Technical Analysis: Critical Declines in $PENGU , $1000CAT , $VANA , #VELODROME , and #ME ...
The cryptocurrency market is witnessing significant losses, with PENGU taking the lead, dropping 25.54% to $0.028600. This sharp decline places PENGU at a critical support zone near $0.028. A failure to hold this level could trigger a further decline toward $0.025. 1000CAT is down 20.88%, trading at $0.03470, reflecting increased selling pressure. The coin is nearing a key support level at $0.033, with a possible rebound pushing it toward $0.037 if market sentiment improves. VANA, trading at $15.342 after a 9.48% decline, shows signs of weakness as it approaches $15, a crucial psychological support. Traders should monitor this level closely for either a bounce or a breakdown toward $14.50.
VELODROME and ME have also seen bearish movements, with VELODROME down 3.88% at $0.2032, holding relatively steady compared to others. A drop below $0.20 could lead to a deeper correction, while a recovery above $0.21 may signal a potential rebound. ME, on the other hand, has dropped 12.95% to $2.708, with critical support near $2.65. A breakdown could push it toward $2.50, while resistance at $2.80 remains a hurdle for any recovery. Overall, the market's bearish momentum suggests caution, with traders advised to use tight stop-losses and carefully plan entry and exit points to navigate the ongoing volatility.
