Bitcoin Magazine will analyze the eight altcoins that have lost the most over the past seven days to see if their decline can continue.
These altcoins are:
QNT has fallen since it hit an all-time high of $ 106.19 on June 25. So far it has hit a low of $ 65.20.
The main support is found at $ 60, which previously acted as resistance before being confirmed as support on June 22nd. QNT is rapidly approaching her.
If there is a breakdown, the next support will be at $ 36.60.
Technical indicators are falling. The MACD has shown a bearish reversal signal and the stochastic oscillator has produced a bearish cross. The RSI is about to break below 50.
QNT / USDT daily chart | Source: TradingView
TFUEL has risen since May 19th. It hit a new all-time high of $ 0.679 on June 9, but has fallen since then.
Currently the token is trading just above the USD 0.35 support area, which equates to the Fib retracement support at 0.618. Previously, TFUEL bounced off this level on June 22nd.
However, the technical indicators are falling. The MACD is in negative territory, the RSI has crossed below 50 while the stochastic oscillator has created a bearish cross.
The next support is at $ 0.259.
Daily TFUEL / USDT Chart | Source: TradingView
THETA has been bearish since April 16 along with a descending resistance line. It broke out on June 3rd. However, the upward trend could not be sustained and THETA fell shortly afterwards.
On June 22nd, she confirmed this line of support. Along with the horizontal support area of $ 5.50 (green symbol).
It has now returned to the $ 5.50 zone, potentially creating a double bottom.
However, there is still no sign of a bullish reversal from the technical indicators.
THETA / USDT daily chart | Source: TradingView
NEXO has fallen along with a descending resistance line since May 26th. It made four unsuccessful attempts to escape before it finally erupted on June 29.
The breakout preceded the double bottom pattern combined with a significant bullish divergence in both the MACD and RSI. Additionally, the stochastic oscillator is very close to creating a bullish cross.
The next resistance is at $ 2.60.
NEXO / USDT daily chart | Source: TradingView
RUNE has been down since May 19 when it hit a high of $ 21.28. While the price rallied on May 23, the uptrend was short-lived.
On June 22nd, RUNE hit a lower low of $ 4.48. Subsequent gains were rejected by the $ 7.05 zone that previously acted as a support. It has now turned into resistance (red symbol).
The next support zone is at $ 3.80.
Daily RUNE / USDT chart | Source: TradingView
The GRT has been falling steadily since February 12th. On June 22, it reached just $ 0.42. That level is near the yearly low of $ 0.233.
GRT has risen since then, confirming the $ 0.45 area as support.
The uptrend was initiated by a significant bullish divergence on both the MACD and RSI signal lines. In addition, the stochastic oscillator has just created a bullish cross (green symbol).
The next resistance is at $ 1,375.
Daily GRT / USDT Chart | Source: TradingView
MATIC has fallen along with the resistance line since May 18th. During that decline, it bounced off the $ 1.00 horizontal support area three times, the last time being on June 26th.
However, the gains have been weak and it looks like the token created a descending triangle.
The next support zone is at $ 0.38.
MATIC / USDT daily chart | Source: TradingView
NEAR has been falling since March 13th. It hit a lower high on May 15 and then accelerated the decline.
It is currently trading just above the USD 2.00 support area, which equates to 0.786 fib retracement support.
If there is a breakdown, the next support is at $ 0.95.
NEAR / USDT daily chart | Source: TradingView
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
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