Mdex (MDX) falls to new all-time low – 7 altcoins with the biggest losers of the week

In this article, Bitcoin Magazine takes a look at the seven altcoins that fell the most in the past week, from December 17th to December 24th to be precise.

These altcoins are:

1. OKB (OKB): -7.21%
2. Waves (WAVES): -6.63%
3. Mdex (MDX): -6.28%
4. Votager Token (VGX): -2.68%
5. Function X (FX): -1.47%
6. Polka starter (POLS): -1.13%
7. SwissBorg (CHSB): -0.51%

OKB

OKB has risen along with an ascending support line since September 26th. Most recently, it bounced off this line twice on December 4th and 11th (green symbol).

It then resumed its upward move and is currently attempting to break above the $ 32 horizontal resistance area and has not traded above that level since May.

A break out of this area of ​​resistance or a break in support will likely determine the direction of the future trend.

The next resistance is the all-time high of $ 42.

OKB / USDT. Chart Daily | Source: TradingView

WAVES

WAVES has coincided with a descending parallel channel since October 24th. Such channels usually contain corrective movements, which means that in most cases there will be a breakout.

On December 4, the token appeared to have fallen below the $ 15 area, but rebounded shortly thereafter and returned to the channel’s resistance line again.

A break above this pattern could accelerate the uptrend.

WAVES / USDT. diagram Daily | Source: TradingView

MDX

The MDX has been falling since October 12th. On December 15, it hit a new all-time low of $ 0.34. That number corresponds to a decrease of 78% in just 64 days.

Until the MDX manages to regain the $ 1.90 area that previously acted as a support, the bias remains bearish.

MDX / USDT. Chart Daily | Source: TradingView

VGX

VGX has been down since hitting an all-time high on November 22nd. On December 14th, the price broke the rising support line and confirmed it as resistance two days later.

The token has since held the $ 2.95 zone but has not yet initiated any significant upward movement.

When a breakdown occurs, the next support is at $ 2.40.

VGX / USDT chart Daily | Source: TradingView

FX

FX has fallen within a descending wedge since August 30th. While it only hit $ 0.71 on December 4th, it rebounded thereafter and stayed above $ 0.82.

Despite the lack of bullish reversal signs, FX trades within a bullish pattern and holds above the USD 0.82 support.

If price breaks above the wedge, the closest resistance is at $ 1.40.

FX / USDT chart Daily | Source: TradingView

POLS

POLS has fallen along with a falling resistance line since December 7th. This resulted in a low of $ 2.5 on December 20th.

Shortly thereafter, the token broke above the resistance line and has been moving higher since then.

The main resistance is between $ 3.55 and $ 3.88 and is created by the 0.382-0.5 fib retracement resistance levels.

POLS / USDT chart 6 o’clock | Source: TradingView

CHSB

CHSB has been trading just above the $ 0.60 zone since the beginning of September, initially broke out on December 23, but was able to recover shortly afterwards.

Whether it breaks out of this zone or ricochets will have a huge impact on the direction of the future trend.

CHSB / USDT. Chart 12-hour frame | Source: TradingView

You can see the coin prices 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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