Ethereum Surges 45% in Month, Altcoins Show Recovery Signs

Ethereum, Solana, and Cardano have recently shown signs of recovery and potential for significant gains, which could ignite the next explosive altcoin season. Ethereum has experienced a sharp rebound over the last month, with prices surging nearly 45%. This marks a notable short-term recovery, contrasting with a longer-term decline of roughly 30% over the past six months. The recent uptrend suggests renewed buying interest and positions taken at lower levels during the previous downturn. Ethereum is currently trading between approximately $1923 and $2961, with resistance clustered near $3395 and an additional hurdle at $4433. On the support side, key levels stand at approximately $1318 and a deeper floor near $280. Bulls show growing strength as momentum and RSI readings lean toward optimism, even though a clear trend remains elusive. Trading ideas include buying near support to capture the recovery while watching for resistance rejections that might curb gains. A sustained move above $2961 could spur further rallies, yet failure to hold support might bring renewed selling pressure.

Cardano has seen mixed changes recently with a slight monthly uptick of 2.81% against a steep six-month decline of 40%. A weekly drop of 8.30% points to recent hesitancy in the market. The half-year slide underlines a period marked by significant corrections mixed with brief recoveries. Price movements over these timeframes reveal volatility and uncertainty, with short-term strength failing to counteract the long-term downtrend. Current trading levels show Cardano moving between roughly $0.5973 and $0.8193. The nearest support is at $0.5087, while immediate resistance is found at $0.9527. Indicators suggest weak price momentum, pushing the coin into a more bearish short-term market. The market does not show a clear upward trend, and bears currently dominate the scene. Traders may consider cautious entry positions within these levels, watching for signs of a shift in sentiment before committing to larger positions.

Solana showed a modest one-month gain of 8.70%, while facing a steep six-month decline of 33.64%. The recent month indicated short-term upward momentum, but the broader trend is marked by significant downward pressure. Market sentiment has been mixed, with technical indicators reflecting a subdued atmosphere. Price fluctuations suggest that Solana has experienced periodic gains, contrasted by longer-term bearish signals. Solana currently trades within a defined range between approximately $136 and $182. Immediate resistance is around $207.89, and the nearest support is at $115.83. A secondary resistance level appears near $253.92, while secondary support is identified at $69.80. Indicators reveal falling momentum, with the Relative Strength Index at 42.58. Bulls are struggling as sellers maintain pressure at key resistance levels. A clear trend is lacking, with price movements oscillating between established support and resistance zones. Traders should watch these levels closely for potential opportunities while being cautious of volatility.

If Ethereum reaches $5,000, Solana hits $350, and Cardano targets $3, it could rally other altcoins and lead to a broader market uplift. Past performance suggests these moves can lead to a broader market uplift. Investors often look for leading altcoins to drive momentum. Watching the performance of ETH, SOL, and ADA could offer insights into the next market phase. The potential gains reflect increasing interest and could set the stage for another bullish period in the crypto space.