Attention: These Are the 5 Altcoins That Plunged To The Bottoms With The FTX Collapse!

ConstitutionDAO (PEOPLE) was the week’s top gainer, rising 27.30% amid the FTX crisis. On the red board is FTT, the exchange’s native token, down 86%. In this article, accompanied by analyst Valdrin Tahiri, let’s take a look at the technical situation of the altcoin projects that lost the most for the week of November 4-11.

  1. FTX Token (FTT) -86%
  2. Curve DAO Token (CRV) -32.1%
  3. Arweave (AR) -31.98%
  4. Aptos (APT) -30.28%
  5. Huobi Token (HT) -30.28%

Here are 5 altcoins that saw historic bottoms in the FTX crash

FTT price lost its $24 foothold on Nov. He had been protecting this area since June 2021. The breakout was swift, and it melted down to $2.01 three days later. Later, the price bounced off $2.20 in the last reinforcement area. Despite the bounce, technical indicators are down. The RSI is declining, below 50 and in the oversold zone. So far, the FTT price has lost 86% of its value. According to the analyst, a break below the $2.20 support area will take FTT price to all-time lows. On the contrary, if the bounce continues, $9 will be the next resistance.

CRV price forms a double bottom formation

The CRV has been falling within a descending parallel channel since July 28. The down move hits its lowest level at $0.52 on Nov. 9th. The bottom zone served to confirm the $0.42 horizontal reinforcement area and the channel reinforcement line. Additionally, it is possible for the CRV price to form a double bottom, which is considered a bullish pattern. According to the analyst, there will be a chance to gain momentum from this region at the top.

However, the daily RSI is falling below 50. This raises doubts about the upper movement and the possibility of breaking out of the channel. Therefore, whether the CRV price breaks out of the channel or falls below the $0.42 area will determine the direction of the future trend.

AR price reaches cross foothold

AR price has been following a rising reinforcement line since June 18. During this deadline, the $16.50 area saw a resistance mission, resulting in five rejections (red). On November 10, the AR reached its reinforcement limit and started a slight jump in the last 24 hours. However, the daily RSI risks breaking out of the uptrend trendline. If the daily RSI diverges from the bullish trend line (green), a breakout from the reinforcement area is expected.

APE price failed to recover from altcoin market crash

APT apparently broke out of a descending resistance line that has existed since November 6 on November 11. But he could not continue his upper movement and fell below the line after a short time. These medical deviations are often followed by valuable downward movements. If the downside continues, the closest reinforcements will be $2.90 and $2.21, which are formed by the 1.27 and 1.61 external Fib retracement levels (white). On the contrary, retracement of the line would be a bullish indicator.

HT price melts amid altcoin bear market As you follow, the HT price has been falling since it reached $9.57 on October 26. The downward move reached $5.50 on Nov. 11. Furthermore, there was a break below the $7.40 area, which is currently expected to act as resistance. The closest foothold is at $5.50. Therefore, the most likely scenario suggests that HT will form a range in the middle of these two levels.

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