The cryptocurrency market has once again turned into a bloodbath unexpectedly. This sharp decline in the cryptocurrency sector has also affected all altcoins and resulted in losses far beyond the loss of Bitcoin (BTC). This change in the cryptocurrency sector has had a much worse impact on altcoins.
Altcoins’ Decline Accelerates
The second largest cryptocurrency by total market value, Ethereum (ETH), experienced a 5.6% decline in the past 24 hours. XRP, on the other hand, suffered a 13% decline in the past 24 hours, making it one of the worst affected. ADA managed to stay within the top 8 by experiencing a relatively smaller decrease of 4.2%. SHIB, especially after the Shibarium disaster, accelerated its decline and experienced a 7.3% setback in the past 24 hours.
Current Status of ETH Price
The second largest cryptocurrency by total market value, Ethereum (ETH), experienced a sharp decline and dropped to the $1,660 support level all of a sudden. Although bulls regained control after this level, nothing is certain for ETH yet.
The critical points for ETH are seen as the $1,660 support and the $1,840 resistance. ETH is currently trading at $1,691 and appears to be moving towards $1,700. There are currently signals of a renewed uptrend, and the RSI has started to rise above the 50 level. 
XRP Could Experience Sharp Decline
XRP, which was the most popular and fastest rising cryptocurrency until a month ago, is now experiencing consecutive declines.
XRP experienced a 14% decline and dropped to $0.50 within the past 24 hours. This sharp decline in XRP price is actually around 20% on a weekly basis. XRP is one of the most affected cryptocurrencies by this situation, and the current support does not seem very strong.
If XRP fails to hold its current level and continues its decline, it will drop to $0.47. The only way for XRP to recover from this situation seems to be a breakthrough above $0.56 and a closing at that level.
Cardano (ADA) Resists Bears
Despite experiencing a decline similar to XRP, ADA managed to hold on relatively well with only a 4% decrease in the past 24 hours. The $0.24 level is critical for ADA’s price, and investors may be aware of this. The reason for this is the magnitude of the current positions at $0.24.
$0.28 is a critical resistance level for ADA, and ADA can clarify the situation for itself by surpassing this level. ADA is currently at $0.26 and is slowing down its decline by continuing its upward movement.
