Crypto Market Sees Major Losses
Bittensor (TAO), Mantle (MNT), and Aster (ASTER) are the biggest losers in the last 24 hours. The overall cryptocurrency market lost more than $770 million. This drop puts key support levels at risk as bearish pressure grows.
Data from CoinGlass shows $772 million in open contracts were liquidated in the past day. Long liquidations reached $62.62 million, while short liquidations were $309.54 million. Bitcoin (BTC) and Ethereum (ETH) led the losses with $330 million and $202 million liquidated, respectively. Currently, Bitcoin trades below $109,000, and Ethereum is under $3,900.
Bittensor Falls Below $400, Faces More Downside
Bittensor dropped 5% on Tuesday, falling below the $400 support level. It now trades near $361, just above its 200-day Exponential Moving Average (EMA). The price hit resistance at $458 last Sunday, triggering the recent pullback.
Support is near the 50-day, 100-day, and 200-day EMAs around $361. If the price falls below this, it could drop further to $304, the 23.6% Fibonacci retracement level.
Technical signals show bearish momentum. The MACD is sloping down and may cross below its signal line. The Relative Strength Index (RSI) is at 52, indicating weakening bullish strength.
If Bittensor bounces from $361, it may face resistance at $400 and $458.
Mantle and Aster Under Pressure
- Mantle: Mantle fell 1% on Wednesday, extending a three-day decline. It has lost 13% this week. The price is testing support at $1.59, which held earlier this month. A drop below this could lead to a fall toward $1.24, near the 200-day EMA. The MACD is below zero and falling, with rising bearish momentum. The RSI at 44 shows a shift to bearish sentiment. If Mantle rebounds, resistance is at $2.11.
- Aster: Aster is just above the $1 mark after two days of losses. If it falls below $1, support may appear at $0.94. The MACD has crossed below its signal line, showing bearish momentum. The RSI is at 34, close to oversold levels, indicating strong selling pressure. If Aster rises from $1, it could test resistance at $1.27.
