These 5 Altcoins Have Achieved The Worst Performances In The Crypto Market

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BeInCrypto takes a look at five altcoins that declined the most across the entire crypto market in the past week, particularly from December 23-30.

These digital assets have drawn attention in crypto news and the crypto market:

Chain (XCN) price decreased by 33.83% Solana (SOL) price decreased by 22.87% Aptos (APT) price decreased by 15.36% Axie Infinity price (AXS) fell by 15.00% Sandbox (SAND) price fell by 14.68% XCN is the worst performing Altcoin

XCN price has been falling below a descending resistance line since September 27th. The line caused a rejection on November 1 (red icon) leading to the acceleration of the downward movement. This led to a new all-time low of $0.011 on December 30.

There are no reversal signs in place. Therefore, the downward movement should continue. Recovering the $0.035 resistance zone would indicate that a bullish reversal has started instead.

XCN/USD daily chart. Source: TradingView SOL breaks below crucial support

SOL price broke down from the $30 horizontal support zone during the first week of November. The downward move was swift, leading to a low of $8 on December 30.

If the downward move continues, the next closest support zone is at $4.20, which is a 55% drop from the current price.

The weekly RSI just dipped below 25 and did not generate a bullish divergence. This suggests that the trend is still bearish and makes further downward movement likely.

The SOL price must recover the $30 area for the trend to be considered bullish.

SOL/USDT weekly chart. Source: TradingView APT resumes its downward movement

APT price has been falling below a descending resistance line since October 23rd. More recently, the line caused a rejection on December 16 (red icon) and broke out of the $3.95 support zone the next day. This is an important development as the zone has been in place since November 8th.

As with the SOL, the RSI fell below 30 and generated no bullish divergence.

If the downward move continues, the closest support zone would be at $2.22, created by the 1.61 outer Fib retracement of the most recent bounce.

APT/USDT daily chart. Source: TradingView AXS Breaks Down Ascending Support

AXS price had been rising along an ascending support line since November 9th. This upward move led to a high of $10.40 on December 5th. However, the price has since fallen and broke down from the ascending support line on December 16th.

After having validated it as resistance on December 22 (red icon), the AXS price has resumed its downward movement and is approaching a new annual low. If the decline continues, the closest support zone would be at $4.50, created by the 1.61 outer Fib retracement of the most recent bounce.

Recovering the ascending support line would mean the trend is bullish.

AXS/USDT daily chart. Source: TradingView SAND Altcoin Could Fall 45%

SAND price has fallen below a descending resistance line since hitting an all-time high of $7.94 in November 2021. The line caused a rejection during the first week of November (red icon ), breaking down from the $0.80 horizontal support zone in the trade. This led to a low of $0.38 on December 29.

If the downward move continues, the closest support zone would be at $0.21, which is a 46% drop from the current price.

On the other hand, recovering the $0.80 resistance zone would rather mean that the trend is bullish.

SAND/USDT weekly chart. Source: Trading View

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Disclaimer

BeInCrypto strives to provide accurate and up-to-date information, but it will not be responsible for missing facts or inaccurate information. You comply and understand that you must use this information at your own risk. Cryptocurrencies are highly volatile financial assets, so do your research and make your own financial decisions.

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