These 5 Altcoins Have Dipped To The Bottoms: Here Are The Weekly Prospects!

Crypto analyst Valdrin Tahiri says Aptos (APT) is trading in a descending parallel channel. He also notes that Klaytn (KLAY) has departed from an ascending reinforcement line. According to the analyst, Terra Classic (LUNC) is following a descending resistance line. The analyst takes a look at 5 altcoin projects that diverged from the crypto market and dived to the bottoms last week.

Aptos (APT) leads market losses: 9.9% loss

The altcoin has been falling within a descending parallel channel since October 23. On the downside move, it has dropped as low as $7.12 so far. Later on, APT started a top truth movement and is currently trading at the top of the channel.

Due to the form of the correction, the most likely scenario would be another accurate bearish move to $6.50. This also confirms the baseline of the channel at the same time. However, in the event of a breakout from the channel, the bearish price assumption becomes invalid. This indicates that new drops are in store.

Second losing altcoin Klaytn (KLAY): 8.85% drop

The KLAY price has been falling ever since it reached $0.34 on October 29. It fell to $0.22 on November 4 in the bearish movement. It broke the lowest level inside the 0.5 Fib retracement level.

The six-hour RSI has formed a bullish divergence (green line), which is a sign that a rebound may occur. In such a case, a correct increase in KLAY price from the $0.285-0.30 high to the 0.5-0.618 Fib resistance is possible. Conversely, a close below the $0.23 support area will likely result in a touchdown of the 0.618 Fib retracement level at $0.204.

Terra Classic (LUNC) fails to initiate a breakout: 7.96% loss As you can follow, LUNC price has been falling below a descending resistance line since Sept. 13. The line caused two rejections, the most recent being on October 30. Additionally, LUNC dipped below the $0.0023 resistance area, which now coincides with the descending resistance line.

Due to this merger, LUNC is likely to be rejected and drop to the nearest Fib support at $0.0012. Rather, a break above the line and the horizontal area means that the price action is bullish instead.

Fourth losing altcoin Casper (CSPR): 7.82% drop

CSPR has been falling ever since it hit $0.055 on Oct. The straight down move resembles an ABC corrective structure where the A:C waves have a 1:1 ratio. The altcoin quickly dropped to $0.037 above the 0.618 Fib retracement reinforcement level and the $0.037 horizontal reinforcement area on Nov.

As a result, it’s possible that the fix is ​​complete. If so, there are chances of a real increase to at least $0.05. On the contrary, a close below $0.037 will invalidate this bullish claim.

Latest altcoin EthereumPoW (ETHW) down 7.55%

ETHW has been falling below a descending resistance line since Sept 17. The downward move continued to $5.05 five days later. After the first bounce, the ETHW price has been gradually falling since then.

In the period between October 21 and mid November 2, the price formed a double bottom, which is considered a bullish pattern. Additionally, the weekly RSI has created an uptrend (green line). These signs support a possible break from the line. If a breakout occurs, the nearest resistance will be at $8. On the other hand, a drop below $5.90 will invalidate this bullish claim. .

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