- Ethereum struggles at $2,065, with $2,000 as a key support level to watch.
- Solana faces selling pressure, needing to reclaim $130 for bullish momentum.
- Avalanche risks further decline if it fails to hold above the $17.50 support zone.
The cryptocurrency market is experiencing significant volatility, raising concerns among investors. Ethereum (ETH), Solana (SOL), Cardano (ADA), Avalanche (AVAX), and Sui (SUI) have all faced steep declines over the past 24 hours.
Besides, the rising trading volume suggests a wave of panic selling. These digital assets are now at a crucial juncture where their next move could dictate the broader market trend.
Ethereum Faces Critical Support Levels
Ethereum’s price has dipped to $2,065.72, marking a 5.25% decline. It dropped from $2,183 to a low of $2,050 before experiencing a slight recovery. The trading volume has surged by over 120%, indicating heightened market activity.
Key support levels include the $2,000 psychological barrier. If breached, the price could slide to $1,950 or lower. Resistance at $2,100 must be reclaimed to initiate a potential recovery. A further push beyond $2,180 could signal renewed bullish momentum.
Solana Struggles Amid Heavy Selling Pressure
Solana has seen an 8.09% decline, with its price falling to $127.29. It experienced a low of $122 before recovering slightly. The increased 24-hour trading volume, up by 114%, suggests significant market activity.
Support is present at $122, but a drop below could lead to further losses toward $110. Resistance at $130 needs to be overcome to indicate a bullish reversal. If SOL breaks beyond $138, it could pave the way for further gains.
Cardano Battles to Maintain Key Levels
Cardano’s price has dropped 9.04%, trading at $0.7388. It fell from $0.8125 and briefly hit a low of $0.72 before bouncing slightly. The market remains under strong selling pressure, with a 59.84% increase in trading volume.
Key support lies at $0.72, followed by a critical level at $0.70. If ADA manages to stay above $0.73, a potential rebound toward $0.75 could be possible. Overcoming $0.80 would confirm a stronger recovery trend.
Avalanche Faces a Key Test at $17.50
Avalanche has plummeted by 9.29%, currently priced at $18.25. It fell from $20.12, reaching an intraday low of $17.50 before a minor rebound. Trading volume has risen by over 30%, indicating increased market participation.
If AVAX breaks below $17.50, it may decline further toward $16.00. A recovery above $19.00 could push the price toward $20.50, signaling a possible reversal.
Sui Attempts to Hold Above $2.30
Sui has dropped by 5.22%, currently priced at $2.36. After hitting a low of $2.28, the price showed minor signs of recovery. Trading volume has surged by 76.35%, suggesting heightened market activity.
Support at $2.30 remains crucial; a breakdown could push SUI toward $2.20. Resistance at $2.40 must be breached for an upward trend. A rally above $2.50 would indicate strong bullish interest.
