The coins indicated below have plummeted to the bottom of the chart. For example, HNT and VET have fallen to historical lows of $2.29 and $0.019, which correspond to January 25, 2021, and August 3, 2020, respectively. The altcoins are congregating toward the bottom of the chart. While both MIOTA and IOTX are consolidating above their present support levels.
VET/USD Major Trend: Bearish
VeChain (VET) is in decline following its latest drop to a low of $0.018 on November 9. The downturn has subsided during the last three weeks. The altcoin has resumed a range-bound advance below the resistance at $0.020.
The bears shattered the present support on November 21, but the bulls purchased the dips. Buyers are being held back by resistance at $0.020 on the upside. Nonetheless, VeChain is currently trading in the market’s overbought zone. This suggests that sellers will emerge to drive down prices. VET produced an upward correction on November 9 downturn and a retraced candle body tested the 61.8% Fibonacci retracement line. VET is expected to decline to the 1.618 Fibonacci extension level, or $0.013.
MIOTA/USD Major Trend: Bearish
IOTA (MIOTA) is in a downward trend, having dropped sharply to a low of $0.19 on November 9. The bulls bought the dips the next day as the cryptocurrency reversed upward.
The upward adjustment came to an end at a high of $0.24. Today, MIOTA retraced above the $0.20 support level, resuming consolidation above it. The upward movement has been capped by the $0.22 high or the 21-day line SMA. The cryptocurrency would be at Relative Strength Index period 14 level 45. The coin is likely to fall even more.
HNT/USD Major Trend: Bearish
Helium (HNT) is declining and has dropped considerably to a low of $2.45. As bulls bought dips, the bears pushed the coin to a new low of $2.06.
The upward corrective is being met with resistance at the 21-day line SMA. At the time of writing, the altcoin is trading at $2.29. The altcoin is settling above the $2.00 support level. The price action is distinguished by little body uncertain candlesticks known as Doji. These candles signal that buyers and sellers are unsure about the market’s direction.
IOTX /USD Major Trend: Bearish
IoTex (IOTXUSD) is in decline, however, it has recently made an upward correction to previous highs. Buyers pushed the coin to the previous high but were unable to break it, resulting in the drop. The altcoin fell to a low of $0.035 before resuming consolidation above the present support.
IOTX produced an upward reversal on November 13 downturn and a retraced candle body tested the 78.6% Fibonacci retracement line. The correction predicts that IoTex will decline, but will reverse at the 1.272 Fibonacci extension level, or $0.020. For period 14, the altcoin is at a Relative Strength Index level of 46. The cryptocurrency is in a slump and could continue to fall.
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