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:
- The price of Kava (KAVA) declined by 15.90%.
- immutable (imx) price fell by 14.98%
- Huobi Token (HT) price dropped by 14.12%
- The price of Cosmos (ATOM) declined by 12.09%
- 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.
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.
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.
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.
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.
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