Hateful Eight: DAG, MLN, FUN, SXP CAKE, KLAY, SC – Biggest Losers August 27-September 3

BeInCrypto takes a look at the eight altcoins that have fallen the most in the past seven days, from August 27 to September 3.

se altcoins were:

  1. Constellation (DAG): -26.83%
  2. COTI Network (COTI): – 13.05%
  3. Enzyme (MLN): -10.68%
  4. FUNNY Token: -8.49%
  5. Swipe (SXP): -7.84%
  6. Exchange of pancakes (CAKE): -6.78%
  7. Klaytn (KLAY): -0.71%
  8. Siacoin (SC): -0.32%

LEATHER PIECE

DAG began an upward movement on May 23 and began to accelerate on July 20. This led to an all-time high of $ 0.462 on August 26.

However, DAG has since moved to the bottom. Currently, it is trading just above the Fibonacci retracement support level of $ 0.382 to $ 0.294. If the level fails, there is strong support at $ 0.192. This is the 0.618 Fibonacci retracement support level and a horizontal support area.

TradingView DAG Chart

COTI

On August 25, COTI broke out of a parallel descending channel and peaked at $ 0.49 on the same day.

However, it was pushed back by the 0.786 Fibonacci retracement resistance level and has been moving lower ever since. It is currently trying to find support above $ 0.29. This is the support level of the 0.5 Fib retracement when measuring the entire up move.

However, neither the RSI nor the MACD show signs of a bullish reversal.

TradingView COTI Chart

MLN

MLN has been climbing along with an ascending support line since July 21. Although it was initially pushed back from the $ 108 resistance area, it managed to break through amid a large bullish candle on August 26.

Read also Bitcoin (BTC) and Ethereum (ETH) hit all-time highs again: multi-currency analysis

On the same day, it peaked at $ 177 before making a long top wick (red icon) and falling sharply.

However, it is still trading above the $ 108 area and the ascending support line. As long as it does, the trend can be considered bullish.

TradingView MLN Chart

FUN

FUN has been rising alongside a descending resistance line since July 20, when it was trading at a low of $ 0.013. bullish move continued to hit a high of $ 0.038 on August 24.

FUN created a long top wick on the same day and has been moving downward ever since. Also, both the MACD and the RSI are falling.

However, it is approaching a strong support level at $ 0.026 created by the 0.5 Fib retracement level and the ascending support line.

Some kind of bounce would be likely if FUN returns to this support.

FUNNY Chart from TradingView

SXP

On July 29, SXP broke a descending resistance line and continued to climb until it reached a high of $ 4.58 on August 25.

However, it failed to break out of the $ 4.15 resistance area, which is the 0.618 Fibonacci retracement level. After both the MACD and the RSI generated bearish divergences, the SXP began to move lower.

Despite the decline, SXP is still holding above an ascending support line. As long as the support line is in place, the bullish structure remains intact.

TradingView SXP Chart

PIE

In the period from July 20 to August 26, CAKE rose along an ascending support line. However, it broke the line on August 30.

Read also BTC On-Chain Analysis: Old Coins Move During Ongoing Bounce

CAKE then validated the line as resistance (red icon) on September 2.

main support area sits at $ 20.70. This is both a horizontal support area and the 0.382 Fibonacci retracement support level.

TradingView CAKE Chart

KLAY

KLAY has been moving lower since August 16, after hitting an all-time high of $ 1.98. He created a flysheet caral on August 20 and has since gone down.

pattern was combined with bearish divergences in both the RSI and MACD.

slide was stopped when KLAY bounced off the Fibonacci retracement support level of 0.382 to $ 1.54. Currently, it is consolidating above the level, potentially preparing for another bullish move.

Conversely, the next closest support area is at $ 1.40.

TradingView KLAY chart

ns

SC has been going up since June 22. It created a higher low on July 20 and began to accelerate.

On August 23, it broke out of the horizontal resistance area of ​​$ 0.02 and validated it as support five days later (green icon).

If it continues to rise, the next resistance level would be at $ 0.033.

TradingView SC Chart

For the latest Bitcoin (BTC) analysis from BeInCrypto, click here.

Hateful Eight post: DAG, MLN, FUN, SXP CAKE, KLAY, SC – Biggest Losers from August 27 to September 3 first appeared on BeInCrypto.

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