Today, the cryptocurrency market is facing a downturn with Bitcoin dropping below the $98,000 support level, leading to losses across altcoins and setting new lows.
In this adverse climate, BeInCrypto has studied three specific crypto tokens that have hit all-time lows recently and their potential for recovery in the upcoming days.
Zerebro (ZEREBRO)
ZEREBRO witnessed a 24% decline in the last 24 hours, currently priced at $0.0925 and reaching an intraday low of $0.0921. This significant drop has established a new all-time low, indicating increased bearish sentiment and a lack of immediate buying interest in the altcoin.
The downward trend poses challenges for ZEREBRO’s recovery, with no apparent signs of relief in sight. If this trend persists, further losses could be on the horizon, raising concerns among investors and delaying any potential price rebound.
On the bright side, reclaiming $0.1355 as a support level could reverse the bearish trend for ZEREBRO, opening up opportunities for recovery towards $0.259 and restoring confidence in its market performance.
Dymension (DYM)
DYM faced a 13.6% decline in the last 24 hours, hitting a new all-time low of $0.91 during intraday trading today. The inability to hold support at $1.13 emphasizes its struggle in the current bearish market environment.
Continued unfavorable market conditions may exert further downward pressure on DYM, having already lost the crucial $1.00 support level. Investors are wary, hoping for signs of stabilization or a shift in market momentum.
To counter the bearish outlook, reclaiming $1.13 as a support level is essential for DYM. This move could facilitate a recovery towards $1.37, potentially reversing the downtrend and instilling confidence in the market.
Bio Protocol (BIO)
BIO experienced a 12% decline today, prolonging its downward trajectory since its listing a month ago. The persistent decline reflects a lack of confidence among investors amid challenging market conditions.
BIO set a new all-time low of $0.20 today due to low demand and prevailing bearish sentiment, showing vulnerability to further declines in the absence of a significant uptick in market interest.
To shift the bearish sentiment, BIO must establish $0.25 as a support level, paving the way for a potential recovery towards $0.38. A successful rebound could enhance investor sentiment and attract fresh capital inflows.