The cryptocurrency market managed to recover Monday’s sharp losses:
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The cryptocurrency market has managed to recover from Monday’s sharp losses, but the volatility has left a lasting impact on many altcoins. Despite the overall market recovery, some tokens have failed to fully recover, leaving them vulnerable. BeInCrypto counted three altcoins that have suffered significant losses and are making all-time lows in the past 24 hours. Maga has seen a steep decline over the past 12 days, falling 74% since Donald Trump became U.S. president. The altcoin’s rapid decline reflects the declining hype surrounding the scrub coin, leaving it vulnerable to further price erosion. Currently trading at $0.00003077, Maga has made an all-time low of $0.00002768 after missing critical support levels of 0.00005293 and 0.00004196. Failure to hold these key levels has added to the downward momentum, casting doubt on investor confidence in the short term. The decline could continue as the enthusiasm surrounding Trump’s presidency fades. However, Maga could overturn this bearish prediction if it reclaims the support level at 0.00004196. Such a reclaim would restore some confidence to investors and give the token a chance to recover recent losses. Pudgy Penguins has seen a sharp decline of 28% in the past 24 hours, dropping to 0.$0.0176 during the inner low, marking an all-time low. This significant drop reflects intense bearish pressure and highlights the altcoin’s struggle to maintain any upward momentum in the current market environment. The fear of further declines is there as bearish market signals persist. If the selling pressure persists, PENGU could drop to $0.0150 or lower. This continued decline would exacerbate losses, making investors wary of returning to the market until stability occurs. However, if PENGU can reclaim the $0.0225 support level, the bearish outlook could be reversed. Such a reclaim could provide an opportunity for the altcoin to regain investor confidence and start a broader uptrend, potentially reversing recent losses. Sonic S has fallen to an all-time low in the past 24 hours, following a bearish sentiment drop following its move from Fantom to Sonic. The move did not receive the positive reception that developers might have hoped for, leaving the altcoin vulnerable to further downside pressure. Currently trading at $0.488, S formed an all-time low of $0.458 after falling below the critical support of $0.514. A break of this level increased the downside momentum, with traders closely watching whether the token can stabilize or continue its decline.If the downtrend continues, the price of S could drop to $0.400 or lower. However, a reversal of the $0.514 support level could reverse the downtrend. Such a reversal could push the token towards $0.605, providing an opportunity to regain investor confidence and recover recent losses.