Technical Analysis on Top Losers: $PHA , #HIVE , #STEEM , $THE , $VANA , and #POND

The crypto market is experiencing significant sell-offs, with PHA leading the losers, down 20.11% and trading at $0.404. $HIVE follows with a 17.90% drop, now at $0.3445, while $STEEM has fallen 16.72% to $0.2371. These declines indicate growing bearish sentiment and heavy sell pressure on these tokens. $PHA, in particular, has broken key support levels, signaling further downside potential unless buying interest resurfaces at lower levels.

Other notable losers include $THE, down 11.95% to $1.4696, and $VANA, which dropped 11.15% to $16.968, both showing sustained bearish momentum. $POND is down 10.25% at $0.02417 and is near a critical support level, suggesting a possible rebound if volume increases.

For traders, these sharp declines offer opportunities for strategic entries. Watch for potential short opportunities if the selling continues, or look for reversal signals for a possible bounce. Risk management is essential in such volatile conditions.