Today's market witnessed a wave of heavy corrections across several notable altcoins, with $MDT , SPK, and $CVX leading the loser’s board. MDT (Measurable Data Token) plunged by -15.02%, trading around $0.02824. This sharp drop signals increased selling pressure and a breakdown from its recent consolidation range. Unless MDT reclaims the $0.03 psychological resistance, further downside toward $0.025 seems likely. SPK followed closely with a -13.19% dip to $0.0905, indicating a possible breakdown from key support. Watch closely for a bounce or bullish reversal at the $0.0880 zone to signal potential re-entry.
CVX (Convex Finance), despite its high-value nature (Rs1,485.19), also took a hit of -12.42%, suggesting whales may be exiting short-term positions or rotating capital. Technical indicators show weakening momentum, and unless CVX holds above $5.10, a retrace toward $4.80 is possible. Meanwhile, HIFI, SYRUP, GLM, and FXS all showed consistent losses in the -11% range. These synchronized drops reflect broader market weakness or profit-booking. HIFI, now at $0.0889, may test $0.0850 as next support, while $SYRUP and GLM must hold above $0.48 and $0.28 respectively to avoid deeper falls. FXS (Frax Share), trading at $3.247, sits at a critical level—failing to hold this could trigger a move toward $3.00 flat.
In summary, this correction phase might offer buy-the-dip opportunities, but only for patient traders watching key support levels and volume confirmations. For now, caution is advised as volatility remains high and momentum indicators lean bearish across the board.
