The current state of the cryptocurrency market shows differing trends, especially between Bitcoin and altcoins. While Bitcoin remains stable, many altcoins are experiencing significant declines.
Overall Market Situation
Currently, Bitcoin is hovering around $118,000, while altcoins continue to show a decline. Many altcoins that previously showed a rise of about 10% are now losing value, raising concerns among traders and investors.
Analysis of BNB, AVAX, and SOL
BNB Coin recently reached a new record, surpassing the $810 mark, but a significant drop in Ethereum's price could lead to further losses for altcoin/BTC pairs. Possible new lows could range from $722 to $686.
AVAX has continued to show failures, unable to surpass the $27 mark and now targeting the $22.5-22 range. If the situation does not change, a drop to $19.7 is possible.
Solana (SOL) is also facing challenges, failing to hold the support level at $203 and trying to stabilize around $189. If this fails, the price may drop to $177 and $165.
Situation with Dogecoin
Dogecoin also faced losses, dropping by 8% to $0.243. Analyst Ali Martinez suggests that if the price bounces above $0.4, it might lead to recoveries. However, if the forecast is incorrect, prices could drop to $0.18 and $0.145 by August 1.
The current uncertainty in the cryptocurrency market continues to raise concerns. Traders and investors are closely monitoring the situation, especially the movements of altcoins like BNB, AVAX, and SOL, as well as Dogecoin, to assess opportunities for future trading strategies.
