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These 5 Altcoins Underperformed in an Otherwise Bullish Crypto Market

2 mins
Updated by Geraint Price
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In Brief

  • Loopring (LRC) broke out from a descending resistance line.
  • Fantom (FTM) and Aptos (APT) are following descending resistance lines.
  • Render Token (RNDR) is mired in a corrective structure.
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BeInCrypto looks at five biggest altcoins losers in the entire crypto market this week, specifically from Feb. 17-24.

The altcoins that have fallen the most in the entire crypto market are:

Loopring (LRC) Price Leads Crypto Losers

The LRC price broke out from a descending resistance line on Jan. 23. The increase led to a high of $0.49 on Feb. 16. However, the price created a long upper wick and has fallen since.

Whether the LRC price breaks out above $0.50 or continues to decrease will likely determine the future movement. A breakout could take the price to $0.60, while the continuing of the decrease could cause a fall to $0.33.

Loopring (LRC) Price Breakout. crypto
LRC/USDT Daily Chart. Source: TradingView

Render Token (RNDR) Breaks Down From Parabola

The RNDR price had increased alongside a parabolic ascending support line since the beginning of the year. The increase led to a high of $2.19 on Feb. 7.

However, the price broke down from the parabola the next day. It is now likely in the C wave of an A-B-C corrective structure. The most likely level for the correction to end would be at the 0.618 Fib retracement support level at $1.09.

However, if the RNDR price breaks out from the current short-term descending resistance line, it could increase to $2.20.

Render Token (RNDR) Correction
RNDR/USDT Daily Chart. Source: TradingView

Fantom (FTM) Trades Inside Support

Similar to APT, the FTM price has fallen under a descending resistance line since Feb. 3. More recently, the line caused a rejection on Feb. 16. 

The FTM price is currently trading inside the $0.495 support area. Whether it bounces or breaks down could determine the future trend’s direction. A bounce could lead to a retest of the resistance line, while a breakdown could lead to a fall toward $0.420.

Fantom (FTM) Crypto Resistance Line
FTM/USDT Two-Hour Chart. Source: TradingView

dYdX (DYDX) Bounces at Support

The DYDX price has fallen below a descending resistance line since Jan. 30. The line caused a rejection on Feb. 16.

Currently, the price is trading between the $2.50 horizontal support area and the descending resistance line. If it breaks out from the line, it could increase to $3.50.

However, if it breaks down below $2.50, the price could fall to $2.00.

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

Aptos (APT) Price Follows Resistance Line

The APT price has fallen below a descending resistance line since Jan. 26. The line has caused numerous rejections, most recently on Feb. 16 (red icon). 

When combined with the $13.76 support area, the price action creates a descending triangle, which is considered a bearish pattern. As a result, a breakdown from it would be the most likely future price forecast.  In that case, the APT price could fall to $9.68. 

However, if the price breaks out from the triangle instead, an increase toward $16.50 could follow.

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

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

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Disclaimer

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. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

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Valdrin Tahiri
Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona School of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto's Senior Analyst. (I do not have a discord and will not contact you first there. Beware of scammers)
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