Survive

Cardano

Solana

Bitcoin

<p>The post <a href="https://coinpedia.org/price-analysis/will-the-top-layer-1-altcoins-survive-this-crash/">Will The Top Layer 1 Altcoins Survive This Crash?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>With the U.S. and Asian markets on weaker grounds, the crypto market struggles to hold the sell-off. As <a href="https://markets.coinpedia.org/bitcoin/">Bitcoin</a> drops under $63,000, the top layer-1 altcoins break below multiple crucial supports.&nbsp;</p> 
<p>The massive sell-off offers sideliners a massive discount entry opportunity to accumulate on the dip. However, will the altcoins manage to bounce back from this correction phase?</p> 
<p>Let’s find out more in our price analysis below.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-ethereum-nbsp">Ethereum&nbsp;</h2> 
<p>With the breakdown in <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/">Bitcoin’s price</a>, the biggest layer-1 altcoin, <a href="https://markets.coinpedia.org/ethereum/">Ethereum</a>, took a huge bearish dive. The sell-off wave took a huge hit at the $3,000 psychological mark and warned of a further correction.</p> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-513.png" alt="" class="wp-image-290919" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-513.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-513-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-513-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-513-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-513-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-513-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<p><a href="https://www.tradingview.com/x/3ACqshXs/">Tradingview</a></p> 
<p>The altcoins crack under the 50D EMA and warn of a drop to the ascending support trendline. This correction will drop the altcoin under the $3,000 level and might retest the $2,800 mark.&nbsp;</p> 
<p>However, the bullish dominance at the support trendline will increase the chances of reversal. Hence, a bounce back could drive the Ethereum prices back to $4,000 post-halving.&nbsp;</p> 
<h2 class="wp-block-heading" id="binance-bnb">Binance (BNB)</h2> 
<p>One of the least affected layer-1 altcoins in the bear market, the Binance token price shows a sideways trend. The massive correction in the overall market has dented the BNB market price by 6% in two weeks.&nbsp;</p> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/04/16133146/image-511.png" alt="" class="wp-image-290917" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/16133146/image-511.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133146/image-511-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133146/image-511-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133146/image-511-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133146/image-511-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133146/image-511-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<p><a href="https://www.tradingview.com/x/P4BpFIaL/">Tradingview</a></p> 
<p>In the 4H chart, the <a href="https://coinpedia.org/price-prediction/bnb-binance-coin-price-prediction/">BNB price</a> trend shows a drop under the 50 and 200 EMA and breaks a support trendline. The layer-1 altcoin sustains above the $500 psychological mark while teasing a double-bottom reversal at $540.&nbsp;</p> 
<p>Optimistically, the uptrend could drive the BNB price higher to the $650 mark.&nbsp;</p> 
<h2 class="wp-block-heading" id="solana-sol">Solana (SOL)</h2> 
<p>Being one of the top-performing layer-1 altcoins in early 2024, Solana showcases an intense pullback in motion. The downfall puts the SOL token price under the $150 psychological mark and teases a fall to $100.</p> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-512.png" alt="" class="wp-image-290918" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-512.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-512-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-512-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-512-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-512-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-512-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<p><a href="https://www.tradingview.com/x/iwWj3E28/">Tradingview</a></p> 
<p>As per the Fibonacci retracement, the 50D EMA breakdown rally tests the 50% Fib level at $135. A breakdown under this level will put the $100 psychological mark and the 200D EMA in danger.</p> 
<p>However, the psychological mark of $100 shows multiple bullish catalysts at play to revive the uptrend. In such a case, the bounce back will bring an excellent dip-hunting opportunity for sideline traders.&nbsp;</p> 
<p>Further, the highly anticipated post-halving rally could fuel the <a href="https://coinpedia.org/price-prediction/solana-sol-price-prediction/">SOL price</a> higher to $250 in a few weeks.&nbsp;</p> 
<h2 class="wp-block-heading" id="avalanche-avax">Avalanche (AVAX)</h2> 
<p>With the Avalance network’s impressive growth before the crash, the layer-1 atlcoin surged to $60. However, the pullback initiated at $60 gained additional bearish momentum with the market crash, resulting in a $50 breakdown.</p> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514.png" alt="" class="wp-image-290920" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<p><a href="https://www.tradingview.com/x/z5gJMzv8/">Tradingview</a></p> 
<p>The downfall creates a falling channel pattern in the daily chart and tests the 200D EMA. Despite the crash, the <a href="https://coinpedia.org/price-prediction/avalanche-avax-price-prediction/">AVAX price</a> stands at a pivotal stage with chances of a bounce back.&nbsp;</p> 
<p>With strong support at $29 and the 200D EMA dynamic support, a bull cycle could start in the falling channel. The bull cycle could break the $50 psychological level and lead the layer-1 altcoin to a jump to $75.&nbsp;</p> 
<h2 class="wp-block-heading" id="cardano-ada">Cardano (ADA)</h2> 
<p>Almost reaching the psychological mark of $1, the <a href="https://coinpedia.org/price-prediction/cardano-price-prediction/">ADA price</a> takes a quick dip, leading to a bear cycle. Similar to the rest of the layer-1 altcoins, the market-wide correction intensifies the pullback for Cardano, leading to a drop below $0.50.</p> 
<figure class="wp-block-image">
 <img decoding="async" width="1600" height="796" src="https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514.png" alt="" class="wp-image-290921" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514.png 1600w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/16133147/image-514-150x75.png 150w" sizes="(max-width: 1600px) 100vw, 1600px">
</figure> 
<p><a href="https://www.tradingview.com/x/JrQs628b/">Tradingview</a></p> 
<p>The immense overhead supply breaks the crucial 50 and 200D EMA and the long-coming support trendline. As the ADA price trades below $0.50, the buyers attempt to take support at the $0.46 demand zone.</p> 
<p>If the buyers manage a turnaround, a bull run will reclaim the $0.50 level and potentially test the $0.67 mark.&nbsp;</p> 
<h2 class="wp-block-heading" id="h-conclusion-for-layer-1-altcoins">Conclusion For Layer-1 Altcoins</h2> 
<p>As the overall market is under correction, some layer-1 altcoins showcase instant reversal opportunities. However, some are yet to approach the next crucial demand level to find a solid reversal footing. Nevertheless, the ongoing conflict generates correction waves in the global markets, bringing an opportunity to buy the dip.&nbsp;</p>

Will The Top Layer 1 Altcoins Survive This Crash?

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