Five Cryptocurrencies that have Underperformed the Most this Week: An Exploration

From April 14 to 21, the biggest altcoin losers in the cryptocurrency market include Stacks, Conflux, Loopring, ImmutableX, and Algorand. Stacks’ price fell by 18.97%, Conflux by 17.89%, Loopring by 17.62%, ImmutableX by 17.32%, and Algorand by 16.89%. Stacks’ price fell after hitting a new yearly high of $1.31 on March 20 and then falling immediately afterward, indicating bearish signs. Conflux’s price is trading inside the $0.32 horizontal support area, and if it breaks down, it could find support at $0.27. Loopring’s price has been falling since creating a long upper wick on April 14, but if it regains momentum, a retest of the $0.45 area could occur. ImmutableX’s price has been falling since March 19, and if the downward movement continues, the next closest support will be at $0.75. Algorand’s price has been falling under a descending resistance line since hitting its yearly high on Feb. 9, and if the price bounces, it could increase to the resistance line at $0.22.

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