We take a look at the seven altcoin projects that dropped the most between November 19 and November 26. Analyst Valdrin Tahiri identifies critical support levels…
- Nexo (NEXO): -20%. 84
- ICON (ICX) : -20%. 05
- SHIBA INU (SHIB) : -19%. 02
- OMG Network (OMG): -18%. 94
- PancakeSwap (CAKE) : -17%. 80
- Cardano (ADA): -17%. 52
- Chainlink (LINK): -15%. 55
Red table leaders of the week
Nexo (NEXO) has been falling since November 16, when it reached $3.71. The critical support levels are $2 and the area below is $1.6 formed by an ascending support line.
ICON (ICX) has been falling since November 22, when it was rejected for the third time by the $2.55 resistance area. The region also coincided with a long-term descending resistance line. On November 26, ICX broke out of an ascending parallel channel and dropped to $1.60. The closest support area is $1.42.
Shiba Inu (SHIB) has been falling with a descending resistance line since Oct 28. It is currently in the process of breaking out of the 0.618 Fib support level. The next closest support area is $0.000026.
OMG has been falling since November 6, when it reached the ATH level of $20.12. The next support area is at $6.50.
Pancakeswap (CAKE) has been falling since August 26, when it reached $26.60. The decline deepened to $14.05 on November 18 (green icon). The next closest support area is $11.
Altcoin ADA price this week 17%. 52 lost value
Cryptocoin. com, Cardano (ADA) has been falling since September 2, when it reached $3.10, the ATH price. It initially stopped the short term decline by bouncing around the $1.95 horizontal support area (green icon). The next closest support area is $1.45.
Chainlink (LINK) has been falling since November 10, when it reached $38.31. It broke from an ascending support line on November 18, confirming that the short-term trend is bearish. LINK is very close to $22.10 support. This is both a horizontal support area and a 0.618 Fib retracement support level. Therefore, it can be expected to initiate a bounce.