Coins that lost the most during the week: CEL, CRV, VRA, 1INCH, CELR, DOGE
In this article, Bitcoin Magazine analyzes the 6 altcoins that have fallen the most in the past seven days to see if there are any reversal signals.
- Celsius (CEL): -13.27%
- Curve DAO Token (CRV): -12.20%
- Versatility (VRA): -11.97%
- 1 inch network (1 inch): -11.56%
- Celer network (CELR): -9.33%
- Dogecoin (DOGE): -8.80%
The CEL has fallen since falling below the symmetrical triangle on October 27th.
However, CEL bounced off the $ 3.95 horizontal support area, creating a long wick (green symbol) underneath. As long as the token stays above this zone, the potential for a trend reversal to the upside remains.
However, a break below this will put the token into a declining discovery zone.
Daily CEL / USDT Chart | Source: TradingView
The CRV has moved up since breaking above the descending resistance line on October 23rd. This is a sign that the ongoing correction since April is over.
The token rebounded significantly on October 25, hitting a high of $ 5.5 three days later. However, the CRV has since declined after creating a long top wick of 13.30% strength. This is seen as a sign of pressure to sell.
The next support is at $ 3.63. This was the previous area of resistance that can now act as support.
Daily CRV / USDT Chart | Source: TradingView
The VRA has been increasing rapidly since September 29th. That move higher resulted in an all-time high of $ 0.0874 on November 1st. The high was hit right at the Fib retracement level in the most recent drop. This level usually acts as a local top after the price breaks the all-time high.
VRA has declined since then. The next supports are at $ 0.0547 and $ 0.047. These are the 0.382 and 0.5 Fib Retracement Support Levels (white) and the horizontal support areas.
Daily VRA / USDT Chart | Source: TradingView
1INCH has fallen since hitting a high of $ 7.73 on October 27th. The drop produced a very long top wick with a thickness of 35%. This is taken as a sign of selling pressure, as higher levels cannot be maintained. Additionally, 1INCH has yet to hit a new all-time high, just below the previous high of $ 0.14.
The next support is at $ 4. This is the previous horizontal resistance area that is now expected to act as support.
Daily 1INCH / USDT Chart | Source: TradingView
CELR has been down since September 26th when it hit an all-time high of $ 0.198. It broke the parabolic ascending support line on October 3rd, indicating that the uptrend is over.
So far, it hit a low of $ 0.107 on November 5th.
The token trades within a descending wedge that is considered a bullish pattern. This means that a breakout across the pattern is more likely than a breakdown.
In this case, the closest resistance is at $ 0.15.
Daily CELR / USDT Chart | Source: TradingView
On October 18, DOGE broke the descending resistance line and returned on October 27 to confirm it as support (green symbol).
The next day it increased significantly by creating a large bullish real body.
However, prices have fallen since then.
The next support is at $ 0.22, which is created by an ascending support line.
Daily DOGE / USDT Chart | Source: TradingView
You can see the coin prices here.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
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.
According to Beincrypto