The crypto market’s recovery has not benefited all altcoins, as some continue to face sharp declines. While Bitcoin holds steady at $102,200, several altcoins remain in a downtrend, struggling to regain momentum.
BeInCrypto has identified three altcoins that have experienced significant corrections and also formed a new all-time low.
Animecoin (ANIME)
ANIME has extended its decline less than a week after its listing, reaching a new all-time low of $0.0433. The persistent downward trend highlights weak investor confidence and limited buying pressure, keeping the altcoin vulnerable to further losses in the current market environment.
If broader market conditions remain unchanged, ANIME could continue its decline, slipping below $0.0400 and forming a new all-time low. The lack of strong support levels increases the risk of further downside, making price stabilization crucial for preventing additional sell-offs.
Currently trading at $0.0462, ANIME is attempting to reclaim $0.0553 as support. To achieve this, it must first reach $0.0497. A successful breakout above this level would invalidate the bearish outlook, potentially driving renewed buying interest and signaling the start of a recovery.
Pudgy Penguins (PENGU)
PENGU recorded a steep 28% decline in the past 24 hours, reaching a new all-time low of $0.0152 during intraday trading. This persistent bearish momentum highlights the altcoin’s struggle to find stability, leaving investors cautious about further downside risks in the short term.
This marks the third consecutive all-time low for PENGU in as many days, signaling sustained selling pressure. If investors panic and continue offloading their holdings, the drawdown could persist, potentially pushing the meme coin down to $0.0130. The lack of strong support levels adds to the uncertainty.
However, if PENGU reclaims $0.0200 as a support floor, it could shift market sentiment and spark a recovery. A move toward $0.0225 would help the altcoin recoup recent losses, potentially invalidating the bearish outlook and restoring confidence among traders.
Sonic (S) – Previously Fantom (FTM)
Sonic’s price has extended its week-long downtrend, forming new all-time lows for the past two days. The latest ATL was established at $0.4348, signaling persistent selling pressure. The altcoin’s inability to sustain support levels has contributed to its ongoing decline, raising concerns among investors about further downside risks.
Over the last 24 hours, Sonic’s price recorded a 7% recovery, bringing it to $0.4708 at the time of writing. If bearish momentum continues, the altcoin could fall further below $0.4348, potentially towards $0.4000. The lack of strong buying interest suggests that the altcoin remains vulnerable to additional losses in the near term.
For the bearish outlook to be invalidated, Sonic’s price must reclaim $0.5149 as a support level. Successfully doing so would indicate renewed buying momentum, potentially reversing recent losses and restoring investor confidence in the altcoin’s price action.
eToro
eToro
eToro
eToro
Coinbase
Uphold
Coinrule
Chain GPT
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
