3 altcoins hit all-time low today

The crypto market has just experienced a major "event" in the last 24 hours. As President Trump's trade wars escalate, it's no surprise that many altcoins have suffered the same fate as Bitcoin and recorded significant declines.

Below are 3 altcoins that have plummeted and set new lows today.

Arbitrum (ARB)

This afternoon, the price of Arbitrum hit an all-time low of $0.246 before slightly recovering to $0.275 at the time of writing. This is the second time this month that Arbitrum has set a new low, raising concerns about the long-term sustainability of this altcoin.

Currently, ARB is still under selling pressure and may struggle to break through the resistance level of 0.378 USD in the near future.

ARB Price Analysis | Source: TradingViewTo avoid creating a new bottom, ARB needs to reclaim the 0.378 USD level as support. If successful, this coin could recover recent losses and aim for the 0.473 USD mark, helping to restore some investor confidence.

ApeCoin (APE)

The price of ApeCoin has dropped by 21% and has established a new low at 0.348 USD. Currently, APE is trading around 0.393 USD and may recover if the upward momentum is reinforced, with the next target being the resistance level of 0.43 USD.

However, if market conditions continue to reinforce the downward trend, APE may remain stuck below the $0.43 level, weakening short-term bullish expectations.

APE Price Analysis | Source: TradingViewIf APE can turn the 0.43 USD or even 0.46 USD mark into support, this token could bounce back and aim for the target of 0.552 USD, thereby reversing the current downtrend.

Ai16z (AI16Z)

AI16Z has dropped nearly 22% this afternoon, becoming one of the worst-performing tokens of the day. This altcoin also set a new all-time low at $0.099, causing investors to worry as the cryptocurrency market remains in a downtrend.

Currently, AI16Z is trading around 0.112 USD and continues to face downward pressure, as the SAR indicator shows that the resistance level remains above the price candles. If this trend continues, AI16Z may continue to create new lows, increasing losses for investors and pushing the token into a weaker support zone.

AI16Z Price Analysis | Source: TradingViewHowever, if AI16Z can turn 0.127 USD into a support level, a recovery may occur. Breaking the 0.154 USD level will invalidate the current downtrend and create an opportunity to recover the 49% loss from the past week, reinforcing investor confidence.

You can check the coin price here.

Disclaimer: This article is for informational purposes only and is not investment advice. Investors should conduct thorough research before making decisions. We are not responsible for your investment decisions.

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Itadori

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