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LEO Creates First Lower High – Biggest Weekly Losers

2 mins
Updated by Geraint Price
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In Brief

  • APE is trading inside an ascending triangle.
  • AR and HT are following descending resistance lines.
  • MKR has broken out from a descending resistance line.
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Be[in]Crypto takes a look at the five cryptocurrencies that increased the most from March 18 to 25.

These cryptocurrencies are: 

  1. ApeCoin (APE) : -10.89%
  2. Arweave (AR) : -3.40%
  3. UNUS SED LEO (LEO) : -2.86%
  4. Maker (MKR) : -2.48%
  5. Huboti Token (HT) : -1.77%

APE

APE has been increasing alongside an ascending support line since its launch on March 17. Most recently, it validated it as support on March 21 (green icon). Currently, the line is at $12.50. 

While not yet validated, it is possible that the price is trading inside an ascending triangle with resistance at $14.50. The triangle is considered a bullish pattern, meaning that a breakout from it would be likely. 

AR

AR has been moving upwards since Feb 24. So far, it has increased by 55%. 

However, it is still following a descending resistance line, which has so far rejected the price four times (red icons). Until it breaks out, the trend cannot be considered bullish.

A potential breakout would see the price reach $41.

LEO

LEO has been falling since reaching a high of $8.14 on Feb 8. On March 23, it created a lower high and resumed its descent (red icon).

If the downward movement persists, the next closest support area would be at $3.80. Measuring from the aforementioned high, this would amount to a decrease of 53%.

MKR

MKR has been moving upwards since Feb 24. On March 16, it broke out from a descending resistance line after three unsuccessful attempts. 

Currently, it is in the process of breaking out from the $2,040 horizontal resistance area. 

If successful, the next closest resistance area would be at $2,320.

HT

HT has been falling underneath a descending resistance line since Nov 3. More recently, it was rejected by it on Feb 8. 

On the other hand, HT has been trading above the $8.50 horizontal support area, which has so far initiated numerous bounces.

Whether HT breaks out from the descending resistance line or breaks down from the $8.50 area instead will determine the direction of the future trend.

For BeInCrypto’s latest Bitcoin (BTC) 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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