This week, five altcoins that fell in the crypto market, especially between May 12-19, attracted attention. In this article, we will talk about the coins that remained behind with their performance throughout the week and analyst Valdrin Tahiri’s expectations for them. Here are the details…
XDC Network (XDC) becomes the most falling altcoin
cryptocoin.com As we reported, XDC price has fallen since the yearly high of $0.047 on March 21. Moreover, this decline caused an ascending support line to be broken on May 17. The line has been in place since the beginning of the year, according to the analyst. Therefore, the breakout shows that the bullish structure is no longer solid. If the decline continues, the next support will be at $0.026. However, if XDC price retraces the previous ascending support line, it could surge towards the $0.041 resistance area. XDC is down 6.6 percent in a week.
Bitcoin SV price failed to break out
BSV price, which has dropped 5 percent this week, has dropped below the descending resistance line since December 2022. More recently, this line caused a rejection on May 9. According to the analyst, this started the continued downward movement. Currently, BSV price is trading inside the $32 horizontal support area. If the price drops, the rate of decline could accelerate towards $23. However, if the price bounces off, it could reach the descending resistance line at $38.
Cosmos (ATOM) failed to leap
ATOM, which has fallen 3 percent this week, has decreased in the wedge that has been decreasing since March. The descending wedge is considered a bullish pattern. That often leads to breakage. However, despite the bounce on May 9, the price failed to initiate any upward movement. Instead, the price is hovering very close to the support line of the wedge. If the price manages to bounce off, it will reach the wedge’s resistance line at $11.70. If a break occurs, ATOM drops to the next nearest support at $8.80.
Klaytn (KLAY) overrides the bull build
The price of KLAY, which is down 2 percent this week, has fallen since hitting a yearly high of $0.37 on May 22. The price has moved down from an ascending support line on May 11. Since this line has been in place since October, a break of this line is a sign that the previous uptrend has ended and a new downtrend has begun. If the decline continues, KLAY will slide back to the nearest support at $0.12. In the event of a reversal, the ascending support line at $0.21 is likely to provide resistance.
Casper (CSPR) is last on the list of falling altcoins
Casper (CSPR) price has been down since hitting a yearly high of $0.063 on April 30. This pullback pushed the price as low as $0.046 on May 18. There are no bullish signs yet, according to the analyst. Therefore, a drop to the previous descending resistance line of $0.042 is possible for CSPR. Should CSPR rebound, it rises to the nearest $0.057 resistance area.
