5 Cryptos That Dropped Despite a Bullish Altcoin Market


BeInCrypto takes a look at the five biggest altcoins in the entire crypto market this week, specifically March 10 to 17,

The altcoins that fell the most in the entire altcoin market are:

  1. Bone ShibaSwap (BONE) decreased in price by 16.91%
  2. Helium (HNT) price has decreased by 15.35%
  3. Maker (MKR) has decreased by 6.24%
  4. Flair (FLR) declined by 4.92%
  5. Core (Core) price has decreased by 3.04%

Bone ShibaSwap (BONE) Crypto Price Leads Altcoin Market Losers

Bone price has declined since it was rejected by the $1.95 resistance area in early March (red circle). Initially, the price bounced towards the $1.45 horizontal support area. However, it broke from it on 16 March.

Currently, the digital asset is trading just above the 0.618 Fibonacci retracement support at $1.17. If it bounces, it could test the $1.45 area again. However, if there is a breakdown, BONE price may drop to $0.60.

Bone ShibaSwap (BONE) Altcoin Price Range
BON/USDT Daily Chart. Source: TradingView

Helium (HNT) drops to new year low

HNT price has been falling below the descending resistance line since late February. The line has caused several disclaimers, most recently on 14 March (red icon). This led to a decline to the $1.60 horizontal support area.

If the price breaks this area, it could drop to $1. However, if HNT price bounces, it may once again reach the resistance line.

Helium (HNT) crypto price decrease
HNT/USDT Daily Chart. Source: TradingView

Maker (MKR) price trades in a lower range

Maker (MKR) price has been trading between $675 and $950 since the beginning of February. Recently, it was rejected from the March 14 higher range (red icon) and started the current downward movement.

If the price bounces higher, it could move up to the 0.618 Fibonacci retracement resistance at $833. However, if it breaks down, it could drop further towards $475.

Manufacturer (MKR) Price Range
MKR/USDT Daily Chart. Source: TradingView

Flair (FLR) price has hit an all-time low

The FLR price has been falling below a descending resistance line since Jan 29. This line caused a rejection on February 20, accelerating the rate of decrease.

The cryptocurrency fell to a new all-time low of $0.025 on March 15. Since there is no support below that price, a draw below the level could accelerate the rate of decline even further, taking FLR in search of a bearish price.

On the other hand, if there is an upside rally, the FLR could rise towards the $0.034 resistance area.

Flare Network (FLR) crypto resistance line
FLR/USDT Daily Chart. Source: TradingView

Huobi Token (HT) Crypto Loses Major Support

On March 9, HT price declined below the $4.20 horizontal support area. Currently, it is in the process of validating it as resistance.

If successful, a drop to $1.50 is possible. On the other hand, if HT price reclaims the $4.20 area, it could rise towards the descending resistance at $5.25.

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

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

disclaimer

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.



Source link

Leave a Comment