Zilliqa (ZIL) Decreases 63% in April: Biggest Weekly Losers

Be[in]Crypto takes a look at the five cryptocurrencies that decreased the most over the past week, more specifically from April 22 to 29. 

These cryptocurrencies are:

  1. Zilliqa (ZIL) : -24.15%
  2. Near Protocol (NEAR) :-22.66%
  3. Axie Infinity (AXS) : -22.40%
  4. Waves (WAVES) : -21.69%
  5. Theta Network (THETA) : -19.75%

ZIL

ZIL has been falling since reaching a high of $0.23 on April 1. The downward movement has so far led to a low of $0.084 on April 29. Measuring from the April 1 high, this is a decrease of 63%.

ZIL is approaching the 0.786 Fib retracement support level at $0.076, an area that could initiate a bounce.

If the area fails to hold, the next support would be at $0.057. This is both a horizontal support area and coincides with a potential ascending support line.

ZIL Decrease
Chart By TradingView

NEAR

NEAR has been decreasing since reaching a high of $19.78 on April 8. On April 25, it broke down from an ascending support line and accelerated its rate of decrease.

Currently, NEAR is holding just above the 0.618 Fib retracement support level at $12.10. If it fails to initiate a bounce above it, the price would be expected to decrease below $10.

NEAR Drop
Chart By TradingView

AXS

AXS had been trading in a range between $69 and $45.50 since Jan 2022. Both the resistance and support areas of this range were tested numerous times. 

On April 24, AXS broke down from the $45.50 support area and proceeded to reach a low of $35.27 on April 29. 

Due to the fact that the range had been in place for 94 days, it is possible that this will be the catalyst for an extended downward movement.

AXS Range
Chart By TradingView

WAVES

Similar to ZIL, WAVES has been falling since reaching a high of $63.93 on March 31. So far, it has decreased by 77.50%. 

More importantly, the price has failed to hold on above the previous descending resistance line and has broken down below it. 

The next closest support area is at $11.40.

WAVES Drop
Chart By TradingView

THETA

Similar to NEAR, THETA had been increasing alongside an ascending support line since the beginning of the year. The upward movement led to a high of $4.39 on April 1. 

THETA has been moving downwards since and broke down from the line on April 25. 

If the downward movement continues, the closest support area would be at $2.15, created by the wick lows of Jan and Feb (green icons).

THETA Breakdown
Chart By TradingView

For Be[in]Crypto’s latest Bitcoin (BTC) analysis, click here

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Related topics

  • (ZIL) Zilliqa
  • Altcoin Analysis
  • Zilliqa Analysis
  • Zilliqa Price
Valdrin Tahiri
Valdrin Tahiri

Valdrin discovered cryptocurrencies while he was getting his MSc in Financial Markets from the Barcelona graduate school of Economics. Shortly after graduating, he began writing for several different cryptocurrency related websites as a freelancer before eventually taking on the role of BeInCrypto’s Senior Analyst.

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