Altcoin performance is under close scrutiny, especially given the volatility observed in June. While Bitcoin (BTC), the largest cryptocurrency, currently 25% away from reaching a new all-time high (ATH), altcoins are nearly 100% removed from their previous ATHs. This significant gap raises about whether altcoins can reach their previous highs soon. Let’s now examine the price movements of two key altcoins: Ethereum (ETH) and Solana (SOLEthereum Analysis
According to Crypto World analyst Josh, Ethereum‘s price is currently encountering resistance at a Fibonacci level around $3,480, which previously acted support. Ethereum recently rebounded from the 50% retracement level to approximately $3,, now serving as support. Further support can be found in the range of $3,180 to $3,220.
In the short term, Ethereum’s trend and momentum to show a downward trend similar to Bitcoin’s; however this does not necessarily indicate continuous decline but rather temporary bounces and periods of horizontal consolidation that may be expected over the next few days. On the 12-hour chart, there is an active bullish divergence indicated by lower lows in price matched with higher lows in RSI.
Currently facing resistance around $3,450 and between $3,600 and $3,650—known as golden pocket resistance—support for Ethereum hovers around $3.300.
Solana Analysis
Turning our attention towards another leading altcoin – Solana‘s SOL—technical data indicates a new breakout above resistance at $140-144 which is presently undergoing retesting . If Solana holds above $140 it could establish a support level potentially leading to an increase towards$160; failure could result in falling back to the of$120-128.
In summary while major altcoins like ETH and SOL remain far from previous ATHs it will bely important monitoring their performance over coming weeks Their ability surpassing resistance levels set up new supports will determine if downward trends turn.
