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ANC, ZEC, CVX Thrive in the Market, Where-as AR, TFUEL, AAVE Price Fall From a Huge Cliff

Written by: Sahana Vibhute

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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Mar 3, 2022

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Top Gainers- Anchor Protocol(ANC), Zcash(ZEC), Convex Fiannce(CVX)

Anchor Protocol(ANC)

Anchor Protocol began the 2022 trade on an extreme bearish note by plunging more than 70%. However, since the beginning of February, the asset witnessed a halt in the bearish trend and flipped strongly. And since then Anchor protocol maintained a sensible uptrend which is continued until the press-time. No doubt the price faced multiple pullbacks, yet the 38% spike since the beginning of March 2022 squashed the bearish scenario. Currently, hovering along the new ATH, the asset may discover new highs soon.

Resistance: NA

Support: $3.4

Zcash(ZEC) 

Like many ZCash also underwent a drastic bearish trend soon after the beginning of the 2022 trade. After some consolidation, the asset quickly raised high which was again challenged and flipped towards the lower levels. However, since the beginning of March 2022, the ZEC price is maintaining a notable uptrend and able to be among the top gainers with a 25% jump since the beginning of the current month’s trade.

Resistance:  $135

Support: $115.2

Convex Finance(CVX)

Convex Finance underwent a huge spike in the past couple of hours, which temporarily nullified the descending trend. But the fear of continuing with a plunge still hovers along with the asset as most of the sellers might have extracted their profits. Currently, the CVX price is yet again trending similar in the same way it did before the spike. And hence with reduced volatility yet another spike may be pretty much distinct and unlikely. 

Resistance: $24.72

Support: 18.63

Top Losers- Theta Fuel(TFUEL), Arweave(AR), Aave (AAVE) 

Theta Fuel(TFUEL)

TFUEL consolidated within narrow ranges and hence a breakout was expected. But conversely, the price fell from tha cliff marking more than 10% since the beginning of this month. Moreover, the possibilities of a quick rebound also appear less as the selling volume has accumulated to a large extent. Yet the lower support could be held strong and a quick rebound may be ignited once the TFUEL price hits these levels. 

Resistance: $0.1891

Support: $0.1386

Arweave(AR)

The AR price smashed the lower lows during the last few days of February and flipped a couple of times to establish a strong uptrend. And hence breaking through the double-bottom pattern, the AR price spiked to almost hit $35.However, since the previous trading day, the asset flipped the uptrend and fell into a deep bearish well shedding nearly 12% of its value. Moreover, the descending trend is expected to continue further to hit the local support at the earliest. Here if a flip is ignited, the price may go high else remain consolidated. 

Resistance: $34.71

Support: $29.50

Aave(AAVE) 

Aave price has slipped from quite a large level and currently, each attempt of the asset to nullify the downtrend appears to have gone in vain. With the current slash, the AAVE price has depleted below the descending triangle, discovering new support. A rebound at these levels may save the asset from plunging below $100. This may be likely as the no buyers are utilizing the opportunity to accumulate at a discounted price. 

Resistance: $159.4

Support: 125.2

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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