• Altcoins like SOL, XRP, and MATIC face significant price dips.
  • Bitcoin hits a two-month low of $57043 with a 4% decline.

The cryptocurrency market experienced a significant bearish trend over the past twenty-four hours, with the overall market cap decreasing by 4.40%. Bitcoin, the largest cryptocurrency, fell by 4%, dropping to a two-month low of $57,043.96, unsettling investors as it led to a broader decline in altcoin prices. Ethereum, the leading altcoin, also hit a two-week low.

Investors’ Anxiety Peaks as Altcoins Plummet to New Lows image 0 Investors’ Anxiety Peaks as Altcoins Plummet to New Lows image 1 Altcoins Price Chart, Source: Santiment

Ethereum (ETH)

ETH saw a 4.33% decline over the past 24 hours, with trading volume increasing by 52% during the same period. Its price decreased from $3,320.84 to $3,128.61, currently under selling pressure with a daily RSI of 32. The 9-day EMA at $3351 confirms a bearish trend. Resistance levels are identified at $3520 and $3632, while potential support levels include $3246 and $3065.

Investors’ Anxiety Peaks as Altcoins Plummet to New Lows image 2 Investors’ Anxiety Peaks as Altcoins Plummet to New Lows image 3 ETH price Chart, Source: TradingView

Solana (SOL)

Solana, among the top 5 cryptocurrencies by market cap, fell by 8% in the past twenty hours, hitting a ten-day low of $7.19, with trading volume up by 17%. Over the past month, it has declined notably by 20%. Solana is currently facing selling pressure with a daily RSI at 32 and a 9-day EMA at $141 indicating a bearish trend. Resistance levels are noted at $154 and $162, while support levels might be tested at $122 and $116.

Investors’ Anxiety Peaks as Altcoins Plummet to New Lows image 4 Investors’ Anxiety Peaks as Altcoins Plummet to New Lows image 5 SOL Price Chart, Source: TradingView

Toncoin (TON)

Toncoin, also in the top 8 by market cap, dropped by 7.18% in the past twenty hours, reaching a ten-day low of $132.45, with trading volume up by 27%. It is nearing selling pressure with a daily RSI of 47. And a 9-day EMA at $7.638 confirming a bearish trend. Resistance levels are observed at $8.09 and $8.28, with potential support at $6.7 if bearish sentiment intensifies.

Investors’ Anxiety Peaks as Altcoins Plummet to New Lows image 6 Investors’ Anxiety Peaks as Altcoins Plummet to New Lows image 7 TON Price Chart, Source: TradingView

Memecoins Face Heavy Dip

Top memecoins like DOGE , PEPE, SHIB, and FLOKI also experienced significant declines during this bearish period. Dogecoin dropped to a five-month low of $0.1103, down by 7%; PEPE hit a seven-day low of $0.000009329, down by 9%. SHIB fell to a four-month low of $0.00001522, down by 8%. And Floki reached a nine-week low of $0.0001509, down by 8%.

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