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

The crypto market is witnessing significant sell-offs, with PHA leading the losers' list after plummeting by a sharp 20.11%, now trading at $0.404. HIVE follows closely, suffering a steep decline of 17.90%, settling at $0.3445, while STEEM has dropped 16.72% to $0.2371. These losses reflect increased bearish sentiment and heavy sell pressure in these tokens. PHA, in particular, has breached critical support levels, opening the door for further downside unless buying interest revives at lower levels.

Other notable losers include THE, which slid 11.95% to $1.4696, and VANA, falling 11.15% to $16.968, both showing consistent bearish momentum. POND, down 10.25% at $0.02417, is teetering near key support, suggesting a potential rebound if volume picks up. For traders, these sharp moves present opportunities for strategic entries. Watch for potential short setups if the selling persists or reversal signals for a bounce-back. Risk management is critical in such volatile conditions.