Price: $0.38893 2.0513%
Market Cap: 57.13B 1.7413%
Volume (24h): 8.76B 0.4%
Dominance: 1.7413%
Price: $0.38893 2.0513%
Market Cap: 57.13B 1.7413%
Volume (24h): 8.76B 0.4%
Dominance: 1.7413% 1.7413%
  • Price: $0.38893 2.0513%
  • Market Cap: 57.13B 1.7413%
  • Volume (24h): 8.76B 0.4%
  • Dominance: 1.7413% 1.7413%
  • Price: $0.38893 2.0513%
Home > Information news > Cryptocurrencies Experience Sharp Declines

Cryptocurrencies Experience Sharp Declines

Release: 2024/07/26 05:03 Reading: 808

Original author:BH NEWS

Original source:https://coinmarketcap.com/community/articles/66a2b81b0f7e8a5722467502

Cryptocurrencies Experience Sharp Declines

Significant Declines Hit Cryptocurrency Market

Amidst swirling turbulence, major altcoins have plunged around 10%, casting a pall over the cryptocurrency sector as the week draws to a close. The swiftness of these losses, contrasting with gradual gains, signals growing investor anxiety. Here's a closer look at the performance and outlook of prominent altcoins like SOL, XRP, BNB, and PEPE Coin.

SOL Coin's Recent Plunge

SOL Coin has plummeted over 6%, trading at around $167, due to short-term jitters. A breach below the $162 support could trigger a further decline to $128. However, staying within its present range may result in fluctuations between the $180 resistance and $162 support. Upcoming events, such as the ETH ETF and SOL ETF applications, could shape its future trajectory.

XRP Coin's Struggles

XRP Coin has faltered below the $0.6 mark, facing risks of sliding back to supports at $0.54 and $0.48. Investor apprehension is evident, exacerbated by Bitcoin's inability to reclaim the crucial $65,000 support. This negativity could drive XRP prices further down.

BNB Coin's Critical Zones

BNB Coin recently reached an all-time high of $720 but has since retreated due to market pessimism. A dip below $545 could lead to a decline to $480. For a potential rally, BNB must breach the $600 safe zone and surpass the $635 resistance level before aiming for another ATH.

PEPE Coin's Challenges

PEPE Coin, a popular meme coin, teeters on the brink of losing its $0.0000112 support. A break below could trigger sharper declines to $0.00000996 and $0.00000825. To reverse its downward spiral, PEPE Coin needs to close above $0.0000128. Market downturns have significantly impacted its performance despite its popularity.

Key Insights:

  • Monitor SOL Coin's $162 support; a breach could signal a drop to $128.
  • Observe XRP's behavior around $0.6; failure to hold could lead to further declines.
  • BNB requires surpassing $600 for bullish momentum; losing $545 could be bearish.
  • PEPE Coin's survival depends on holding $0.0000112 support; closures above $0.0000128 are vital for recovery.

The cryptocurrency market remains volatile, with substantial price decreases across major altcoins. Investors should diligently monitor support and resistance levels, as breaches can indicate potential downturns or recovery points.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.