Altcoin Prices Plummet: CRV, EOS, and DYDX Reach New All-Time Lows

Altcoin Prices Plummet: CRV, EOS, and DYDX Reach New All-Time Lows

The cryptocurrency market is currently witnessing a significant decline, with numerous altcoins hitting new all-time lows (ATLs) today, as Bitcoin’s price slips below $50,000.

This bearish trend is paving the way for further ATLs, with Arbitrum leading the charge, reaching a new low of $0.43 today.

Curve (CRV)

The Curve DAO Token (CRV) has seen the steepest decline among these altcoins, plummeting by over 18% in the past 24 hours. After failing to break through the resistance at $0.307, CRV found itself consolidating just above $0.230.

Earlier in July, CRV set a new all-time low at $0.217, which it surpassed today. The new ATL for CRV now stands at $0.190.

While a further decline seems unlikely, given that the crypto market may have bottomed out, a recovery could push CRV back above the $0.250 mark.

EOS (EOS)

Although EOS didn’t experience a sharp drop over the past day, the steady downtrend over the last week contributed to its new ATL. The altcoin has lost 25% of its value over the past five days and is currently trading at $0.43.

As EOS broke its previous all-time low of $0.44, it established a new one at $0.40, just a month after hitting $0.44. However, EOS is already showing signs of recovery and could close above the previous ATL by the end of the day.

A recovery here would require EOS to flip the $0.50 psychological level into support, potentially pushing it toward the $0.55 barrier, which, if breached, could lead to further gains.

dYdX (DYDX)

The native token of the Proof of Stake (POS) blockchain dYdX, known as DYDX, has also seen a significant drop today, with its price falling 11% on the daily chart. Like the other altcoins on this list, DYDX also marked an ATL in July, which was surpassed today.

While the previous ATL of $1.00 was nearly breached yesterday, with an intra-day low of $1.01, today’s trading saw DYDX fall to a new low of $0.86.

Although further declines seem improbable, reclaiming the $1.16 support level would be crucial for DYDX to begin recovering its recent losses.