The Hateful Eight: TFUEL, CAKE, CEL, NEAR, OKB, SOL, EGLD, VGX – Biggest Losers, March 15-19

Share Article
In Brief
  • TFUEL has broken out from a short-term descending resistance line.

  • CEL is trading inside a symmetrical triangle.

  • Technical indicators for VGX and OKB are bearis.

  • promo

    Want to learn how to trade? Get a beginners guide from _BeInCrypto Academy_ now!

The Trust Project is an international consortium of news organizations building standards of transparency.

In this article, BeInCrypto takes a look at eight altcoins that decreased the most over the past seven days (March 12 – March 19).



This week’s Hateful 8 altcoins are:

  1. Theta Fuel (TFUEL) – 12.16%
  2. PancakeSwap (CAKE) – 9.83%
  3. Celsius (CEL) – 6.98%
  4. Near Protocol (NEAR) – 6.93%
  5. OKB (OKB) – 6.54%
  6. Solana (SOL) – 6.07%
  7. Elrond (EGLD) – 5.38%
  8. Voyager Token (VGX) – 5.18%

Theta Fuel (TFUEL)

THETA has been decreasing since an all-time high price of $0.459 was reached on March 12. 



However, the decrease looked corrective due to frequent overlap.

TFUEL bounced on March 17 and broke out from a descending resistance line afterward. 

Currently, it is approaching the 0.618 Fib retracement resistance at $0.397. 

If it manages to clear it, the next resistance areas would be found at $0.46 and $0.557.

PancakeSwap (CAKE)

CAKE has been moving downwards since Feb. 19, when it reached a high of $21.45. While it bounced on Feb. 28, the increase resembles an A-B-C corrective structure.

Therefore, it is possible that CAKE has not yet reached a low. If so, it would find the next support area at $5.20

Celsius (CEL)

CEL has been moving downward since Jan. 3, when it reached an all-time high of $7.03. 

It is currently trading inside a symmetrical triangle, which is considered a neutral pattern.

However, since the triangle is coming after an upward move, a breakout would be more likely.

If it breaks out, CEL could increase all the way to $9.29.

Near Protocol (NEAR)

NEAR has been increasing since it bounced on March 12. While the bounce has not been substantial, NEAR may have reversed its short-term bearish trend. 

NEAR may be in the fifth and final sub-wave (orange) of a long-term wave three (white). 

The most likely target for the top of the entire move is found near $10.40. The target is given by three different Fib retracement methods.

OKB (OKB)

OKB has been moving downwards since Feb. 22, when it reached a high of $23.80.

Currently, it is trading just above the 0.5 Fib retracement support at $14.30. 

However, technical indicators in the daily time-frame are bearish. The RSI has fallen below 50, and the MACD has crossed into negative territory. Furthermore, the Stochastic oscillator has just made a bearish cross.

Therefore, while a short-term bounce could occur, OKB is likely to eventually drop towards the 0.618 Fib retracement support at $12.15.

Solana (SOL)

SOL has been decreasing since it reached an all-time high price of $18.20 on Feb. 24. While it bounced on Feb. 28, the upward movement looks corrective. 

If the entire structure is a zig-zag A-B-C correction, SOL could complete one more downward movement towards $9.67. This would give waves A:C a 1:1 ratio.

Elrond (EGLD)

EGLD has been increasing since it bounced on Feb. 23. Throughout the increase, the MACD has turned bullish, and the RSI could soon break out above 50. 

However, EGLD is still following a descending resistance line.

A breakout above this descending resistance line and reclaim of the $169 resistance area afterward would confirm that the trend is bullish. 

If so, EGLD would likely reach a new all-time high price.

Voyager Token (VGX)

VGX has been decreasing since reaching an all-time high of $7.81. It did so on Feb. 25.

Currently, it is trading just above the $4.80 support area.

However, technical indicators in the daily time-frame are firmly bearish.

The future outlook seems similar to that of OKB.

While a short-term bounce is likely to occur, VGX is expected to break down afterward. If so, VGX would find the next support at $3.30.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Share Article

Valdrin is a cryptocurrency enthusiast and financial trader. After obtaining a masters degree in Financial Markets at the Barcelona Graduate School of Economics he began working at the Ministry of Economic Development in his native country of Kosovo. In 2019, he decided to focus full-time on cryptocurrencies and trading.

Follow Author

Trade with the Best Crypto Signals - guaranteed profits with over 70% accuracy

Join now

Want to learn how to trade? Get a beginners guide from BeInCrypto Academy!

Learn now

Bybit Bonus Bash. $1,000 Bonus to be Won!

Join now