BeInCrypto looks at five altcoins that declined the most from the entire crypto market this week, especially since January, 20 to 27.
These popular altcoins have stolen the crypto news and the crypto market spotlight:
- SingularityNet (AGIX) declined by 18.95%.
- Helium (HNT) price decreased by 5.22%
- Casper (CSPR) down 4.78%
- Bone ShibaSwap (BONE) price decreased by 2.03%
- Kyber Network Crystal v2 (KNC) price slashed by 1.98%
SingularityNET Crypto Market Altcoin Leads the Losers
AGIX increased in price by 460% between January 1st and January 14th. It reached a new all-time high of $0.258.
However, the price formed a long upper wick (red icon) on the same day and has since declined.
If the downside momentum continues, the crypto asset could decline to the 0.5-0.618 Fibonacci retracement support level at $0.121-$0.147. On the other hand, a bullish reversal could lead to a retest of the $0.258 high.
Helium price finally clears resistance
After three failed breakout attempts (red icon), HNT price finally moved above a descending resistance line on 5 January. The breakout reached a high of $3.46 on Jan 17. The digital asset has fallen since then.
If the decline continues, the nearest support area lies between $2.33-$2.48, formed by the 0.5-0.618 Fibonacci retracement support level (white).
On the other hand, a continuation of the upward move could take HNT price towards the 0.618 Fib retracement resistance level at $4.19.
The CSPR price has been rising since June 19 with an ascending support line. This line has been validated six times so far.
After the most recent surge on January 7, Casper price started an uptrend and reached a high of $0.042. However, it failed to break out of the $0.038 resistance area and instead formed a long upper wick (red icon).
If the downside momentum continues, the altcoin could revalidate the ascending support line. The line is currently at $0.030.
On the other hand, there could be a break above the $0.038 resistance area to reach the $0.050 high.
Bone ShibaSwap confirms critical level
BON price has been rising since Nov 13 with an ascending support line. On January 16, the price broke the $1.25 horizontal resistance area and was validated as support nine days later (green icon).
The trend remains bullish until BON price closes below $1.25. Therefore, a further move towards $2 is expected.
On the other hand, a close below $1.25 could lead to a decline towards the rising support line at $1.
Kyber Network Crystal v2 (KNC) trades in a horizontal range
The price of KNC has risen sharply since the beginning of the year. On January 18, it broke above the $0.73 resistance area but has not yet validated it as a support.
Whether the price of KNC breaks or bounces off the $0.73 horizontal area could determine the direction of the trend. A bounce will lead an upside move towards $0.96, while a breakdown could lead a decline towards $0.63.
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