The #Altcoinmarket is experiencing a decline, with Ethereum (#ETH🔥🔥🔥🔥 ), Solana ($SOL ), and Sui (#SUI🔥 ) leading the downward trend. All of these tokens have hit resistance and support levels, preventing further price growth, as their charts show clear bearish patterns. Market volatility is affecting their short-term outlook.
Ethereum Sees Price Drop, Support at $2,625
Ethereum ($ETH ), the second-largest cryptocurrency by market capitalization, has dropped 3.26% over the past 24 hours and is currently trading at $2,646.96. Its price has been falling from a peak of $2,737, as selling pressure continues to weigh on the market. This level now acts as a significant resistance, along with the $2,700 mark.
Ethereum has found short-term support near the $2,625 level, where buyers stepped in as the price dipped below this point. If this support holds, the price could stabilize, but if it fails, the next drop could take it down to $2,600.
The market is at a critical point, with traders closely watching the levels around $2,700 and $2,737 for signs of a trend reversal.
Solana Faces Key Resistance at $170
Solana (SOL) is currently trading at $168.44, following a 0.82% decline over the past 24 hours. Its price has gradually decreased from a high of $170.10, reflecting the bearish sentiment in the market.
After hitting a low of $164, Solana has slightly recovered, but the $170 level remains a strong resistance. The $164 mark serves as critical support, which buyers have managed to maintain so far. If the price falls below this level, Solana may face further pressure and could test the $160 level. For a recovery, Solana must break through the $170 resistance, with the next target at $175.
Sui Struggles to Hold Support at $2.00
Sui ($SUI ) has seen a significant drop of 5.09% and is currently trading at $2.02. The price of Sui has been falling from a high of $2.1268, with the $2.00 mark serving as a key psychological support. Buyers have so far managed to hold this level, but if the price falls below $2.00, it could trigger further declines.
Sui also faces resistance at $2.05, a level that has been tested multiple times without success. If the price breaks above $2.05, it could move toward $2.12, where the previous decline began.
#Altcoins👀🚀 , #Solana_Blockchain
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