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…
