The 3 top crypto losers of the week were SATS, HNT, and KCS. The cryptocurrency market has remained bullish for this week, but those cryptocurrencies still performed negatively.
However, the top crypto losers did not lose more than 10%. These tokens might bounce back and please crypto enthusiasts investing in them. Check this analysis to reveal whether you should take an interest in these crypto assets.
SATS Price Below Major Resistance Level; Will It Rise or Keep Falling?
When writing, the SATS (1000SATS) price traded at $0.000290. It dropped by 1.03% in the past 24 hours. Its market capitalization was $617.36 Million, and the 24-hour trading volume was $65.63 Million, with a loss of 44%.
Based on the technical chart, the SATS price has been struggling below a horizontal resistance level of $0.000330. Buyers attempted once to overcome this resistance level but sellers showed their power. They dragged the price below that resistance level.
The SATS crypto price should trigger a breakout from the horizontal resistance level. Thus, it might not be one of the top crypto losers of the week. Rising in the trading volume might boost the momentum and the buyers may gain strength for the longer time frame.
Alternatively, buyers might panic if the SATS token price remains below the resistance level and forms a bearish marubozu candlestick. The price below the $0.000240 mark could attract sellers, and it might lead to a new all-time low.
HNT Price in Pullback Zone; Can It Smash Last Swing High?
When writing, the technical chart suggested that the Helium (HNT) price kept rising in higher highs and higher lows format. A recent bullish trend was interrupted near the $9 hurdle. The price dropped to an ascending trendline by losing 20%.
Suppose the HNT price forms a bullish candlestick in the higher-low territory, buyers may show interest in the pullback. Buying momentum can be generated once the HNT token price surpasses the 20-day EMA. It may also extend to the last swing high.
Conversely, if the HNT crypto price slips below the trendline, it could generate a selling signal. Here, most investors might prefer to book profit which could result in strong selling pressure.
Once the price loses the 200d-ay EMA, buyers might not bounce back. Consequently, HNT may remain listed among the top crypto losers of the week.
Will KCS Remain Among Top Crypto Losers of the Week with a New ATL?
Based on the technical chart, the KuCoin Token (KCS) price has moved downward from the crucial $10 zone. The KCS buyers have managed to bounce back after a sharp fall at the beginning of August. They halted the price fall near the $7 mark.
If the price takes the support at the $7 mark, a double-bottom pattern could be developed. The RSI has developed a bullish divergence, which may help the price in gaining bullish momentum.
Buyers may show interest if the KCS price gains bullish momentum near the last swing low. Suppose the price surpasses the 20-day EMA, buyers may target the 200-day EMA level.
In contrast, this year’s low can be anticipated if the KCS crypto price loses the $7 mark. Once the price starts trading below the $5 level, sellers may try for a new all-time low.
Conclusion
The top crypto losers of the week, SATS, HNT, and KCS, didn’t perform as per investors’ expectations. SATS and KCS crypto displayed bearish forecasts while the HNT price was wandering in the pullback territory.
Although these cryptocurrencies got listed as top losers at press time, they showed the potential to bounce back. This analysis should help in making an accurate prediction of the top losers’ future performance.
