- Exchange supply of Ethereum has hit a multi-month low, signaling notable accumulation.
- Solana’s price is weakening as bears threaten to push it below $163–$165.
- ZEC lost 25% in the last 24 hours after several strong prior sessions.
On Tuesday the crypto market showed mixed action, with most tokens losing momentum after Monday’s gains.
The total market cap of all digital tokens fell about 2% over the past 24 hours to $3.51 trillion, while Bitcoin traded around $104,340.
This article reviews the current altcoin landscape, focusing on Ethereum, Solana and Zcash.
Ethereum’s exchange supply falls to a multi-month low
The second-largest cryptocurrency is showing a bullish catalyst amid broader market sluggishness.
Data from CryptoQuant indicate that the amount of Ethereum held on Binance, the largest exchange by volume, has steadily declined over recent sessions to levels last seen in May. Exchange reserves for ETH peaked in June and July and have trended down since.
Notably, this trend suggests assets are moving into private or cold wallets, which is bullish because it reduces potential sell-side pressure.
An analyst at CryptoQuant added:
If the current decline in Ethereum supply on Binance continues, we may see reduced liquidity available for selling. That could support price stabilization and possibly a return to an uptrend as market risk appetite improves.
Accordingly, Ethereum remains positioned for a notable recovery once the broader market resumes momentum.
Current whale activity signals investor confidence in a potential ETH rebound in the coming sessions.
ETH is trading at $3,544 after falling 1.75% over the past 24 hours.
Solana tests critical support
Solana traded lower today after losing more than 3% yesterday.
At the time of publication the token hovered around $162, sitting at a key support band that could determine its near-term trajectory.
Crypto analyst @LordOfAlts highlights a clear ascending trendline that SOL has tested several times, identifying reliable support in the $163–$165 area.
Solana is trading slightly below that barrier, indicating notable weakness.
A confirmed breakdown could trigger a sharper decline.
The next support zone for SOL sits near $155, below which it could fall toward the psychological $150 level.
Conversely, a recovery to $170 would shift Solana’s short-term bias back toward bullish territory.
Zcash leads the losers
Today ZEC recorded one of the steepest declines among major altcoins.
It dropped more than 25% as enthusiasm around privacy-focused tokens cooled and some traders booked profits.
ZEC trades around $485, with daily volume rising by more than 150%, highlighting heightened activity—likely profit-taking.
With bulls showing signs of exhaustion after a rally exceeding 275% in the past month, Zcash may experience further weakness.
Failure to hold above $488 could open the door to a deeper fall toward $371, roughly 23% below the current market price for ZEC.
Meanwhile, broader market sentiment continues to shape altcoin trends.
Bitcoin, which still sets the market tone amid uncertainty, trades near $104,501.
Inability to stay above $103,000 could prompt a drop toward the psychological $100,000 level, where buyers might catalyze a rebound.
Heavier selling pressure could push Bitcoin lower to the $90,000–$93,000 range.