Leaving another week behind, altcoin projects that fell the most in the process until Friday attracted attention. As these altcoins see local bottoms, many users are wondering if this is a buying opportunity. For this reason, in this article, we will convey the most falling coins on a weekly basis, as well as the analyst’s expectation. Here is the list of cryptocurrencies such as ICP, KLAY and analyst Valdrin Tahiri’s expectations for the future…
KLAY is down 19.48 percent this week: What’s next?
KLAY price has been falling ever since it reached $0.335 on July 29. Initially, Klaytn price climbed above the $0.225 horizontal support area, which is acting as an all-time low support. Still, the KLAY price fell from the region on Sept. 14. It has since been falling at an accelerating rate along with the rest of the crypto market. So far, KLAY price hit an all-time low of $0.142 on October 13. The next closest support area is at $0.135, created by the 1.61 Fib retracement.
Will Chiliz price bounce before bottoms?
CHZ price started a five-wave upward move on June 18. The move led to a new high of $0.282 on Sept. 23. Then, the severity of the decline seen in the crypto market negatively affected the coin. The subsequent decline in Chiliz price followed a descending resistance line. It fell as low as $0.160 on October 13. It fell 14.5 percent on a weekly basis. The low was at the $0.158 level and it was very close to the 0.618 Fib retracement level. CHZ price formed a long lower wick that is considered a sign of buying pressure. If CHZ price breaks out of the descending resistance line, it will confirm that the first part of the correction has been completed and its wave (black) has begun.
eCash (XEC) ready for withdrawal
XEC has been trading inside a symmetrical triangle since reaching $0.000025 (green icon) on May 12. While symmetrical triangles are considered neutral patterns, they usually provide continuity. As the triangle emerged after a bearish eCash price move, a final breakout from it is expected. It has dropped 13.68 percent in the last 7 days. On October 12, XEC price finally reached a close below the support line of the channel. In this way he confirmed the breakage. Hence, a downside XEC price move to the lows of $0.000025 is expected.
ICP price poses a problem
ICP price is dipping below a descending resistance line since it reached $9.80 on July 31. The downward move in Internet Computer price has so far dropped to $4.67 on October 13. As we reported as Kriptokoin.com, it fell by 13.53 percent in the week. ICP price has yet to break below its all-time low of $4.60. However, if ICP price fails to break out of the resistance line, the downside move is likely to continue. In this case, it points to the next closest support levels at $3.21 and $1.45.
Ravencoin (RVN) price consolidating outside of ICP
The RVN price has been falling since it reached $0.075 on Sept. 14, like the rest of the crypto market. The high is stuck at the resistance line of a long-term descending parallel channel. So far, it has dropped as low as $0.028 on October 13. The downside move caused Ravencoin price to fall inside the $0.048-$0.028 horizontal range. It is critical whether the RVN price will break above the $0.040 range. It is also important whether it can drop below the $0.028 range.
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