Crypto Market Update: Ethereum Stable While HBAR, SOL, SUI Post Gains

• Ethereum’s position near $2,634 may trigger an altcoin rally if it breaks above 3,000.
• HBAR, SOL, and SUI posted significant gains despite Bitcoin’s sideways action.
• ONDO and LINK are showing mixed trends with declining momentum but stable support zones.

Ethereum (ETH) is currently trading around $2,634, according to the latest one-month chart from CoinMarketCap. While this is below the previously watched $3,800 threshold, ETH has still managed to hold above key short-term support zones. And now, analysts note that a close above $3,000 and eventual movement toward $4,000 could spark broader altcoin rallies.

And although ETH hasn’t quite reclaimed its 20-week EMA (Exponential Moving Average) yet, clear signs of capital rotation are starting to pop up across major altcoins. Historically, an altseason often follows when ETH begins to outperform Bitcoin and holds key resistance levels — a trend traders are now watching closely.

HBAR, SOL, SUI Post Strong Gains

Several altcoins, including Hedera (HBAR), Solana (SOL), and Sui (SUI), have shown notable strength in recent weeks, even as Bitcoin remains range-bound. HBAR jumped over 23% in a single day, reaching as high as $0.2377 before pulling back. The rally followed increased development activity and broader ecosystem engagement.

Solana climbed past $172 on May 13, peaking at around $178.50 on May 24. However, it failed to break above the $180 resistance zone and now trades near $153.

Meanwhile, SUI bounced off a support trendline and reclaimed the $1.20 level, gaining nearly 5% over the weekend. These movements reflect early signs of capital shifting into mid-cap altcoins — a pattern often associated with the start of altseason.

Chainlink and Ondo: Earlier Surges Meet Recent Pullbacks

Chainlink (LINK) showed signs of strength earlier in May, climbing from $13.72 on May 6 to a monthly high of around $17.11 before reversing. The token has since pulled back and now trades near $13.70. The price chart shows a clear downtrend in the final days of May and into June. While derivatives volume reportedly dropped over 20%, indicating reduced trading interest, LINK remains above its early-month lows. Analysts still view the $12 zone as a key support level, though further downside is possible if broader market sentiment weakens.

ONDO showed strong performance in early and mid-May, briefly crossing above $1.10 before entering a downtrend. The token now trades around $0.83, marking a noticeable drop from its monthly high.

Related: Solana (SOL) Price Prediction for 3rd June 2025: Will $150 Hold or Is a Larger Breakdown Brewing?

While the price action earlier in May showed higher highs and higher lows, that structure broke near the end of the month. The current trend indicates lower highs and declining momentum. Despite earlier growth, ONDO has lost strength and now faces resistance near the $0.90 zone.

Altcoin Momentum Builds Amid Shifting Market Structure

Looking at recent trading patterns, it seems capital is gradually moving away from Bitcoin into a broader range of altcoins. Several mid- and large-cap tokens are establishing independent trends, no longer mirroring Bitcoin’s price moves as tightly. This separation in performance suggests growing confidence in specific projects rather than the general market.

Ethereum’s stability near its current support is helping sustain this shift, but other assets are also beginning to carry more weight in the market. With volatility clustering around select altcoins, trading volumes and liquidity are concentrating in ecosystems like Solana, Hedera, and Sui. 

Related: Ethereum (ETH) Price Prediction for 3rd June 2025: Can Bulls Reclaim the $2,500 Pivot Amid Ongoing Selling Pressure?

These shifts in flow dynamics reinforce the view that a broader altcoin cycle is taking shape — driven by utility, news cycles, and ecosystem engagement rather than Bitcoin’s dominance alone.