Layer-1 Altcoins Price Analysis: Ethereum, Binance, Solana, Avalanche, Cardano

The recent sell-off in the U.S. and Asian markets has had a significant impact on the crypto market, with Bitcoin dropping below $63,000 and top layer-1 altcoins breaking below crucial support levels. This has created a buying opportunity for those looking to accumulate on the dip, but the question remains – will the altcoins be able to bounce back from this correction phase?

Let’s take a closer look at some of the top layer-1 altcoins and their price analysis:

Ethereum, the biggest layer-1 altcoin, experienced a bearish dive as Bitcoin’s price broke down. The altcoin is now trading below the $3,000 level and could potentially retest the $2,800 mark. However, a bounce back at the support trendline could drive prices back up to $4,000 post-halving.

Binance (BNB) has been relatively unaffected by the market correction, with prices showing a sideways trend. The altcoin is currently above the $500 psychological mark and could potentially see a reversal to the $650 level.

Solana (SOL), which was one of the top-performing altcoins earlier in the year, has seen a pullback that puts it below the $150 psychological mark. A potential fall to $100 is on the horizon, but a bounce back could bring prices up to $250 post-halving.

Avalanche (AVAX) surged to $60 before the crash but has since dropped to $50. The altcoin is at a pivotal stage with strong support at $29 and the potential for a bounce back to $75.

Cardano (ADA) almost reached $1 before the pullback led to a drop below $0.50. If buyers manage to turn things around, a potential bull run could see prices reclaim the $0.50 level and test $0.67.

In conclusion, while some layer-1 altcoins are showing signs of instant reversal opportunities, others are still finding solid footing for a turnaround. The ongoing market correction presents a buying opportunity for those looking to buy the dip and capitalize on potential future gains.