3 Coins Worst Hit by Black Friday Crypto Crash
The cash hit by the Black Friday crash on October 10 confronted among the sharpest declines of the 12 months. Prices throughout exchanges collapsed inside minutes as billions in leveraged positions had been worn out, triggering compelled liquidations and flash crashes.
Most cryptocurrencies fell between 10% and 60%, however some tokens had been hit far worse — even flashing near-zero values earlier than stabilizing. Their wild swings present how fragile liquidity can turn out to be throughout panic and the way rapidly sentiment can shift as soon as the mud settles. We have listed three such tokens with a further point out to search out should you learn to the top.
Cosmos (ATOM)
Cosmos (ATOM) was one of many hardest-hit cash by (*3*). On Binance, ATOM’s worth briefly confirmed $0.001 (a 99.9% dip) — a supposedly “false print” brought on by a tick-size glitch that fueled widespread panic.
“Historical restrict orders (some courting again years, so far as 2019, e.g., IOTX, ATOM) had remained open on the platform. During excessive market sell-off and the dearth of shopping for orders, promote orders proceed to execute in opposition to these long-standing restrict orders, pushing token costs to sharply drop momentarily,” Binance acknowledged.
Based on Coinbase knowledge (a CEX unaffected by the glitch, ATOM fell from $4.19 to $2.99, an actual 32% intraday drop.
ATOM’s construction nonetheless leans bearish on the each day chart, buying and selling in opposition to a descending trendline whereas dealing with resistance at key Fibonacci ranges. The present base of the trendline sits at $3.35, which ATOM must defend.
A each day shut above $3.64 can be the primary signal of restoration, with the following main hurdles sitting at $4.11 and $4.45. Breaking above $4.45 might flip the pattern bullish (beating the trendline and turning much less bearish) and open a transfer towards $5.32.
Want extra token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
Below, nonetheless, a lack of $3.35 might drag costs again towards $2.87 (the final base earlier than a deeper correction), erasing the rebound.
Despite the weak point, there’s a constructive divergence in play. Between September 27 and October 11, ATOM’s worth made a decrease low, however the Money Flow Index (MFI), which tracks the pace and quantity of cash coming into or leaving, made a better low. It is a traditional bullish sign that means new cash is coming into the market whilst costs stay beneath strain.
That implies some quiet accumulation, presumably retail and spot-driven, as merchants guess on a sluggish restoration following the Black Friday crash.
IoTeX (IOTX)
IoTeX was one other token that briefly flashed zero — a 100% drop — in the course of the October 10 crash on Binance, one of many many “zero” prints that surfaced amid the liquidation chaos.
“Certain buying and selling pairs (equivalent to IOTX/USDT) just lately decreased the variety of decimal locations allowed for minimal worth motion, inflicting the displayed costs within the consumer interface to be zero, which is a show difficulty and never as a result of precise zero worth,” Binance defined.
However, actual buying and selling knowledge from Gemini’s IOTX/USD chart paints a clearer and extra dependable image of what truly occurred, presumably reflecting the token’s actual market habits throughout that risky day.
Based on Gemini’s knowledge, IOTX fell from $0.024 to $0.018, marking an actual 25% intraday drop earlier than stabilizing towards the shut. The sharp transfer mirrored the widespread strain on small- and mid-cap tokens as liquidity evaporated throughout exchanges.
Currently, IOTX trades inside a descending triangle, with help/resistance ranges appearing base(s), with a breach beneath every stage qualifying as a breakdown. The present base of the triangle sits at $0.018, which IOTX must defend.
The token is holding close to $0.020, dealing with resistance at $0.024 (beforehand help) and a stronger barrier round $0.027. A each day candle shut above $0.027 might verify a breakout and open the trail to larger ranges, whereas a fall beneath $0.018 would probably invalidate the restoration try.
The Chaikin Money Flow (CMF), a metric that tracks how a lot cash is coming into or leaving an asset, provides essentially the most optimistic sign for now. Since October 7, the CMF has been climbing sharply whilst costs fell — a constructive divergence that usually hints at shopping for from massive holders or whales accumulating throughout weak point.
In quick, whereas IoTeX’s pattern nonetheless leans bearish, the bettering CMF and regular accumulation level to quiet confidence amongst greater gamers. If worth motion confirms with a breakout above $0.027, IoTeX could possibly be establishing for a rebound regardless of its heavy hit in the course of the Black Friday crash.
Enjin (ENJ)
Enjin (ENJ) was among the many tokens that briefly flashed 0.00001 on Binance in the course of the October 10 crash — some of the excessive “zero-print” circumstances of the day.
However, primarily based on OKX’s ENJ/USDT chart, the true decline was from $0.063 to $0.021, a drop of practically 67%, making it one of many sharpest falls amongst main gaming-focused tokens.
Following that crash, ENJ has rebounded strongly, rising from $0.021 to round $0.048, successfully doubling in worth inside days. Still, the restoration faces stiff challenges forward. The first main resistance lies at $0.054, adopted by a heavy provide zone close to $0.060–$0.074, the place a number of earlier rallies had been rejected. Clearing these ranges would verify sustained bullish momentum.
Conversely, a drop beneath $0.048 might open draw back targets towards $0.041 and $0.034, suggesting that consumers nonetheless must defend present ranges earlier than calling it a confirmed reversal.
One key metric to observe is the Bull-Bear Power (BBP) indicator — a measure of the steadiness between shopping for and promoting power. The BBP has turned upward after hitting its lowest stage of the 12 months, displaying that bearish strain is fading. However, it stays within the unfavorable zone, that means bears nonetheless maintain partial management for now.
In quick, Enjin’s rebound from the crash lows exhibits resilience, however the restoration isn’t full but. A confirmed breakout above $0.054 would flip sentiment extra decisively bullish, whereas one other rejection might maintain ENJ consolidating within the decrease band.
Special Mention: Avalanche (AVAX)
Unlike the others, Avalanche (AVAX) confronted no glitch on Binance — its 70% crash was actual. The token plunged from its pre-crash stage to a low of $8.53 earlier than rebounding sharply.
Since then, AVAX has recovered to round $22, supported by regular whale accumulation.
The Chaikin Money Flow (CMF) has climbed above zero and continues rising, displaying constant shopping for power. To lengthen this Black Friday crash restoration, the AVAX price should maintain above $22 and break $25, with $30–$36 rising as the following key resistance zone.
The submit 3 Coins Worst Hit by Black Friday Crypto Crash appeared first on BeInCrypto.
