In the week from April 15 to April 22, the most profitable altcoin was STEPN (GMT). In this article, let’s look at the 5 most depreciating cryptocurrencies together with the technical analysis of analyst Valdrin Tahiri.
Helium (HNT): -11.22%
Manufacturer (MKR): -8.00%
Waves: -7.42%
Chiliz (CHZ): -7.08%
Uniswap (UNI): -6,80%
Top 5 Altcoins this Week
HNT has been falling since ATH reached $59.27 on November 7. The downward movement followed the downward resistance line. Initially, the price rose above the horizontal support area of $ 20.50, but declined on April 14. If the downward movement continues, the next support level will be $10.
MKR has been trading above the horizontal support area of $1,700 since January 20. He jumped from this region five times, the last time on April 21. However, MKR has not yet started any upward movement, which indicates a lack of strength. If there is a breakout from the $1,700 area, further bearish momentum is expected.
WAVES has been bearish since the ATH level hit $63.88 on March 31. The decline was rapid, reaching 70% in just 22 days. WAVES is currently trading just above the previous descending resistance line. Although the line is expected to provide support, the price has not yet initiated any upward movements, which may lead to a price drop below the line.
WAVES has been bearish since the ATH level hit $63.88 on March 31. The decline was rapid, reaching 70% in just 22 days. WAVES is currently trading just above the previous descending resistance line. Although the line is expected to provide support, the price has not yet initiated any upward movements, which may lead to a price drop below the line.
As we have shown in the Somagnews analysis, the price of UNI has been declining since March 31. It is currently in the fifth and final wave of this decline. The most likely target of the lower part of the movement is from $8.10 to $8.21. It is located using an external correction of 1.61 on the fourth wave (white at the bottom) and the first wavelength (black).
