- Ethereum’s support at $3,175 is crucial for potential rebound toward resistance levels.
- Solana’s price stabilization above $182 could trigger a retest of key resistances.
- Dogecoin’s immediate support at $0.325 is vital for avoiding further price decline.
Understanding key price levels is crucial for altcoin traders. Recent price action for Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), XRP, and Cardano (ADA) shows significant fluctuations, potentially influencing market sentiment in the short-term. These altcoins face varying degrees of resistance and support, making it essential to monitor key price points.
Ethereum (ETH) Price Action and Key Levels
Ethereum’s price has experienced a slight decline of 2.18%, dropping to $3,198.64. This downtrend follows a brief upward movement earlier in the day. Despite this, trading volume surged by 47.04%, reaching $16.39B, suggesting an increase in market activity.
ETH finds immediate support at $3,175, with additional levels at $3,150 and $3,100. Resistance lies at $3,325 and $3,268. If Ethereum stays above $3,175, a rebound is possible.
Solana (SOL) Price Trends and Key Price Points
Solana (SOL) has faced a 1.99% decline, closing at $182.63. This follows a brief rally, and the price has been struggling to maintain upward momentum. With trading volume increasing by 7.54%, market activity remains elevated.
Immediate support for SOL is at $182, with $180 and $175 acting as further support levels. On the resistance side, SOL is encountering selling pressure at $192, the recent high, and $186, an intermediate resistance. If the price stabilizes above $182, traders could see a retest of the resistance levels at $186 and $192.
Related: 4 Altcoins Shaking Off the Slump: Bullish Reversals in Sight?
Dogecoin (DOGE): A Bearish Trend with Support Levels in Focus
Dogecoin (DOGE) has been under pressure, with a 3.38% decline bringing the price down to $0.3287. The chart shows a bearish trend with lower highs and lows, accompanied by a 15.90% surge in trading volume. The immediate support level for DOGE is $0.325, followed by $0.320 and $0.310.
On the resistance side, $0.345 represents a significant level, while $0.340 and $0.335 are intermediate resistances. A recovery above $0.325 could lead to a test of higher resistance levels, but a breakdown could push the price toward $0.310.
XRP and Cardano (ADA) Key Levels to Watch
XRP is currently trading at $2.47, down 2.19%. The price is testing support at $2.450, with additional support at $2.425 and $2.400.
Related: Solana’s SOL/ETH Ratio at 3-Month Low, Analyst Expects Further Decline
Resistance is found at $2.526 and $2.500. If XRP rebounds from the current level, it could aim for a retest of these resistance levels.
Cardano (ADA) has also seen a 6.15% decline, trading at $0.9396. The price has fallen significantly, with support at $0.930 and $0.920.
Resistance lies at $1.000 and $0.975. ADA’s future depends on whether it can hold above $0.930.
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