RPL, LDO and PEPE: this week's top losers
Date: 2023-07-24 Author: Karina Ziganova Categories: BLOCKCHAIN
Among the loser coins this week were:
RocketPool (RPL) -20,81%
Fantom (FTM) -17,84%
LidoDAO (LDO) -14,53%
WOO Network (WOO) -14,44%
Pepe (PEPE) -14,11%
RocketPool (RPL) topped the ranking of loser altcoins
The RPL has been below the descending resistance line since April 16. The asset has repeatedly fought it off - the last time it happened on July 14. Since then, the price of the token has plummeted and was below the $34 horizontal area on July 19.
This is the last horizontal support before the new low. If RocketPool continues to fall, it could reach the $25 mark. In the event of a rebound, the $34 area will again provide resistance to the asset.
Lido DAO (LDO) is trading within the corrective model
Since February 11, the LDO price has been declining inside the downward parallel channel. The model is considered corrective, so a breakout from it is the most likely scenario.
However, on July 14, LidoDAO failed to break above the channel's resistance line and the $2.40 horizontal area. If the decline continues, the price of the asset may fall to the midline of the channel at $1.70. Thus, the trend cannot be considered bullish until the LDO fixes above $2.40.
Fantom (FTM) price failed to break through important resistance
The price of FTM fell after failing to break above the $0.32 resistance area on June 25. At the moment, it has formed three lower highs, which indicates that the upward movement has lost its strength.
If the downward movement continues, Fantom may sink to the next support at $0.20. Otherwise, the asset will reach $0.32 and test it again as resistance.
WOO Network (WOO) is trading in a symmetrical triangle
Since November 2022, WOO has been trading inside a symmetrical triangle. This pattern is considered a neutral model, so the price of the token can either break above its borders or fall below.
On June 14, the price of Woo Network bounced off the triangle support line, but on July 4, it failed to break through the resistance and began to fall. If the decline continues, the asset may fall again to the support at $0.18.
Pepe (PEPE) closes the list of losers of the week
Like WOO, PEPE is traded inside a symmetrical triangle. As we noted earlier, this pattern is considered neutral.
Currently, the price of the memecoin is hovering just above the support line. If PEPE manages to break beyond the upper boundary of the triangle, it can rise to the next resistance at $0.00000190. In case of failure, the token will fall to $0.00000120.
