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In a turbulent crypto market, three altcoins—Arbitrum (ARB), Astar (ASTR), and Celo (CELO)—have reached new all-time lows, reflecting harsh macroeconomic challenges.
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The recent downturn follows Bitcoin’s decline to $80,000, triggering widespread losses across altcoins and ramping up selling pressure.
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According to COINOTAG analysis, if the current trends persist, further declines could push these altcoins lower, with ARB threatening to test $0.300.
This article examines the recent all-time lows of Arbitrum, Astar, and Celo in the face of adverse market conditions, offering key insights into their potential recovery.
Arbitrum (ARB) Faces New Downturn Amid Macro Challenges
Arbitrum’s price has dropped 21% over the past week, currently trading at $0.365. Earlier today, the altcoin hit an intra-day low of $0.343, marking a new all-time low. This continued decline underscores broader market struggles, with ARB facing heightened bearish pressure as investors remain cautious amid uncertain conditions.
The appearance of a Death Cross in late January intensified ARB’s downward momentum, fueled further by ongoing macroeconomic headwinds. It now appears vulnerable to testing a potential low at $0.300 if selling pressure continues.
However, if market sentiment shifts positively, Arbitrum could witness a recovery attempt. A stabilization in broader conditions might allow ARB to climb back toward $0.473—a breakout above this level would suggest a trend reversal, invalidating the current bearish outlook.
Astar (ASTR) Attempts to Recover from Recent Decline
Astar formed a new all-time low today at $0.0294, having fallen by 21% over the past week. Currently trading at $0.0315, the altcoin is seeking recovery. This recent decline has intensified bearish sentiment, which may lead to further downside if market conditions do not show signs of improvement.
Currently moving within a descending channel, ASTR remains exposed to potential losses. Further declines could see it testing $0.0270 at the lower trendline of this channel as a support level before attempting a rebound.
If overall market conditions stabilize, Astar may regain momentum and rise towards $0.0367. A breakout above this level would indicate a possible recovery path and invalidate the continued bearish outlook.
Celo (CELO) Continues Downward Trend with New All-Time Low
Celo reached a new all-time low of $0.329 earlier today before making a slight recovery, now trading at $0.350. The altcoin has experienced a 17% decline over the past week after failing to maintain $0.399 as a support floor. The persistent selling pressure has kept CELO under bearish influence, limiting its chances of a near-term recovery.
The three-month downtrend has exerted substantial downward pressure on CELO, pushing it to deeper lows. If bearish momentum persists, the altcoin may fall below its all-time low of $0.329, potentially testing $0.300 or lower, which would reinforce negative sentiment within the market.
However, a reversal is possible if CELO can recapture the level of $0.399 as strong support. Successfully breaking out above this threshold could pave the way for recovery, possibly pushing CELO to $0.467 and restoring investor confidence in its performance.
Conclusion
The recent lows of Arbitrum, Astar, and Celo highlight the ongoing volatility in the crypto market amid challenging macroeconomic conditions. As these altcoins face significant selling pressure, potential recovery will depend heavily on broader market stabilization and shifts in investor sentiment. Monitoring key support and resistance levels will be crucial for traders looking to capitalize on future price movements.
