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Technical Analysis

5 Cryptocurrencies That Have Struggled to Reap Benefits of Bullish Market

2 mins
Updated by Geraint Price

In Brief

  • Fantom (FTM) price is in wave four of a five-wave upward movement.
  • Aptos (APT) reached a new all-time high on Jan. 26.
  • dYdX (DYDX) price is trading inside the $2.50 support area.
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BeInCrypto looks at five cryptos that decreased the most from the entire market this week, specifically from Feb. 3 – 10.

The cryptocurrencies that have fallen the most from the entire cryptocurrency market are:

  1. Fantom (FTM) price decreased by 25.62%
  2. Aptos (APT) price decreased by 21.75%
  3. Terra (LUNA) price decreased by 21.55%
  4. dYdX (DYDX) price decreased by 20.55%
  5. EthereumPoW (ETHW) price decreased by 18.58%

Fantom Price Leads Cryptocurrency Market Losers

The FTM price has increased rapidly since Nov. 2022. The upward movement led to a high of $0.66 on Feb. 3. The high was made at the 4.61 Fib extension of wave one. 

The increase was likely part of an extended wave three (black). The sub-wave count is given in red. If so, the FAntom price is now in wave four. 

Therefore, the wave could end at the $0.40 horizontal support level. Afterward, the upward movement could continue toward $0.80. 

A close below $0.40 would invalidate this bullish forecast and could lead to a virtual currency drop toward $0.20.

Fantom (FTM) Leads Crypto Market Altcoin Gainers
FTM/USDT Daily Chart. Source: TradingView

Aptos Crypto Price Falls After All-Time High

The APT price has decreased since reaching an all-time high of $20.50 on Jan. 26. Four days later, it created a slightly lower high and a long upper wick (red icon) before accelerating its rate of decrease

Aptos trades close to the 0.5 Fib retracement support level at $11.80. A bounce is expected once it gets there. If, however, the price closes below the $11.80 support area, it could fall down to $7.

Aptos (APT) Price Decrease
APT/USDT Daily Chart. Source: TradingView

Terra LUNA Struggles After Breakout

The LUNA price broke out from a descending resistance line on Jan. 6. While the upward movement led to a high of $2.54 on Jan. 21, the price has struggled to sustain the rally. 

Currently, LUNA is trading just above the $1.70 horizontal support area. If it bounces, it could retest the $2.35 area once more. However, if it closes below it, the LUNA price could fall to $2.20.

Terra (LUNA) Crypto Gainer
LUNA/USDT Daily Chart. Source: TradingView

dYdX Risks Sharp Fall

The DYDX price has fallen since reaching a high of $3.67 on Feb. 2. The downward movement took it inside the $2.50 horizontal support area. 

If the cryptocurrency closes below the $2.50 horizontal support area, it could fall to the 0.618 Fib retracement support level at $2.30. 

On the other hand, if the DYDX price bounces, it could increase toward $3.

dYdX (DYDX) Crypto Movement
DYDX/USDT Daily Chart. Source: TradingView

EthereumPoW Price Loses Support

The ETHW price had increased alongside an ascending support line since the beginning of the year. This led to a high of $5.33 on Feb. 2. 

However, it decreased shortly afterward and broke down from the ascending support line on Feb. 9. If the downward movement continues, ETHW could fall to $3.40. On the other hand, if the trend reverses, the previous support line at $4 could provide resistance.

EthereumPoW(ETHW) Cryptocurrency Movement
ETHW/USD Daily Chart. Source: TradingView

For BeInCrypto’s latest crypto market analysis, click here.


In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.