Analyst Valdrin Tahiri examines the five most depreciating altcoin projects from March 25 to April 1. Here are the altcoins in question…
AXS, ZEC and HNT fell to lows this week
Axie Infinity (AXS) broke out from a descending resistance line on March 16 and started an upward movement on March 25. reached $74.85. However, the altcoin that failed to break out of the $68 resistance area, the 0.618 Fib retracement level, has since been declining. In any case, the nearest support area will be at $56.50, according to analyst Valdrin Tahiri. Another project that saw bottoms, ZEC’s rate of increase reached $216.26 on March 26, with the increase causing a break above the $160 resistance area.
ZEC has been falling for the last three days, but the $160 area seems to be in the process of confirming as support. According to Valdrin Tahiri, whose analysis we follow closely as Kriptokoin.com, HNT, which managed to get out of the decreasing resistance line on March 16, is currently trying to get out of the $ 24.50 resistance area. If the altcoin is successful, the rate of increase is expected to accelerate with the next closest resistance at $34.90.
Analyst: These 2 altcoins should also be on investors’ radar this week
QTUM formed a double bottom pattern at $5 on January and February 24. QTUM, which has been on the rise since February 24, reached $9.64 on March 30. However, QTUM is falling after being rejected by the $9 horizontal resistance area. According to the analyst, the trend cannot be considered bullish until the altcoin reclaims this area.
Finally, ETC has been falling below a descending resistance line since September 6th. ETC soon reversed the downtrend and broke out of the resistance line on March 19. The altcoin, which has since risen, reclaimed the $34.60 area. However, on March 29, ETC was rejected by the 0.5 Fib retracement resistance level at $49.40 and has been falling ever since. The $34.60 area is now expected to provide support.
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