BeInCrypto looks at five cryptos that decreased the most from the entire market this week, specifically from Feb. 3 – 10.
The cryptocurrencies that have fallen the most from the entire cryptocurrency market are:
- Fantom (FTM) price decreased by 25.62%
- Aptos (APT) price decreased by 21.75%
- Terra (LUNA) price decreased by 21.55%
- dYdX (DYDX) price decreased by 20.55%
- EthereumPoW (ETHW) price decreased by 18.58%
Fantom Price Leads Cryptocurrency Market Losers
The FTM price has increased rapidly since Nov. 2022. The upward movement led to a high of $0.66 on Feb. 3. The high was made at the 4.61 Fib extension of wave one.
The increase was likely part of an extended wave three (black). The sub-wave count is given in red. If so, the FAntom price is now in wave four.
Therefore, the wave could end at the $0.40 horizontal support level. Afterward, the upward movement could continue toward $0.80.
A close below $0.40 would invalidate this bullish forecast and could lead to a virtual currency drop toward $0.20.
Aptos Crypto Price Falls After All-Time High
The APT price has decreased since reaching an all-time high of $20.50 on Jan. 26. Four days later, it created a slightly lower high and a long upper wick (red icon) before accelerating its rate of decrease.
Aptos trades close to the 0.5 Fib retracement support level at $11.80. A bounce is expected once it gets there. If, however, the price closes below the $11.80 support area, it could fall down to $7.
Terra LUNA Struggles After Breakout
The LUNA price broke out from a descending resistance line on Jan. 6. While the upward movement led to a high of $2.54 on Jan. 21, the price has struggled to sustain the rally.
Currently, LUNA is trading just above the $1.70 horizontal support area. If it bounces, it could retest the $2.35 area once more. However, if it closes below it, the LUNA price could fall to $2.20.
dYdX Risks Sharp Fall
The DYDX price has fallen since reaching a high of $3.67 on Feb. 2. The downward movement took it inside the $2.50 horizontal support area.
If the cryptocurrency closes below the $2.50 horizontal support area, it could fall to the 0.618 Fib retracement support level at $2.30.
On the other hand, if the DYDX price bounces, it could increase toward $3.
EthereumPoW Price Loses Support
The ETHW price had increased alongside an ascending support line since the beginning of the year. This led to a high of $5.33 on Feb. 2.
However, it decreased shortly afterward and broke down from the ascending support line on Feb. 9. If the downward movement continues, ETHW could fall to $3.40. On the other hand, if the trend reverses, the previous support line at $4 could provide resistance.
For BeInCrypto’s latest crypto market analysis, click here.
Disclaimer
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Source: https://beincrypto.com/5-cryptocurrencies-posted-negative-performance/