These 3 Altcoins Experienced a Sharp Decline, What’s the Cause? (5/3/25)

Updated

March 5, 2025

Gambar These 3 Altcoins Experienced a Sharp Decline, What’s the Cause? (5/3/25)

Jakarta, Pintu News – The cryptocurrency market has come under significant pressure in the past 24 hours, with several altcoins hitting all-time lows. After briefly showing signs of recovery, market momentum weakened, causing Bitcoin to drop below Rp1.4 billion and pushing other altcoins into deeper declines. Some altcoins recorded record low prices, raising questions about the potential for future recovery.

1. AnimeCoin (ANIME) Plunges 20%

AnimeCoin (ANIME) experienced a 20% price drop in a day, now trading at IDR331,428. The altcoin’s price briefly hit an all-time low of IDR316,589 after losing key support at IDR379,247. The mounting selling pressure makes recovery more difficult without any renewed interest from investors.

ANIME’s performance is highly dependent on broader market trends, with movements in Bitcoin and other major cryptocurrencies influencing its price. If the downward trend continues, ANIME could drop further to break Rp313,291 and set a new record low.

However, if investor interest returns, ANIME has the potential to restore its position to IDR379,247. If this level is successfully broken, bullish momentum could return, increasing market confidence and opening up opportunities to rise up to IDR441,884.

Also Read: B itcoin Faces New Price Barriers in the Crypto Market: Volatility and Its Impact on Crypto

2. BEAM Slumped to IDR 107.17

BEAM experienced a 26% price drop to an all-time low of IDR107.17 before recovering slightly to IDR110.43. Continued bearish pressure has made it difficult for the altcoin to gain stability, with prospects for a near-term recovery still limited.

The altcoin briefly tried to break out of its month-long downtrend, but failed to maintain the support level at IDR135,211. If the negative momentum continues, BEAM could experience further declines to below IDR98,934.

However, if BEAM is able to return to the Rp135,211 level, the bearish trend could be arrested. A break above this level could help BEAM break out of the downtrend and target IDR151,841. Buyer support is the key to reversing this negative trend.

3. Balancer (BAL) Falls to New Lows

Balancer has been on a downward trend since mid-January, with a failure to break resistance at IDR51,115. Bearish market conditions continued to pressure BAL’s price until it reached an all-time low of IDR24,734.

An 18% drop in the past 24 hours brought the BAL price to IDR 25,721. This is the first record low since August 2024, increasing the risk of panic selling from investors. If the selling pressure continues, BAL could fall further, reinforcing the existing bearish trend.

BAL’s recovery depends on its ability to return to IDR27,732 as a support level. If it manages to break this level, BAL could potentially target IDR33,670. Successfully defending these levels could restore investor confidence and help the altcoin break out of its prolonged downward trend.

Conclusion

The cryptocurrency market is still showing high volatility, with several altcoins hitting new lows due to mounting selling pressure. Bitcoin as the market leader is also experiencing weakness, which has a direct impact on other altcoins.

Although some altcoins have a chance of recovery if they get strong support, the short-term outlook still depends on the overall market sentiment. Investors are advised to conduct thorough research before making investment decisions amidst this market uncertainty.

Also Read: C ardano Price Movement Pattern Shows Positive Trend, This is Analyst’s Explanation! (5/3/25)

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.