3 Altcoins That Reached All-Time Low Today

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The crypto market witnessed a massive crash over the last 24 hours. With US President Trump’s trade wars intensifying, it was not surprising to see many altcoins follow Bitcoin in posting losses.

BeInCrypto has analyzed three such altcoins that noted considerable decline today and also formed a new all-time low.

Arbitrum (ARB)

ARB’s price fell by 36.39% over the last 24 hours, forming a new all-time low at $0.294 before slightly recovering to trade at $0.330. This marks the second time in a month that Arbitrum has hit a new low, raising investor concerns over the altcoin’s long-term viability.

ARB may continue to face downward pressure and struggle to breach the $0.378 resistance in the near future.

ARB Price Analysis. Source: TradingView

For ARB to avoid forming another all-time low, the altcoin must reclaim $0.378 as a support level. Successfully flipping this into support could enable Arbitrum to recover recent losses and make a move toward $0.473, restoring some investor confidence in the process.

ApeCoin (APE)

APE price declined by 21% over the past 24 hours, forming a new all-time low of $0.348. The altcoin is currently trading at $0.380 and could attempt a recovery if momentum builds, potentially targeting the $0.430 resistance level as its next major breakout point.

However, if broader market conditions continue to remain bearish, APE may struggle to sustain any recovery attempts. The drawdown could persist, keeping the altcoin consolidated below the critical $0.430 resistance level and dampening bullish expectations in the short term.

APE Price Analysis. Source: TradingView

Successfully flipping $0.430 or even $0.460 into a support floor could give APE the push it needs to rally. This shift would enable the altcoin to target $0.552, providing bullish confirmation and invalidating the current downtrend outlook.

Ai16z (AI16Z)

AI16Z fell by nearly 22% in the last 24 hours, marking it as one of the day’s worst-performing tokens. The altcoin also formed a new all-time low at $0.099, raising investor concerns amid heightened market volatility and broader bearish sentiment in the crypto market.

Currently trading at $0.110, AI16Z continues to face downward pressure, as seen in the SAR indicator showing resistance above the candlesticks. If this bearish trend holds, the token could fall further and form another all-time low, extending investor losses and signaling weaker support levels ahead.

AI16Z Price Analysis. Source: TradingView

However, if AI16Z flips $0.127 into support, a bounce could be triggered. A breakout above $0.154 would invalidate the current bearish outlook and potentially enable a recovery of the 49% losses recorded over the past week, restoring some investor confidence.

Original Article