As Bitcoin continues to trade strongly, altcoins are showing signals of potential breakout. Ethereum (ETH), Sui (SUI), XRP, Chainlink (LINK), and Solana (SOL) all show distinct price actions in the past 24 hours. Some tokens suggest bullish momentum, while others are stuck in a brief consolidation phase.
Notably, the spike in trading volume across major altcoins indicates new market interest, suggesting upcoming volatility. Investors are closely monitoring key price levels that could determine the next major moves in the cryptocurrency market.
Ethereum leads the recovery of Altcoins with volume surging over 57%.
Ethereum experienced a strong recovery, opening at around $1,803.90 before dropping to nearly $1,755. However, a price surge late in the session lifted the price to $1,816.76, marking a 0.62% increase. Support remains solid in the $1,755 to $1,760 range, while resistance closes near $1,816–$1,818.
Trading volume surged by 57.21%, reinforcing the breakout setup of ETH. A daily close above $1,818 with solid trading volume signals a continuation towards higher targets. Trading within the range of $1,780 to $1,803 remains a pullback.
Sui maintains a crucial support level despite the early week trading session decline.
Sui started the trading day strong, peaking at $3.78 before sliding into a downward trend. Currently, the trading price is at $3.53, down 2.37%. The immediate support level remains solid at $3.49-$3.50, while the existing resistance level is at $3.62.
Furthermore, trading volume increased by 56.39%, indicating heightened participation despite the price decline. Therefore, a break below $3.50 could push SUI down to $3.45. Conversely, reclaiming $3.63 could refresh bullish momentum and target a retest of $3.78.
XRP tests the support level of $2.25 as buying pressure wanes.
XRP shows an initial bullish trend but fails to maintain the highs, slightly declining 0.41% to $2.27. The key support at $2.25-$2.26 remains very important, while the resistance at $2.30 limits upward momentum.
Additionally, the trading volume decreased by 8.73%, indicating a downward momentum. Therefore, XRP must stay above $2.25 to avoid further decline to $2.22. A breakout above $2.30 could revive the bullish narrative and retest the peak of $2.34.
Chainlink is creating resistance pressure as the volume spikes signal buyer interest.
Chainlink has caught attention with a solid 1.41% increase for the day, finishing at $15.15 after bouncing from a low of $14.50. Solid support is in the range of $14.50 to $14.55, while resistance at $15.20 is ready to be challenged.
Moreover, the 20.19% spike in volume reinforces the bullish trend. If LINK breaks the $15.20 level, it may quickly target $15.35. However, if it fails to break this level, the price could drop to $14.80.
Solana struggles to regain lost ground after a sharp decline.
Solana faces strong selling pressure, down 2.07% and closing at $147.96 after rising to $152 at the start of the session. The key support level is at $145.50-$146.00, while the main resistance is set at $150.90.
Despite the volume increasing by 57.02%, sellers currently dominate. Therefore, SOL must reclaim $150.90 to regain upward momentum. Otherwise, the risk of retesting $145 or lower remains.
