• Aster ticks lower by over 1%, extending the 13% loss from Monday with the third consecutive day in the red.
• Midnight token is down 10% in the last 24 hours, approaching the apex of a symmetrical triangle pattern on the 4-hour chart.
• Ethena risks losing $0.20 psychological support as selling pressure builds.

Aster (ASTER), Midnight (NIGHT), and Ethena (ENA) are the altcoins with the most losses over the last 24 hours, as the broader cryptocurrency market weakens amid Bitcoin (BTC) dropping below $86,000. ASTER, NIGHT, and ENA risk further losses as selling pressure mounts and risk-off sentiment spreads across the crypto market.

Aster risks breaking below its crucial support

Aster extends the losses for the third consecutive day, dropping below the $0.80 mark. At the time of writing, ASTER is down over 1% after Monday’s 13% fall, testing the S1 Pivot Point at $0.7787.

If the perpetuals-focused exchange token delivers a daily close below this level, it could test its all-time low of $0.5404.

The momentum indicators on the daily chart suggest a bearish incline as the Relative Strength Index (RSI) at 32 approaches the oversold zone. A steady downtrend in ASTER could extend the RSI consolidation in the oversold territory.

The Moving Average Convergence Divergence (MACD) maintains the sell signal flashed on Monday after crossing below its signal line, with the declining trend in the negative territory.

If ASTER rebounds from $0.7787, it could aim for the support-turned resistance level marked by the October 22 low at $0.9304.

Midnight prepares to break free from a triangle pattern

Midnight, the privacy-focused partner chain of Cardano, is trading in the red, down 10% over the last 24 hours by press time. The NIGHT token approaches the apex of a symmetrical triangle pattern on the 4-hour chart, formed by two converging trendlines.

If NIGHT breaks below the support trendline near the $0.05000 psychological mark, it could test the S1 Pivot Point at $0.01923.

The momentum indicators on the 4-hour chart remain mixed, given the token's limited price action since launch. The RSI at 54 holds above the midline, suggesting a neutral to bullish stance. Still, the MACD crossed below the signal line earlier on the day, flashing a sell indication.

Looking up, NIGHT should surpass the $0.07000 mark to confirm a bullish breakout of the triangle pattern. In such a case, the breakout rally could extend to the R1 Pivot Point at $0.102239.

Ethena struggles to hold ground at key support

Ethena is down 1% at press time on Tuesday, marking its fifth straight day of trading in the red. The ongoing correction in ENA has broken below the November 21 low at $0.2180 and is approaching the $0.2000 psychological support level. 

If ENA fails to hold at this key support, it could test the S1 Pivot Point at $0.1845. 

The synthetic dollar token is gaining bearish momentum, as indicated by the declining RSI to 33, which is close to the oversold zone. Meanwhile, the MACD falls below the signal line after the Monday crossover, indicating a rise in bearish pressure.

If ENA rebounds, it could run into the 50-day EMA at $0.3079 as immediate resistance.