Analyzing cryptocurrencies at the start of Q3 shows Bitcoin recovering key levels while other altcoins are undergoing changes.
Bitcoin Market Overview
Bitcoin has bounced back, reclaiming key levels. The Federal Reserve's firm stance adds to economic uncertainty. Market interest has shifted to major altcoins that may produce significant growth.
Ethereum Price Analysis
Over the past month, Ethereum saw a minor decline of about 0.15% with a weekly drop nearing 9%. This indicates short-term pressure. Over the last six months, the coin tumbled roughly 27% from earlier highs. The current price oscillates between $1920 and $2960, with immediate support at $1318.72 and resistance at $3395.40. Indicators show negative values, suggesting a bearish outlook. Investors should exercise caution and wait for clear trends before committing.
Solana and Cardano Market Update
Solana experienced a notable decline with a one-month drop of about 12% and a six-month fall of nearly 25%. Current price activity is seen between $136 and $182, with nearest support at $115.84. Cardano also faced a 19% drop for the month and a 36.5% decrease over six months. Its price is currently between $0.5967 and $0.8187, with support at $0.5083 and resistance at $0.9523. Both cryptocurrencies are showing bearish trends, prompting cautious actions from traders based on support and resistance levels.
Bitcoin is exhibiting signs of recovery but the Fed's position keeps the market in suspense. Gradual growth for Ethereum is likely, with active Solana and a steady path for Cardano. The broader market remains cautious, but there is potential for growth in key altcoins.
