Ethereum Shows Resilience as Altcoins Extend Weekly Slide
Digital assets extended their retreat Tuesday, pushing the total cryptocurrency market capitalization down to $2.19 trillion, a decline of roughly 3.05% over 24 hours, as investor sentiment deteriorated sharply.
Key Takeaways:
- Total crypto market cap fell 3.05% to $2.19 trillion.
- Fear & Greed Index slid to 11, indicating “extreme fear.”
- Altcoin Season Index at 33 shows Bitcoin dominance over the sector.
The drop comes as traders scale back risk exposure amid heightened volatility and persistent macro uncertainty.
A widely followed Fear & Greed Index sank to 11, firmly in “extreme fear” territory, reflecting defensive positioning among investors. The Altcoin Season Index registered 33 out of 100, signaling that Bitcoin continues to outperform much of the broader token market – a dynamic typically associated with risk-off phases.
Ethereum Technicals Signal Short-Term Strength
Ethereum changed hands near $1,829.84, trimming earlier losses but still down more than 8% over the past week.
On the hourly timeframe, Ether’s RSI (14) rose to 62.57, above its signal reading of 50.52, placing the asset in moderately bullish territory and reflecting stronger short-term buying pressure compared with Bitcoin.
Momentum indicators for Ether also turned constructive. The MACD (12,26,9) showed the MACD line at 0.58, above the signal line at 0.75, with a positive histogram reading of 0.17, pointing to a developing upside crossover. The setup suggests improving short-term momentum, though not yet a decisive breakout.
Altcoins Lead Weekly Declines
XRP slipped to roughly $1.32, marking a weekly loss exceeding 10%, while Solana changed hands near $76.59, down about 11% over seven days.
Bitcoin Cash posted one of the steepest weekly declines among major tokens, falling roughly 14%, while Cardano and Dogecoin each dropped around 9% to 10%. Binance’s BNB token declined nearly 6% over the week.
Stablecoins Tether and USD Coin held near their dollar pegs, reflecting a rotation toward relative safety as volatility picked up.
Sentiment and Structure Remain Fragile
The broad retreat in market capitalization and benchmark indexes suggests more than isolated token weakness. Elevated trading volumes point to active deleveraging rather than a simple lull in participation.
With sentiment gauges at extreme lows and altcoins underperforming Bitcoin, traders are watching closely for signs of stabilization. Whether the current downturn proves to be a consolidation phase or the start of a deeper correction may hinge on Bitcoin’s ability to hold key support levels in the coming sessions.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
