The cryptocurrency market is experiencing significant selling pressure, raising concerns about potential further price drops. Ethereum (ETH), Solana (SOL), Cardano (ADA), and Avalanche (AVAX) show weakness, with their key support levels at risk.
Ethereum (ETH) Analysis
Ethereum (ETH) is currently trading at $2,065.75 after a sharp 5.43% decline. The price initially started at $2,183.2 but soon faced strong selling pressure. The nearest support level appears to be at $2,000, a key psychological level that could determine the next price movement.
Current Trends in Solana (SOL)
Solana's (SOL) bearish trend persists as the price struggles to hold support near $122-$124. Current dynamics are concerning to investors due to the potential breakthrough of key resistance levels and further price declines.
Cardano (ADA) and Avalanche (AVAX): Support Levels
Cardano (ADA) and Avalanche (AVAX) continue to show weakness. Their key support levels are at risk, which could lead to further declines if they do not hold their current positions. Investors are watching these levels closely, awaiting potential changes in price dynamics.
The current price analysis shows that Ethereum, Solana, Cardano, and Avalanche are facing significant pressure on their prices. Key support levels are at risk, requiring attention from investors who are closely watching for possible market changes.
