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Global crypto prices are struggling to find a bottom as Bitcoin price keep on making lower lows every day. Since the launch of spot ETF, BTC price has experienced a deep correction of almost 20%. The situation of altcoins like Ethereum (ETH), Solana (SOL), Chainlink (LINK) and Celestia (TIA) is even worse as they are down 20%-30% from their 52-week highs.
It all started with a rejection from the $48,000-$49,000 zone as the major investors took the ETF news as an opportunity to book some profits. Since then, the pioneering cryptocurrency has been struggling to find a support level.
Consequently, BTC price dipped below the key psychological level of $40,000 on Monday night. Ethereum price also followed by retesting the $2,300 level. However, SUI and Chiliz (CHZ) prices remained green, surrounded by a bloodbath.
Both altcoins are up 7% and 4.6% in the last 24 hrs, suggesting an increased buying pressure and strength against Bitcoin. SUI price rebounded from the critical level of $1 and gained 10% after a strong rebound. Bittensor (TAO) and KAVA crypto also showed an increased interest from the buyers.
SUI Price Gains Another 3.77% On Tuesday
After a 1.19% uptick on Monday, SUI price continues its recovery on Tuesday. In fact, the price is once again trading above $1.11, which signifies a strong demand. However, there could be some selling around the $1.13 level which is a resistance on the 4H timeframe, as shown in the following SUI/USD chart.
https://www.tradingview.com/x/wIFCncdN/
Chiliz Dips Below $0.10 But Avoids Lower Low
Another altcoin which showed strength against BTC in yesterday’s crash was Chiliz (CHZ). As Bitcoin fell below $40k, almost all altcoins formed lower lows on their charts. However, this was not the case for CHZ price which formed a higher low and had a very strong recovery. If it reclaims the $0.10 level on the 4H timeframe, a retest of the monthly high will be on the cards.
https://www.tradingview.com/x/U8lmRz0L/
Celestia (TIA) Price Prediction
TIA crypto had a phenomenal run recently. However, the price has been in a correction since hitting its all-time high of $20.40 earlier this month. Due to the ongoing bearishness in the markets, Celestia (TIA) price is trading 25% below its ATH. To avoid more downside, $15 support level must be held.
https://www.tradingview.com/x/bjiGHMYD/
