The major layer 1 networks have all hit major support levels. If crypto is to recover, the likes of Ethereum (ETH), Solana (SOL) and Sui (SUI) will need to reverse their downtrends and rally, potentially into the backend of 2025. This article analyses the price perspective of all three on the higher time frame.
$ETH bears still very much in control
Source: TradingView
The $ETH price does appear to be hanging on by its fingertips. Having opened a weekly candle body below the bull market trendline, and currently dipping below the major $1,900 horizontal support level, the $ETH bears are having it all their own way right now.
Even if the major support does eventually hold, there is very strong resistance overhead at $2,150. If the bulls can get back above this, the bull run for $ETH is potentially back on. The weekly Stochastic RSI has the indicator lines at the bottom, and so a cross back up would bring strong upside price momentum back. Bulls must take advantage.
Good bounce for $SOL – major support is holding
Source: TradingView
The $SOL price recently hit the bottom bound of its own major support band, which stretches from $128, down to $111. The price is still a long way below the bull market trendline and so bulls will need to do a lot of work. In their favour, just as is the case for $ETH, the weekly Stochastic RSI is bottoming.
A good bounce has already taken place, to take the price back to the top of support. This could be a good springboard to propel $SOL back to the all-time high. The Solana network is currently processing more than 80% of all crypto transactions. The rest of 2025 will be very interesting to see where the price goes.
$SUI could be about to start reversing the downtrend
Source: TradingView
Sui is the new pretender to the Ethereum throne of the most valued layer 1 by market cap. After its huge rally through the end of 2024, the $SUI price came back down with a bump in the first quarter of 2025. This week, a nice wick down to the major support could be a retest before going higher.
Just under the a major ascending trendline, the $SUI bulls have the rest of this week in which to get back above and avoid confirming below. With the major support having been retested, it might be expected, Bitcoin allowing, that $SUI starts to make inroads into reversing the downtrend. Just like Solana, Sui with its technology advantage, has the potential to be one of the leaders out of this current corrective phase.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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