BeInCrypto Take a look at the five projects that dumped the most in the crypto market over the past week, specifically, from October 14 to October 21.
These are the worst performing cryptocurrencies in the crypto market over the past week:
- Axie Infinity (AXS) down 22.12%
- EthereumPoW (ETHW) price is down 20.48%
- Terra Classic (LUNC) price down 17.19%
- Ethereum Name Service (ENS) price 17.84 . is below
- Aptos (APT) price down by 15.76%
Axie Infinity AXS Price Prediction: Drops to New Year’s Low
The price of AXS has been declining since reaching an all-time high of $166.09 in November 2021. The downside movement led to a low of $8.80 in October 2021.
The lower minimum represents a new annual value. Moreover, it reached the $8.70 horizontal support area, which it has not previously reached since June 2021.
Although a rally is expected in the area, the weekly RSI is still bearish, leaving some skeptical as to whether a bounce will occur.
A weekly close below this area indicates that AXS price could decline towards $3.70.
Conversely, a bounce back and the formation of a long lower wick would be bullish signals that support the bottom formation.
EthereumPoW ETHW Price Prediction: Close to Important Support
ETHW has been declining in a descending parallel channel since reaching the September 24 high of $13.89.
While descending parallel channels usually have corrective momentum, there are no signs of a bullish reversal. Furthermore, the price is trading inside the lower side of the channel, reducing the chances of a successful breakout.
The nearest support area is $5.50. Whether ETHW price breaks below this or bounce will determine the direction of the future trend.
Terra Luna Classic LUNC Price Prediction: Upside Correction Completes
LUNC completed an ABC corrective structure (black) between September 25 and October 2. The movement moved to a high of $0.00037 (red sign) before being rejected by LUNC. Since the corrective structure has moved upwards, it means that the underlying trend is to the downside.
Since the October 2 high, LUNC has been declining below a descending resistance line. The price has already declined below the 0.618 Fibonacci retracement support level and there is no bullish reversal signal showing.
As a result, a decline below $0.00020 appears to be the most likely scenario. The area above $0.00037 would invalidate this prediction in the crypto market.
Ethereum Name Service ENS Price Prediction: Divergence and Breaks
On October 14, ENS reached a high of $20.37 which seems to be breaking above the horizontal resistance area of $17.90. However, the breakout turned out to be only a divergence (red circle), as the ENS was not able to maintain its higher prices.
On October 21, ENS price again declined below the $17.90 area. The area is now expected to provide resistance.
The ENS is now in danger of breaking above the support line that has been rising since August 29. If it does, it could quickly drop to $12.
Conversely, a retest of the $17.90 area would mean that the trend is still bullish in this crypto market.
Aptos APT Price Prediction: This Crypto Struggle After Listing
Since its much infamous launch on October 18th, the price of APT has been trading inside a symmetrical triangle. On October 21, it broke through the triangle and was validated as resistance (red sign).
This is an indication that lower prices are expected in this crypto market. If APT price falls below $6.60, the rate of decline could be very steep.
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The AXS, ETHW, LUNC, ENS and APT spell trouble posts first appeared on BeInCrypto after losing support.