5 Altcoins That Failed to Take Advantage of the Bullish Crypto Market

BeInCrypto takes a look at the five biggest altcoins in the entire crypto market this week, specifically March 17 to 24.

Cryptocurrency prices that have fallen the most in the entire altcoin market:

  1. The price of Kava (KAVA) declined by 15.90%.
  2. immutable (imx) price fell by 14.98%
  3. Huobi Token (HT) price dropped by 14.12%
  4. The price of Cosmos (ATOM) declined by 12.09%
  5. Toncoin (TON) price dropped by 11.97%

Kava (KAVA) crypto price altcoin market loser

The price of KAVA has fallen since March 14. The decline confirmed the divergence above the $1.06 resistance area. Such divergence is considered a sign of a bearish trend. The decline has followed a descending resistance line.

As long as the price follows this line, a decline towards the $0.80 horizontal support area is expected.

On the other hand, a breakout from the line could propel it towards $1.06.

Kava (Kava) Price Movement
Kava/usdt daily chart. Source: TradingView

Irreversible (IMX) crypto price is falling below the risk breakout level

IMX price broke above the $1.22 resistance area on March 17. It appears that an upward movement started above the resistance zone that existed since June 2022.

However, the price declined after reaching a new yearly high of $1.59 on 18 March. It is now once again trading below the $1.22 resistance area.

If the decline continues, the next closest support area will be at $0.85. However, if the crypto asset reclaims the $1.22 area, it could again move towards $1.55.

Immutable (IMX) price drop
IMX/USDT Daily Chart. Source: TradingView

Huobi Token (HT) Price Gets Rejected

HT price has been falling below a descending resistance line since Nov 2022. Most recently, it was rejected by the line on February 20, starting the current decline.

Although the price bounced sharply after the low of $1.23 on March 9, it failed to move above the $4.20 resistance area. If the decline continues, HT could return to $1.23.

However, if the digital asset reclaims the $4.20 area, it could move higher towards the descending resistance at $5.

Huobi Token (HT) Price Resistance
HT/USDT Daily Chart. Source: TradingView

Has Cosmos (ATOM) completed the correction?

ATOM price has been falling below a descending resistance line since September 2022. Most recently, the line caused rejection on February 4, 2023. Later, Price completed the ABC corrective structure.

After bouncing above the $10.30 horizontal support area, ATOM started another upward movement.

If the rise continues, the price could move towards the long-term resistance line at $14.

However, if it closes below $10.30, ATOM could decline to the next support at $8.90.

Cosmos (ATOM) crypto price resistance
ATOM/USDT Daily Chart. Source: TradingView

Toncoin (TON) sprung on support

Technical analysis on the daily time frame shows that TON price has been slowly declining since hitting a high of $2.90 on December 14. The decline ended with a low of $1.87 on March 23.

However, the price bounced back, validating the $2 horizontal support area and an ascending support line (green icon). Whether the price bounces or breaks down may determine the future trend.

A breakdown could trade lower near $1.40, while the upside could retest the $2.60 resistance area.

Toncoin (TON) Crypto Market Altcoin Bounce
MTS/USDT Daily Chart. Source: TradingView

For the latest crypto market analysis from BeInCrypto, click here.


BeInCrypto endeavors to provide accurate and up-to-date information, but shall not be responsible for any missing facts or incorrect information. You comply and understand that you should use any of this 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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