Dear reader, prepare yourself for a rollercoaster ride of plummeting prices, Trump’s tariffs, and the ever-volatile world of cryptocurrencies! Our protagonists? Ethereum ($ETH), Solana ($SOL), and Sui ($SUI) – the leading layer 1s in this wild tale.
“Fearful Dump” for $ETH: A 35% Weekend Plunge!
Oh, the drama! Despite its larger market cap, $ETH took the hardest tumble, crashing 35% from its Saturday peak to its Monday bottom. The poor thing found solace at the major horizontal support of $2,150, with the 0.786 Fibonacci just below at $2,000. But, alas, is it time to buy $ETH again? Only if you’re prepared for a potential rollercoaster ride, dear reader!
$SOL: A 24% Fall and Flipping Supports!
Though not as dramatic as $ETH, $SOL still suffered a 24% fall over the weekend. This brave soldier plunged through the major $185 support and the 0.618 Fibonacci, only to recover and confirm the major $202 support as new resistance. With shorter-term Stochastic RSIs bottomed, the current bounce may continue, but beware the next major supports at $160 and $150!
$SUI: A 41% Correction – Will the Bounce Continue?
Our final hero, $SUI, experienced a whopping 41% correction in just a few days! The price came crashing down to the 0.618 Fibonacci, only to be rejected at the underside of the ascending bull market trend. But fear not, dear reader, for the weekly Stochastic RSI has also bottomed. Once this dip is absorbed, $SUI may once again lead the layer 1s higher!
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2025-02-03 18:09