Yes[in]Crypto looked at the top five altcoins with the biggest declines over the past 7 days (more specifically, from April 30 to May 6).
These altcoins are:
Apecoin (APE): -40.24% Kava (KAVA): -31.20% STEPN (GMT): -30.75% Cronos (CRO): -27.28% Fantom (FTM): -22.33%
APE has been falling since April 18, when it nearly hit an all-time high of $27.80. The downward movement was rapid with no apparent retracement.
On May 4, APE dipped below the $14 level area, which was previously resistance. While the region was expected to provide support, it did not.
The next level of support lies at $12, created by the ascending support line. Subdivisions below it may speed up the descent considerably.
KAVA has fallen sharply since reaching a high of $5.65 on April 29. The downward movement resulted in the May 6 low of $3.64. The low was right at the 0.618 Fib Retracement support at $3.75.
If this area fails to initiate a rally, the decline could speed up considerably.
GMT has been falling since reaching an all-time high of $4.17 on April 28. The downtrend was swift, and on May 5, it broke from the $3 level area at GMT.
The next closest support area is $2.10.
If this area fails to hold the price, there will be no other support levels until $0.80.
Since January 22, CRO has been following an ascending support line. This continued until April 25, when the price finally broke below and reached a low of $0.26 on May 3.
There are no bullish signs and the next support area is $0.19.
Since January 26, FTM has been declining with a descending parallel channel. Most recently, it was rejected by the channel on April 2 (red icon) and has been accelerating its decline ever since.
On April 30, FTM fell to a new yearly low of $0.65.
The support line of the channel is currently at $0.37.
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