The crypto market showed signs of an uptrend over the weekend, but momentum collapsed in the last 24 hours as the market lost $395 billion. Bitcoin fell below $85,000, triggering sharp declines across altcoins, with several hitting new lows.
BeInCrypto analyzed three altcoins that reached a new all-time low today, assessing their potential for recovery.
Animecoin (ANIME)
ANIME price dropped 20% in the past day, now trading at $0.0201. The decline pushed the altcoin to a new all-time low of $0.0192 after losing key support at $0.0230. The sharp downturn has increased selling pressure, making recovery more challenging without renewed investor interest.
ANIME’s performance is closely tied to broader market trends, with Bitcoin and other major cryptocurrencies influencing its trajectory. If the market downturn continues, ANIME could decline further, breaching $0.0190 and setting new all-time lows.
However, if investor interest returns, ANIME could reclaim support at $0.0230, shifting momentum in favor of recovering to $0.0268. A successful retest of this level would invalidate the bearish outlook, improving market confidence.
Beam (BEAM)
BEAM price plunged 26%, hitting an all-time low of $0.0065 before rebounding slightly. At the time of writing, BEAM is trading at $0.0067, struggling to regain stability. The sharp decline reflects persistent bearish pressure, with limited signs of immediate recovery as market sentiment remains weak.
The altcoin attempted to break out of its month-long downtrend but failed, leading to a loss of $0.0082 support. If the downward momentum continues, BEAM could fall further, potentially setting new all-time lows below $0.0060. Sustained selling pressure may delay any short-term price recovery.
However, reclaiming $0.0082 as support could invalidate the bearish outlook. A breakout above this level would allow BEAM to escape the downtrend and target $0.0092. Strengthening buying interest at this stage would be crucial in reversing the negative trend.
Balancer (BAL)
BAL has been in a downtrend since mid-January, failing to break the $3.10 resistance. The sustained decline, combined with bearish market conditions, pushed BAL to a new all-time low of $1.50 today. The prolonged sell-off reflects weak investor sentiment and a lack of buying pressure to support recovery.
The 18% drop in the past 24 hours brought BAL down to $1.56 at the time of writing. This marks its first all-time low since August 2024, increasing the likelihood of panic selling. If investors opt to liquidate holdings, BAL could face further declines, reinforcing the bearish trend.
A potential recovery hinges on reclaiming $1.68 as support. Regaining this level could shift sentiment and allow BAL to target $2.04. A sustained push beyond this resistance may restore confidence, helping the altcoin stabilize after weeks of losses.
Disclaimer
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