Technical Analysis on Losers: $SAND , $MANA , $BURGER , #AXS , #RAY , and #FTT ...

The crypto market has taken a bearish turn, with SAND leading the pack of losers, plummeting 18.47% to a last price of $0.6624. The Metaverse favorite MANA followed closely with a 15.46% decline, now trading at $0.6236. BURGER also faced a heavy sell-off, losing 14.17% and dipping to $0.4859. Gaming giant AXS saw a significant 9.31% drop, currently priced at $7.509, while RAY slid 9.11% to settle at $5.487. Finally, FTT experienced an 8.80% loss, falling to $2.3428. These sharp declines highlight intensified selling pressure, possibly triggered by macroeconomic concerns or profit-taking after recent rallies.

From a technical perspective, these coins are approaching critical support zones, which traders should closely monitor for potential rebounds or further breakdowns. For SAND and MANA, their consistent declines suggest oversold conditions, possibly setting up a relief bounce in the near term. However, if these coins break below their current levels, expect deeper corrections, with SAND targeting $0.62 and MANA eyeing $0.60. BURGER, having breached its psychological support, could retest lower levels around $0.46, while AXS and RAY may see consolidation if buyers fail to step in around $7.40 and $5.40, respectively. As for FTT, any failure to hold above $2.30 could invite a retest of its lower range. Traders are advised to remain cautious, employ tight stop-losses, and wait for clear trend reversals to capitalize on potential recovery moves.