- Ethereum exchange supply hits multi‑month lows, signaling heavy accumulation.
- Solana weakens as bears threaten a break below the $163–$165 support zone.
- ZEC plunged 25% over the past 24 hours after a strong rally in prior sessions.
Cryptocurrency performance on Tuesday was mixed, with most tokens losing momentum after gains the previous day.
Over the past 24 hours, the total market capitalization of digital assets fell by about 2%, standing near $3.51 trillion, while Bitcoin traded around $104,340.
This article examines the current altcoin landscape by analyzing Ethereum, Solana and Zcash.
Ethereum exchange supply falls to a record low
The second-largest cryptocurrency is showing a bullish catalyst despite a sluggish broader market.
Data from CryptoQuant shows the amount of Ethereum held on leading exchange Binance has fallen sharply over recent trading sessions and is now at levels last seen in May. Exchange ETH reserves peaked in June and July and have since trended steadily lower.
This trend indicates ETH is moving into private or cold wallets, which is bullish because it reduces immediate sell-side pressure.
CryptoQuant analysts noted that if Binance’s ETH supply continues to decline, available liquidity for sale could shrink. That reduction in sell-side liquidity may help support price stability and, combined with improved market risk appetite, could enable a return to an uptrend.
Given these on‑chain signals, Ethereum appears well positioned for a meaningful recovery once broader market momentum returns. Current whale activity suggests investors are confident in a potential rebound in the coming sessions.
ETH traded at $3,544 after a 1.75% decline over the past 24 hours.
Solana tests critical support
Solana fell after a more than 3% drop the previous day and is now trading near key support.
At the time of writing, SOL hovered around $162 and was sitting at a crucial support zone that will likely determine its direction over the next few trading days.
On‑chain and technical observers highlighted a visible rising trendline tested multiple times, confirming strong support in the $163–$165 area.
Price trading just below that level indicates clear weakness, and a confirmed break could trigger a deeper decline. The next support zone is around $155, and a breach below that could push SOL toward the psychological $150 level.
Conversely, reclaiming $170 would shift short‑term bias back toward the bulls.
Zcash leads the declines
Zcash posted one of the day’s steepest losses.
After a speculative run, the privacy-focused token retraced sharply, dropping more than 25% as profit‑taking accelerated.
ZEC traded near $485 as daily volume surged more than 150%, indicating intensified selling from short‑term traders locking in gains.
Having rallied over 275% in the past month, Zcash appears vulnerable to further downside as bullish momentum wanes. Failure to hold above $488 could open the door to a drop toward $371, roughly a 23% decline from current market levels.
Broader market sentiment continues to influence altcoin trends. Bitcoin, which sets the tone for the market amid uncertainty, was trading around $104,501.
If Bitcoin fails to stay above $103,000 it could slide toward the $100,000 psychological level, which might attract buyers and spark a rebound. A deeper increase in selling pressure, however, could push BTC down to the $90,000–$93,000 range, weighing further on altcoins.