1. OP dropped the most in the past week
Since February 24, the OP price has been falling and continued its downtrend to a short-term bottom of $1.34 on May 31. During the decline, the OP broke below the horizontal resistance at $1.85 on May 17 (represented by the red symbol). After that, OP price continued to drop to the low as mentioned.
If OP rebounds, altcoins can reach the $1.85 area again. However, if a breakdown occurs, the OP can drop to the next support at $1.
2. PEPE price trades in correction pattern
After the craze at the beginning of last month, the price of Memecoin PEPE has undergone a descending trend. Since May 13, PEPE price has been moving within a descending parallel channel. This channel is considered a corrective pattern in which breakouts often occur. On May 31, PEPE price reacted and increased at the support line of the channel, showing a sign of the beginning of an upward movement.
If PEPE continues to rise, this coin meme could reach the resistance line of the channel. However, if a breakdown occurs, PEPE can drop to the nearest support at $0.0000008.
3. Flare Network (FLR) risks a big sell-off
Throughout January, the price of FLR has fallen below the descending resistance line. This area created many rejections, and most recently on April 14 (red icon), when the price failed to break through this level and continued to decline.
Currently, the FLR is facing the risk of falling below the horizontal support of $0.024. If the FLR price fails to sustain this support, a further sharp decline is possible, where a drop to $0.16 is possible.
If FLR bounces off the support zone, this altcoin can hit resistance at $0.030.
4. Toncoin (TON) trades in a bullish pattern
Throughout December 2022, the price of TON has been falling in a descending triangle. The descending triangle is considered a bullish pattern, with the trend often leading to bullish breakouts.
Currently, TON is trading at an important confluence between the horizontal support at $1.80 and the support line of the triangle pattern. If TON continues to bounce from this level, it is likely that the altcoin will reach the resistance line at $2.0.
if TON breaks the support line of the pattern, then it is expected that TON will drop to the next nearest support at $1.37.
5. Conflux (CFX) tries to bounce off horizontal support
The price of CFX has experienced a downtrend and has been breaking through the descending resistance line since March 19. This downtrend pushed the price to a low on May 12 at $0.22. From there, the price created a counterattack from the horizontal area at $0.27.
If CFX recovers its bullish momentum, the altcoin can move to the next resistance at $0.43. However, if a breakdown occurs, CFX can drop to the next support at $0.14.
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