- BTC pushes towards $86k resistance after holding ~$83.6k support
- ETH consolidates below $1920 resistance, holding ~$1854-$1874 support
- ADA, SOL, SUI also test key near-term support & resistance levels
The cryptocurrency market saw mixed movements Wednesday as Bitcoin (BTC) maintained its upward trajectory. Ethereum (ETH), however, faced resistance after an early price surge.
Other major altcoins, including Cardano (ADA), Solana (SOL), and Sui (SUI), displayed varying short-term trends. Some struggled to hold key support levels. Market activity remained high overall, reflecting investor uncertainty over the next potential market breakout direction.
Bitcoin Eyes Resistance
Bitcoin continued its recent uptrend Wednesday, reaching $85,695.20, for a 2.41% daily increase at press time.
The cryptocurrency surged from a low near $83,650 earlier, reinforcing this level as key immediate support. If BTC dips below this $83.6k level, further support may emerge around $82,500, where past price consolidations occurred.
Immediate resistance is currently near the recent high of $85,700. A decisive breakout above this could see Bitcoin targeting the $86,000–$87,000 range next, where increased selling pressure may emerge. Holding above $85,500 suggests sustained near-term bullish momentum remains for BTC.
Ethereum Faces Resistance After Initial Surge
Ethereum experienced fluctuations during the period. It initially rose to $1,920 before facing selling resistance there.
The price then declined towards $1,874, confirming this as a critical short-term support zone.
Currently, ETH is trading at $1,880.12, reflecting a modest 0.34% gain. If Ethereum breaks past $1,920, it could climb toward the $1,950–$1,980 range. However, failure to hold above $1,874 may lead to a further drop toward $1,850. The consolidation suggests indecision, with traders watching for a breakout direction.
Related: Crypto’s Odd Rally: SUI, SOL, LINK, ONDO, LTC, HBAR, AAVE, and ADA Surge Despite Bitcoin’s Dip
Cardano Attempts Recovery as Resistance Looms
Cardano (ADA) maintained an upward trend earlier before facing resistance near the $0.690 level.
The cryptocurrency then dropped back to $0.660, establishing this level as key immediate support. ADA now trades near $0.6864, up 1.07% over the last 24 hours.
If ADA breaches the $0.690 resistance level, a rise towards the $0.70–$0.72 zone is technically possible. Conversely, a drop below the $0.660 support could push the price down to test $0.650, a psychological level that might attract buyers. The recent price movement suggests bulls attempt another breakout try soon.
Solana Struggles to Hold Key Levels
Solana (SOL) saw a slight decline recently, dropping 0.53% to trade near $126.96.
The price initially surged past $128 but later retreated. Current support is found around the $124 level. Further declines could bring SOL down to the $120–$122 range, an area of historical buying interest.
Resistance near $128.05 remains crucial for SOL bulls to overcome. A breakout above could push prices towards the $130–$132 area next. A short-term bullish reversal remains possible if SOL maintains stability above current support levels.
Related: Altseason Watch: XRP, ADA, SUI Lead Price Surge Plus Five More to Watch
Sui Gains Momentum with Increased Trading Activity
Sui (SUI) saw a 1.57% price increase recently, trading near $2.46. The cryptocurrency rebounded from identified support at $2.43 and peaked briefly above $2.50 before consolidating slightly.
On the downside, a decline below the $2.43 support could see the price drop toward $2.35. The token’s 24-hour trading volume rose 9.62% to over $1 billion, signaling increased trading interest and suggesting potential for continued price volatility.
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