- Ethereum exchange supply reached multi-month lows, signaling significant accumulation.
- Solana price shows weakness as bears threaten a move below $163–$165.
- ZEC dropped 25% in the past 24 hours after strong gains over the prior sessions.
Cryptocurrencies delivered mixed results on Tuesday, with most tokens losing momentum after yesterday’s gains.
The total market value of all digital tokens fell about 2% over the last 24 hours to $3.51 trillion, while Bitcoin hovered near $104,340.
This article reviews the current altcoin landscape by analyzing Ethereum, Solana and Zcash.
Ethereum exchange supply hits record lows
The second-largest cryptocurrency shows a constructive catalyst amid broader market lethargy.
Data from CryptoQuant indicates the amount of Ethereum held on top exchanges, measured on Binance by volume, has plunged consistently in recent sessions and is now at levels not seen since last May.
ETH reserves on exchanges peaked in June and July before steadily declining.
This trend points to movements of assets into private or cold wallets, which is bullish because it reduces potential sell-side pressure.
As CryptoQuant commented, if the current decline in Ethereum supply on Binance continues, liquidity available for selling could shrink. Reduced liquidity may support price stabilization and possibly a return to an upward trend as market risk appetite improves.
As a result, Ethereum remains positioned for a notable recovery once the broader market regains momentum.
Recent whale activity also signals investor conviction in ETH’s potential upside in upcoming sessions.
ETH trades around $3,544 after a 1.75% drop in the last 24 hours.
Solana tests crucial support
SOL traded in the red today after losing more than 3% of its value the previous day.
Floating near $162 at the time of publication, the token sits within a key support zone that could determine its direction in coming sessions.
Crypto analyst @LordOfAlts highlights a visible ascending trendline that SOL has tested multiple times, confirming sturdy support in the $163–$165 area.
Solana trading just below this barrier suggests notable weakness. A confirmed breakdown could trigger larger declines.
The next support sits at $155, below which SOL could tumble toward the psychological $150 level.
Conversely, reclaiming $170 would likely shift Solana’s short-term bias back to bullish.
Zcash leads the downside
ZEC posted one of the steepest daily losses among major altcoins.
It lost over 25% of its value amid waning privacy-coin hype and profit-taking after recent rallies.
ZEC trades near $485 with daily volume up more than 150%, highlighting elevated activity that likely reflects sellers locking in gains.
After soaring more than 275% in the past month, Zcash remains vulnerable to further downside amid exhausted buyers.
Failure to stabilize above $488 could open the door to a deeper decline toward $371, roughly a 23% drop from current levels.
Meanwhile, the broader market mood continues to influence altcoin trends.
Bitcoin, which sets the market tone amid ongoing uncertainty, trades around $104,501.
If BTC cannot hold above $103,000, it may slip toward the psychological $100,000 mark, where buyers could step in and support a rebound.
Stronger selling pressure might push Bitcoin down to the $90,000–$93,000 range.