The critical process continues in the altcoin market, Many altcoins have bottomed out on Binance, Etheruem ( ETH), will it find strength at $ 1600?
Arbitrum ( ARB), Pepe ( PEPE), Sui ( SUI) and ApeCoin ( APE Many cryptocurrencies such as ) are getting closer to their listing price on Binance. The negative progress of the news flow in the sector and Ethereum ( ETH ) price watching at an important support point is undermining altcoins. The admiral of altcoins, which was rejected at $ 1670 and retreated to the $ 1600 band, may face further declines if it cannot find support.
Eyes on $1600!
ETH, which was dominated by sellers after failing to overcome the $1635 – $1646 range, is moving towards the $1602 support. Since there is currently no force that can push the market up, risks for altcoins are increasing. If ETH cannot find a buyer at $1602, it may bring the price up to $1580 – 1550 and $1511 respectively. Altcoins, whose dominance level has already been crushed by the price of BTC and ETH, may lose blood in such a scenario.
The arrival of news that can turn the market positive or the volume exceeding $ 1646 will naturally add strength to the ETH price. In such a scenario, altcoins will go green, increasing the demand for crypto investors. On the technical side, the resistance levels to follow will be 1665 – 1700 – 1726 and 1746 dollars, respectively.
