Between March 10-17, 2023, the largest cryptocurrency Bitcoin (BTC) reached nine-month highs. Many altcoins followed Bitcoin as well, reaching local highs. However, there were also coins that fell in this process. In this article, we will talk about altcoins that lost value in the seven-day period and analyst Valdrin Tahiri’s comment on these coins. Here are the details…
BONE leads the losers in the altcoin market
BONE price has fallen since the $1.5 resistance area rejected it in early March. In the last 7 days, the cryptocurrency has lost 16.91 percent of its value. Initially, the price bounced off the $1.45 horizontal support area. However, it left this level on March 16. Currently, the coin is trading just above the 0.618 Fib retracement support from the $1.17 high. According to the analyst, if the coin bounces, it could retest the $1.45 region. However, if there is a drop, BONE price could slide back to $0.60.
Helium (HNT) hits lowest level all year
HNT price, which has dropped 15.35 percent this week, has dropped below a descending resistance line since the end of February. The line caused numerous rejections, most recently on March 14. This resulted in a decline to the $1.60 horizontal support area. Also, as we reported as Kriptokoin.com, HNT fell with the delist announcement of Binance, the largest cryptocurrency exchange. According to the analyst, if the price breaks down from this zone, it could drop to $1. However, if HNT price bounces off, it could hit the resistance line once again.
Maker (MKR) has been falling since early February
The Maker (MKR) price, which has fallen 6.24 percent this week, has been trading in the $675 to $950 range since the beginning of February. More recently, it was rejected by the March 14 high range and started the current downward move. If the price bounces off, it could rise to the 0.618 Fib retracement resistance from the $833 low. However, if it breaks down, it could drop to $475.
Flare hits its lowest level
FLR price, which has fallen 4.92 percent this week, has dropped below a descending resistance line since Jan. This line was rejected on February 20, increasing the rate of decline. The cryptocurrency dropped to an all-time low of $0.025 on March 15. As there is no support below this price, it could accelerate the bearish rate further and put the FLR in a bearish trend. On the other hand, if it is bullish, FLR could rise to the resistance line at $0.034.
Bitcoin and altcoin exchange Huobi’s token loses support
Finally, HT price, which is down 3 percent this week, dropped below the $4.20 horizontal support area on March 9. Currently in the validation process as resistance. If successful, a drop to $1.50 could follow. On the other hand, if HT price retraces the $4.20 area, it could rise to the descending resistance line at $5.25.
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