuccessful rebound, the OKB price approached the lows of May 19.
Now this line passes near $20 and serves as a resistance. The nearest horizontal support is in the $8 area.
The REV peaked on May 10 at $0.062 and has been declining rapidly since then. The fall was sharp. The coin fell by 82.25%.
REV is back in the support area. $0.0115, where it traded for most of 2020 and the first half of 2021.
The key resistance is at $0.04.
COMP RVN hit a historic high on May 12 at $911. Then the fall began, which lasted 11 days. As a result, on May 23, the price tested the low at $267.55. In total, the coin fell by more than 70%.
COMP corrected from the local minimum. The coin may gain a foothold above the $340 support. If it succeeds, we can count on the resumption of bullish dynamics.
In this case, the nearest resistance will be at $590.
SOL has been declining since May 18, after testing $53.38. The decline lasted for five days, as a result, on May 23, the price reached a low at $19.10. Thus, the cumulative drop was 67.25%.
Then the SOL price corrected and is now trying to return to the area above $29.50.
If it succeeds, it is possible to increase to the resistance of $42.50. The nearest support is in the area of $21.50.
ICP reached a historic high on May 19 at $92. After that, it rose sharply and reached $224 the next day. However, then the fall resumed.
Today, the token reached support at $111. A break below will open the way to new historical lows. There is no clear price pattern.
Here you can read the latest technical analysis on Bitcoin (BTC).
The post Outsiders of the week: LUNA, HT, WAVES, OKB, REV, COMP, SOL, ICP – give up or buy at the bottom appeared first on BeInCrypto.