Happen[In]crypto Take a look at the five cryptocurrencies that have lost the most in the past week, especially from July 1 to July 8,
These cryptocurrencies are:
- Marks List (NMR) : -37.97%
- Stratis (STRAX): -26.47%
- Amp (Amp): -9.61%
- Kucoin Token (KCS): -7.27%
- Huobi Token (HT): -4.50%
NMR
The NMR was subject to a massive increase from June 28 to June 29, moving upwards of 350% in the process. However, it failed to maintain its upward momentum, formed a long upper wick and has been falling ever since.
Additionally, NMR failed to break out of the descending resistance line from September 2021 onwards. Until this happens, the trend cannot be considered bullish.
streaks
Similar to NMR, STRAX has been following a descending resistance line since September 2021. The price started a significant upward movement on June 27 and appeared to have broken out of the pattern.
However, the breakout turned out to be just a divergence (red circle) and STRAX is now trading below the line.
The trend cannot be considered bullish until a certain breakout has transpired.
amp
AMP is also falling below a descending resistance line since February 11. This led to an all-time low of $0.007 on June 18.
The price subsequently increased, appears to have started an upward move on 30 June. However, it failed to break out of the resistance line and instead formed a long upper wick (red mark).
Unless it manages to break out, the trend cannot be considered bullish.
K C S
KCS has been trading inside a descending parallel channel since December 2021. Such channels usually have corrective patterns. This means that an eventual breakout will likely happen.
On May 12, the price bounced off the support line (green icon) of the channel and formed a long lower wick. Although it has since been declining, the daily RSI has generated a very important bullish divergence. This is a signal that often precedes a reversal of a bullish trend.
A retest in the middle of the channel would be a strong signal for a potential breakout.
Hindustan Times
HT was falling below a descending resistance line since June 6. This led to a low of $4.30 on July 1.
Later, the price moved up and broke the resistance line. The breakout was preceded by a bullish divergence in the RSI. However, it is yet to form any kind of bullish structure.
If the price manages to make higher lows, the nearest resistance will be at $5.60.
be for[in]Latest Bitcoin (BTC) Analysis of Crypto, click here