Top Cryptos Retrace After Hitting New ATHs
The list consists of twelve tokens that have seen recent ATHs with different levels of correction upwards. The most capitalized cryptocurrency, Bitcoin ($BTC), surged to an ATH of $122,886, only to go back to $118,144, thus declining by 3.9%. Another major token, $SPX, has seen its price rise to a high of $1.94 and recently traded at $1.90, a 2.3% decline.
There were also quite a few other tokens that showed considerable corrections of their ATHs. $EPIC rose to its peak of $2.67 and is now selling at $2.47, indicating a fall of 7.5%. $HYPE achieved a high of $49.77 and is now worth $45.87, a reduction of 7.8%. $SAROS reached an ATH of $0.287 but slightly pulled back to $0.281, a 2.1% decline.
Tokens like $TAG, $MORE, $CROSS, and $MGO have retraced further, with the biggest being 26.1%. TAG decreased by $0.00063 to $0.00057, whereas $MORE declined $0.087 to $0.070. $CROSS fell to $0.34 against $0.43, and $MGO lost $0.032 in value against 0.025. The largest decline on the list of all assets was $HAEDAL, which hit 40.3% against the ATH of $0.30 to $0.17.
Tokens Near ATH Signal Investor Momentum
The new ATHs of a wide range of tokens point to more trading volumes and even to a new wave of investors. Some tokens have continued to hold relatively stable positions near their ATH, while others are showing steeper corrections, which might be indicative of short-term profit taking or market tendencies in general.
The graph posted by Phoenix Group shows the existing price levels compared to the ATH of a given token. This information may be useful to market players who are checking asset performance, risks, and possible entry or exit points.
