Altcoin plunge warning: ENA·NIGHT·ASTER consecutive decline, investors need to be cautious

Selling pressure is spreading uncontrollably. As Bitcoin drops below $86,000 and market sentiment rapidly contracts across the board, small and mid-cap altcoins have been exposed to concentrated sell-offs. Ethena(ENA), Midnight(NIGHT), and Aster(ASTER) have recorded the largest declines within 24 hours, each entering a new downward phase.

ENA, Psychological Line Near Breakdown… Starting Defense at $0.25

Ethena is currently struggling to defend its last stronghold at around $0.25. Having already broken the November 21 low of $0.2180, the psychological support level of $0.2000 remains the final line of defense. If this level also collapses, the next target could extend to the pivot point at $0.1845(S1).

Technical indicators are emphasizing the bearish trend. The RSI has fallen to 33, signaling oversold conditions, and the MACD continues to maintain downward pressure below the signal line. After five consecutive days of decline, it may take some time to recover momentum. Even if a rebound occurs, resistance is likely at the 50-day moving average of $0.3079.

NIGHT, Volatility Surging… Direction to Be Decided at $0.08

Midnight has reached the apex of a symmetrical triangle pattern on the 4-hour chart(. This indicates that volatility has reached a critical point, and the price could move sharply in either direction—up or down.

Currently trading around $0.08, the lower support at $0.05000 is crucial. If this support is broken, bearish momentum could extend toward the S1 pivot point at $0.01923. For an upward scenario, a breakout above $0.07000 is essential, and overcoming this level could lead to a recovery rally toward the R1 pivot point at $0.102239.

Technical indicators are sending mixed signals. The 4-hour RSI remains neutral at 54, but the MACD has already issued a sell signal. Due to limited price movement data since listing, there are constraints in interpreting these indicators.

ASTER, Support Break Warning… Testing $0.78

Aster has fallen below $0.78 and is holding near the key support zone at the pivot point of $0.7787)S1(. The ongoing weakness after a 13% plunge on Monday raises concerns about further declines.

If the daily closing price confirms below $0.7787, a downward path toward the all-time low of $0.5404 could open up. This would pose significant risk of losses for investors. Conversely, if the support holds and a rebound occurs, the first recovery target could be the resistance level at $0.9304, which was the October 22 low and has now turned into resistance.

Bearish momentum is clearly reflected in the technical indicators. The daily RSI is at 32, nearing oversold territory, and the MACD has already issued a sell signal below the signal line. Continued bearishness could cause the RSI to become “stuck” in oversold levels.

Altcoin Outlook: Increased Risk Aversion Ahead of Macro Indicators

All three assets are likely to experience further declines if support levels break. With macroeconomic events on the horizon, investor risk aversion is expected to persist for the time being. In the altcoin sector, the dominant trend remains “eliminate risk first,” making short-term rebounds unlikely to materialize easily.