• The crypto market is experiencing a rollercoaster of fortune, with altcoins teetering on the brink of a significant tumble.
• According to market experts, the altcoin market could potentially plummet by 30-50%.
• Analysis of the three tokens ARB, APT and STG show that they may experience a steep decline if support levels are broken.
Altcoins Hover on the Brink of a 30-50% Tumble
The crypto market has always been a rollercoaster of fortune, with peaks and troughs that can create or destroy millions in moments. Now, it seems, the altcoin market is set to perform its most dramatic pirouette yet as they have reached their support line. According to market experts and analysts, altcoins are teetering on the edge of a significant tumble, potentially plummeting by 30-50%.
Are Altcoins in Correction or Crisis?
Just recently, the market witnessed a slight upward correction as positive consumer price index (CPI) reports created brief optimism among investors. However, this surge was short-lived as just hours later prices took an abrupt nosedive. This sudden shift in dynamics has been interpreted by many as “buy the news sell the rumor” event. Following Bitcoin’s steep decline, the altcoin market sharply broke below multiple supports and traders now wonder if this is only a correction or something more serious.
Stargate Finance (STG) Price Analysis
As of writing STG token’s price trades at $0.6 declining over 4% in 24 hours. STG price has recently broken below its immediate support level at $0.62 and if it breaks monthly support at $0.57 then it will slump token to bottom levels according to AltSherpa who predicts that token will experience over 43% decline touching next support at $0.35 if it breaks support line at $0.57 .
Arbitrum (ARB) Price Analysis
ARB token’s price is currently hovering near $1.12 with surge over 1% from yesterday’s rate .ARB token has seen sudden drop after hitting high around$1 . If ARB breaks monthly low at $$1 then it could face further drop till $0 .85 which is next important level for ARB tokens according to AltSherpa analysis who claims that ARB might reach bottom levels around 0f $ 0 .60 if current monthly low is breached below .
Alpha Protocol Token (APT) Price Analysis
APT tokens have been trading near resistance level since last few days after seeing sudden jump from lows near$ 0 .60 , however Token failed to break resistnace above$ 1 .10 and dropped back towards resistance zone again after seeing 4 % jump today morning ,According To Altsherpas analysis APT may drop30 % from current levels if resistance level is breached below , reaching next major Support Level near $$ 0 .80