Recent developments in the cryptocurrency market have resulted in a significant decline in altcoin prices, with Ethereum, Solana, and Sui among the most affected. Current support and resistance levels highlight the challenging situation these cryptocurrencies are facing.
Ethereum: Key Resistance and Support
Ethereum (ETH) is currently struggling to overcome a key resistance level at $2700. The price of ETH is hovering around $2650, indicating a 2% drop over the past day. The primary support level is at $2625, and if the price breaks below this level, further declines could occur, potentially down to $2500. Current data shows that ETH is under bearish pressure, making it vulnerable to additional losses.
Solana: Challenges in Recovery
Solana (SOL) is also showing weak performance, struggling to maintain the $170 mark. Currently, SOL is trading around $165, which is a critical level for potential recovery. If the price fails to break through resistance at $170, it may lead to further declines down to $164, which serves as an important support level. The current market situation indicates that SOL is facing significant difficulties in attempting to return to higher price levels.
Sui: Bearish Pressure
Sui (SUI) finds itself in an even more precarious position as its price fluctuates around the $2.00 mark. Existing bearish pressure is preventing SUI from overcoming resistance at $2.05. If SUI cannot hold the support at $2.00, it could lead to a drop down to $1.64, which represents a significant threshold for this cryptocurrency.
Conclusion
The situation in the altcoin market remains tense, with many investors awaiting potential changes in price trends. Ethereum, Solana, and Sui are facing serious challenges regarding key resistance and support levels that could determine their future on the market. Investors are advised to closely monitor price dynamics and be prepared for possible shifts in market sentiment.
