- Today, BTC is navigating above $83K and which is reaffirmed near the support level of $83,200. If the momentum continues, there can be an attempt at 85K.
- ETH, in particular, decreases 3.15% with increased trade volume, meaning that it can be defined as a price correction in a rather unclear crypto market.
- SOL is at the pivotal support levels, and a breakdown from them may result in sharp downtrends.
The current state of the crypto market is rather unstable; the volatility is rather high; some of the major crypto assets have given both sell signals and buy signals today. Bitcoin was able to stay above $83,000 but experienced a decline in its value of 0.47% during its attempt to break through a consolidation level. The negative value for Ethereum affects the sentiment by giving traders observations of declining values as well as increasing rates of trading activity.
Ethereum and Solana were some of the altcoins contributing to the increased pressure, which was close to vital support levels that, if breached, could lead to further declines. Some of the clues that can explain today’s market fluctuations include sideways Bitcoin movement and breakdown patterns in some of the major altcoins.
Bitcoin (BTC)
The Bitcoin (BTC) market value is currently at $83,979.84 while experiencing a 0.47% depreciation over the last 24 hours. The leading cryptocurrency registered fluctuation in its daily price and experienced significant crypto market movement that made it rise by more than $83,000 and even had the market price as high as $84,370 within the same day. Due to this development, Bitcoin has been able to maintain it above $83K, slightly below the upward incline. The current circulation of 19.85 million Bitcoins out of the maximum possible 21 million at an FDV of about $1.76 trillion and 24 24-hour volume/market cap ratio of 1.67% exists.
Source : Coinmarketcap
According to Ali, a prominent crypto analyst, Bitcoin ($BTC) is currently consolidating within a clearly defined horizontal channel, with strong support established around the $83,200 mark. Studies in his chart show that price has always respected its support value as which indicates that a bullish reaction is due to happen. According to the analyst, Ali supposes BTC is to climb towards the middle or the upper area of the current consolidation range and touch $84,400-$85,800 should its momentum rise.
Ethereum (ETH)
ETH had a significant market change in the last 24 hours, and it reduced by 3.15%, to cost $1,561.87 as a result of investors’ sentiment. However, during the other part of the day, the market regained its position and made a recovery up to $1612.70. The crypto market seemed to drop by 3.23% Accordingly, the 24-hour trading volume was at $14.7 billion, with an upsurge of 12.64% reaching $188.51 billion. The circulation supply of ETH is 120.69 million, and no change has occurred in the total supply or the supply fully diluted.
Source : Coinmarketcap
According to a recent tweet by crypto analyst @ali_charts, Ethereum ($ETH) has a critical support level at $1,528.50,. This level is significant as approximately 2.61 million addresses have collectively accumulated over 4.82 million ETH in the price range between $1,523.48 and $1,528.50. With the current ETH price at $1,578.83, this concentration of holdings suggests strong buyer interest and potential price stability if Ethereum declines toward that range.
Solana (SOL)
The SOL token maintained stable growth at $128.59 on April 16, 2025, primarily due to its 0.36% market increase. At some point, Solana fell to as low as $123.9, though the night brought back the upward trend, later taking the price higher than $130. As of the early hours of today, Solana was on the positive side as the volume of trading was $3.84 billion, a 20.05% increase from the previous day, the market cap was still at $66.39 billion, and the price rose to $128.59 following the general crypto market fluctuations by 0.36%.
Source : Coinmarketcap
According to Ali, Solana ($SOL) may be in the process of retesting a critical breakout zone stemming from a right-angled ascending broadening formation, a technical pattern often associated with heightened volatility and potential downside. Delivering an update on the 16th of April 2025, Ali asserts that although SOL is currently at $127.99 and thus -3.16%, the $65 level still retains its pertinence if the particular support fails to be effective.
