Ethereum’s recent price drop below the $2,000 mark has shaken investor confidence—but also opened the door to new opportunities. While ETH struggles under selling pressure, market watchers are turning to alternative layer-1 projects showing impressive momentum. According to data and technical indicators analyzed by The Bit Journal, XRP, Solana (SOL), and Cardano (ADA) are among the top contenders ready to rally.
Ethereum Loses Key Support at $2,000
As of writing, Ethereum is trading around $1,906, marking one of its weakest weekly performances this quarter. A potential triple top formation has emerged on the weekly chart, signaling a possible trend reversal. After being rejected from the neckline again, analysts now warn of a further drop toward the $1,520 zone if bearish sentiment persists. The lack of institutional buying interest further confirms the weakening demand for ETH.
XRP Eyes ETF Boost Amid Technical Strength
XRP is emerging as a strong challenger to Ethereum. Its performance against ETH has improved significantly, with the XRP/ETH ratio hitting its highest level since November 2020. Technically, XRP has touched the upper Bollinger Band, suggesting bullish momentum is building.
The resolution of Ripple’s long-standing legal battle has renewed institutional interest. ETF-related speculation is also heating up, with several spot XRP ETF filings gaining attention. Prediction market Polymarket places the likelihood of approval before year-end at 85%, giving XRP a strong narrative edge.
Solana Gains Big Backers and Bullish Chart Signals
Solana has already outperformed Ethereum in recent months, and heavyweight institutions are starting to take notice. Investment giants like Fidelity and BlackRock have shown interest in Solana through vehicles like the BUIDL fund—sparking renewed confidence in the project.
On the technical side, SOL has approached the upper boundary of a descending channel on the daily chart. The MACD indicator is nearing a bullish crossover, hinting at a possible breakout and fresh highs if momentum continues.
Cardano Wallet Growth Signals Underlying Strength
While Cardano has remained range-bound recently, its network fundamentals are strengthening. According to TapTools, the number of ADA wallets has surpassed 5.25 million—highlighting growing adoption and long-term interest.
From a technical perspective, ADA is showing signs of recovery with the Awesome Oscillator (AO) trending upwards. If the coin breaks out of its consolidation zone, it could target the Fibonacci resistance near $1.54 in the coming weeks.
Altcoins Take the Spotlight as Ethereum Stumbles
As Ethereum falls below key levels, investors are scanning the market for high-upside alternatives. The Bit Journal analysis suggests that XRP, Solana, and Cardano each present strong bullish cases backed by both technical and fundamental factors. With momentum shifting away from Ethereum, these three altcoins could see explosive moves in the near term.
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