Ethereum News Today: Ethereum and BNB Show Resilience Amid Broader Crypto Sell-Off and Bitcoin Drop Below $115,000

Recent volatility in the cryptocurrency market has drawn attention to the potential for Ethereum (ETH) and Binance Coin (BNB) to lead a recovery, despite a broad sell-off triggered by Bitcoin’s drop below $115,000 on August 1, 2025 [1]. The decline led to a widespread selloff, with major altcoins such as XRP and Solana also falling significantly, while the total crypto market cap dropped to $3.7 trillion within 24 hours [1]. Traders reported over $850 million in liquidations as leveraged long positions were unwound amid heightened risk-off sentiment aligned with traditional markets like the Nasdaq [1].

Ethereum recorded a 37.35% gain for the month and a 23.18% rise over six months, indicating strong underlying momentum. However, it faced a 5.09% correction in the past week, currently trading between $2,737.42 and $4,302.16. Key resistance and support levels have become focal points for traders, with immediate resistance at $4,904.20 and support at $1,774.72. A potential break above the second-tier resistance at $6,468.94 could signal a more robust recovery phase [1].

BNB demonstrated relative stability, with a monthly increase of 16.61% and six-month growth of 24.65%. It saw a minor 1.94% drop in the last week but remains within a range of $664.60 to $881.30. The coin’s next resistance is at $979.60, with support holding firm near $546.20. BNB’s performance suggests a balanced market with bulls and bears in a relatively even standoff, according to an RSI reading of 55.64 and an Awesome Oscillator at 64.37 [1].

The broader market downturn reflects a consolidation phase, historically marked by profit-taking and potential for a rebound after stabilization. CryptoQuant’s data supports this pattern, with Bitcoin needing to stabilize around $112,000 for a meaningful reversal [1]. While smaller-cap tokens such as Hyperliquid and Pump.fum saw double-digit losses, BNB’s resilience highlights its position as a relative safe haven among leading cryptos.

The market remains sensitive to macroeconomic developments, particularly with the next Federal Reserve policy decision expected to influence the near-term outlook. Traders are closely monitoring key levels in both ETH and BNB, with the technical indicators suggesting that both could be poised for a significant upward move if bullish momentum is rekindled [1].

Source: [1] Invezz – [https://invezz.com/news/2025/08/01/crypto-wrap-eth-xrp-sol-shed-gains-as-bitcoin-drops-below-115k/](https://invezz.com/news/2025/08/01/crypto-wrap-eth-xrp-sol-shed-gains-as-bitcoin-drops-below-115k/)