Crispr Therapeutics shares tumble after significant earnings miss
- Crypto market slipped over 5% as Bitcoin lagged and altcoins dropped 8% on average.
- Ethereum struggled below $3,900; institutional interest grows but resistance holds firm.
- Solana and Litecoin eye key breakouts; near-term resistances may shape trend direction.
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The crypto market ended its five-week winning streak with a drop of over 5% last week. Bitcoin performed worse than the overall market, and altcoins fell even more, with an average decline of 8%. This week, cryptocurrencies are showing more strength, suggesting that last week’s pullback may not continue for long. Still, they have not yet broken through key resistance levels needed to confirm a new upward trend.
1. Ethereum
Last week, Ethereum tried but failed again to move above the $3,900 level and dropped back to around $3,400. As August began, buying interest from this lower level pushed prices back up, but the recovery has been slow and cautious.
One notable trend is increased activity from big investors. Data from Santiment shows a rise in the number of wallets holding 10,000 ETH or more. Demand for Ethereum-based investment products also remains strong. Still, Ethereum is having a hard time breaking past the $3,900 resistance. This shows that broader concerns—like the US economic outlook and global trade tensions—are making investors more cautious.
Ethereum is currently moving sideways between $3,450 and $3,980. Within this range, $3,700 is acting as a key resistance. If ETH closes above $3,700 on the daily chart, it could try to test the main resistance again. Right now though, buying pressure still looks too weak to break through. The daily Stochastic RSI shows there could be another attempt to move past $3,700. For the uptrend to continue, Ethereum likely needs to close the week above $4,000.
If ETH fails to break $3,700, selling pressure may increase. In that case, the $3,450–$3,500 range becomes important support. If this zone breaks, a deeper correction is likely. The weekly Stochastic RSI remains flat in the overbought zone and may start heading down if ETH drops below $3,450. If that happens, prices could fall toward $3,000, and possibly even to $2,500.
In short, Ethereum’s short- to medium-term outlook depends on how long institutional buying continues. But overall, macroeconomic factors are still the biggest influence on whether ETH breaks out of its current range.
2. Solana
Solana failed to hold above $200 in late July and entered a deeper correction. After breaking below the $183 support level, it dropped to the next support zone between $160 and $165.
This week, Solana is trying to recover above $165, but the move is not yet confirmed. If it can break the short-term downtrend, it may retest $183. For the correction to end, Solana needs a daily close above $172, followed by a move above $183. If that happens, a push past $202 could lead to a rally toward $230. The daily Stochastic RSI is starting to turn upward, but a stronger signal will come if SOL climbs above $172.
On the downside, if Solana fails to break the downtrend, a fall below $165 could send it toward $142.
3. Litecoin
Litecoin ended its correction quickly in late July, finding strong support at $105 in early August and showing stronger performance than the rest of the market.
Since yesterday, Litecoin has surged sharply, recovering recent losses. To keep the uptrend going, $125 is the first support to watch. If there is profit-taking, the price could pull back to around $115. So the $115–$125 range will act as a key support zone for now. As long as Litecoin stays above $125, it may continue rising toward $155.
The $130–$135 range, which was tested earlier this year, is now a major resistance zone. A weekly close above $135 would signal a breakout from its 2025 trading range and could strengthen the upward trend. But if it fails to break this resistance, short-term gains could quickly disappear.
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Disclaimer: This article is written for informational purposes only. It is not intended to encourage the purchase of assets in any way, nor does it constitute a solicitation, offer, recommendation or suggestion to invest. I would like to remind you that all assets are evaluated from multiple perspectives and are highly risky, so any investment decision and the associated risk belongs to the investor. We also do not provide any investment advisory services.