Categories: Market

SHIBA INU (SHIB) continues to drop to new monthly lows – 7 altcoins are losing most of the week

Bitcoin Magazine will be looking at the seven altcoins that have fallen the hardest in the past week, from November 19th to November 26th, to be precise.

These altcoins are:

Nexo (NEXO): -20.84%
SYMBOL (ICX): -20.05%
SHIBA-INU (SHIB): -19.02%
OMG Network (OMG): -18.94%
Pancake exchange (CAKE): -17.80%
Kardano (ADA): -17.52%
Chain link (LINK): -15.55%

NEXO

Nexo (NEXO) has been down since Nov. 16 when it hit a high of $ 3.71. The downtrend has brought the token below the $ 2.57 horizontal zone which is expected to act as support. This means that the selling pressure is very strong and this area can now act as a resistance area.

The next area of support is the $ 2 level while the area below it is the $ 1.6 level, which is formed by an ascending support line.

NEXO / USDT daily chart | Source: TradingView

ICX

ICON (ICX) has been down since Nov 22nd when it was rejected for the third time from the USD 2.55 resistance area. This zone also coincides with the long-term descending resistance line.

On November 26th, ICX broke below an ascending parallel channel to hit a low of $ 1.60.

The next area of support is at $ 1.42.

ICX / USDT daily chart | Source: TradingView

SHIB

SHIBA INU (SHIB) has fallen along with a descending resistance line since October 28th. At that point it had just hit an all-time high of $ 0.000088.

On November 25, it bounced off the 0.618 fib retracement support at $ 0.000037.

However, he did not succeed in breaking above the descending resistance line (red symbol). It is currently breaking below the 0.618 Fib support.

The closest support area is $ 0.000026.

Daily SHIB / USDT Chart | Source: TradingView

OMG

OMG Network (OMG) has been falling since November 6th when it hit an all-time high of $ 20.12. The decline was rapid, dropping to a low of $ 7.81 on November 26th. This collapsed below the 0.618 fib retracement support at $ 9.50.

The next area of support is at $ 6.50.

OMG / USDT daily chart | Source: TradingView

CAKE

Pancakeswap (CAKE) has been down since Aug 26, when it peaked at $ 26.60. The price fell as low as $ 14.05 (green symbol) on November 18.

CAKE initially confirmed the rising support line formed since May as support and emerged. However, the price broke below it on November 26th (red icon).

The closest support is at $ 11.

Daily CAKE / USDT Chart | Source: TradingView

ADA

Cardano (ADA) has been down since September 2 when it hit an all-time high of $ 3.10. Initially, the token bounced off the horizontal support area of $ 1.95 (green symbol), stopping the short-term downward momentum.

However, ADA broke on November 16, confirming the USD 1.95 area as resistance (red symbol) the next day.

The next support zone is at $ 1.45.

Daily ADA / USDT Chart | Source: TradingView

SHORTCUT

Chainlink (LINK) has been down since Nov. 10 when it hit a high of $ 38.31. It broke the rising support line on November 18th, confirming that the short-term trend is bearish.

LINK is very close to the USD 22.10 support. This is both horizontal support and 0.618 fib retracement support. Hence, it is likely that a ricochet will be initiated from here.

Daily LINK / USDT chart | Source: TradingView

You can see the price of the coin Here.

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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.

SN_Nour

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.