beincrypto.com
The crypto market is noting an increase in multiple altcoins facing an all-time low (ATL) today, with Bitcoin’s price falling below $50,000.
The bearishness is now opening up the possibility of more ATLs after Arbitrum took the lead today and formed a new all-time low of $0.43.
Curve (CRV)
The Curve DAO Token (CRV) witnessed the largest decline in this list, falling by over 18% in the last 24 hours. After failing to breach the resistance at $0.307, the altcoin ended up consolidating above $0.230.
However, CRV established a new all-time low in early July at $0.217, which it broke today. The new all-time low for the Curve DAO Token now sits at $0.190.
Read More: What Is Curve (CRV)?
A further drawdown is not expected since the crypto market has likely hit a bottom. Thus, recovery could push CRV back above $0.250.
EOS (EOS)
Although the EOS price may not have noted a sharp decline in the past day, the ongoing drawdown over the last week did contribute to the new ATL. In five days, the altcoin fell by 25%, trading at $0.43 at the time of writing.
As EOS broke the previous all-time low of $0.44, it established a new one at $0.40, a month after the altcoin fell to $0.44. Interestingly, the crypto asset is already recovering and could close above the previous ATL before the end of the day.
Read More: EOS (EOS) Price Prediction 2024/2025/2030
Recovery from here will warrant flipping the psychological support level of $0.50 into support again. This could push EOS towards the barrier of $0.55, breaching which will enable further rise.
dYdX (DYDX)
The Proof of Stake (POS) blockchain dYdX’s native token DYDX’s price declined considerably today, falling 11% on the daily chart. Like other altcoins in this list, DYDX also marked an all-time low in July, which it broke today.
The previous ATL of $1.00 was nearly invalidated yesterday, but the intra-day low stopped at $1.01. This, however, was not the case on Monday, as DYDX fell to form a new ATL at $0.86.
Read More: Understanding dYdX: A Guide to the Decentralized Perpetual Exchange
This altcoin will not see further lows going forward. However, reclaiming $1.16 as a support floor would allow the altcoin to recovery its recent losses.