- Ethereum breakout above $5K could trigger a major altcoin rally.
- Solana shows strength, rebounding near $185 amid market consolidation.
- SHIB and DOGE face pressure, but accumulation by long-term holders persists.
Market analyst Ash Crypto notes that the largest altcoin gains tend to follow new Ethereum highs, citing 2021 when ETH breakouts preceded strong runs in MATIC, MANA, SHIB, DOGE, and SOL.
The market now watches $5,000 on ETH as the next trigger. Altcoins consolidate and wait for a directional signal from Ethereum, which remains the key risk barometer for breadth.
Altcoin Market Eyes Ethereum for Direction
Altcoins are currently consolidating, awaiting clear signals from Ethereum’s price action. Polygon’s (POL) price has declined 1.79% this week to $0.1884 after failing to hold gains above the $0.21 resistance zone.
The token remains trapped in a tight range between $0.18 and $0.21, showing fading momentum and weakening volume. Maintaining support above $0.18 is essential to avoid further downside toward $0.17.
Related: 5 Signs That Tells Altseason Is About to Commence—What Are They?
Similarly, Decentraland’s (MANA) price has dropped over 6% this week, now trading near $0.226. The token is testing a critical support area around $0.22, where buyers are attempting to stabilize the decline. A decisive recovery above $0.25 could restore momentum, while failure to hold $0.22 might expose $0.20 as the next key level.
Meme Coins Face Pressure but Accumulation Persists
Shiba Inu (SHIB) has fallen 4.46% over the week to around $0.000009789, marking a loss of short-term bullish structure. The token continues to trade below major moving averages, signaling ongoing weakness.
However, a slight increase in market capitalization suggests that long-term holders are still accumulating. If SHIB holds above $0.0000095, it could rebound toward $0.0000103 in the short term.
Dogecoin (DOGE) also remains under pressure, down 1.45% at $0.1866. The key support at $0.18 continues to hold, though momentum has faded since its failed breakout above $0.21. A strong close above that level would shift sentiment back to bullish and could target $0.24.
Solana Stands Out Amid Market Calm
Among major altcoins, Solana (SOL) shows relative strength, trading near $185 after rebounding from $183. The token’s stability within the $180–$200 range indicates ongoing accumulation despite market consolidation. A breakout above $200 would confirm renewed bullish momentum and may signal the early stages of an altseason if Ethereum follows with a decisive breakout above $5,000.
Related: Altseason 2025 Setup Builds as Bitcoin Dominance Slows, Analysts Eye Rotation
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
