ETH, BNB, SOL Test Key Support Levels | BTC Battles $110K Amid Market Volatility

3 Altcoins (ETH, BNB, SOL) Test Key Support Levels: Market Volatility Amid Trump–Fed Tensions

The global cryptocurrency market plunged amid growing uncertainty over U.S. politics and monetary policy. Bitcoin (BTC) continues to battle around the $110,000 level, while major altcoins such as Ethereum (ETH), Binance Coin (BNB), and Solana (SOL) are also testing crucial support zones.

Key Takeaways

• President Trump’s dismissal of Fed Governor Lisa Cook dampened market sentiment.
• ETH could retest $5,500 if the $4,320 support holds.
• BNB may accelerate its correction if it falls below $835–$840, but a breakout with strong volume could retest $900.
• SOL has potential to rebound at $185, but a break lower risks a move to $165.

Market Background

At the Jackson Hole Symposium over the weekend, Fed Chair Jerome Powell’s comments raised expectations for a September rate cut, prompting a temporary rebound in equities and cryptocurrencies. However, political actions by President Trump at the start of the week unsettled markets again, pushing investors toward safe havens. As a result, a broad sell-off spread rapidly across the cryptocurrency market. This uncertainty is a major risk factor for the already sensitive crypto sector, influencing both short-term price action and medium-term sentiment.

Bitcoin (BTC): Psychological Battle at $110K

BTC dropped to $108,000 before rebounding above $110,000. The MACD remains in negative territory, while the moving averages show a “death cross” as the 50MA crossed below the 200MA. In the short term, downside pressure dominates, with $110,000 as the key psychological support level.

Ethereum (ETH): $4,320 is the Key

ETH reached a high of $4,955 last weekend but faced strong selling, pulling back to $4,320. This level coincides with the 21-day EMA and has been a reliable support zone for the past month. Holding above it could open the way toward $5,000 → $5,500, while a break lower may trigger a correction toward $3,980 → $3,600.

Binance Coin (BNB): Watching Fibonacci Levels

BNB hit an all-time high of $900 in August before profit-taking led to a pullback. Currently, it is finding interim support at $835–$840, which aligns with the Fibonacci 1.414 level. Defending this zone could restore upward momentum, while a close below $835 would risk an accelerated drop toward the $810 → $750 support area.

Solana (SOL): $200 Resistance, $185 Defense

SOL has repeatedly tested the $200 level since July but failed to break through. Recently, deteriorating market sentiment dragged it down to $185. This level is a short-term pivot—holding above it could set the stage for another attempt at $200, but a breakdown would shift focus to $165 as the next support, reinforcing a bearish medium-term outlook.

Investor Insights

• ETH: Watch if $4,320 can hold on a daily close.
• BNB: A breakout above $840 or a breakdown below $835 will define the next trend.
• SOL: Holding $185 suggests a short-term rebound, while losing it signals continued weakness.
• BTC: $110,000 remains the key psychological threshold for overall market sentiment.

Conclusion

The cryptocurrency market is heavily influenced by external factors such as the Trump administration and Fed policy shifts. Within this environment, ETH, BNB, and SOL are all testing critical support levels that may determine their medium-term trajectories. Investors should remain flexible, combining multiple technical indicators to adapt strategies, rather than being swayed by short-term volatility.

Disclaimer: This article is intended for informational purposes only and does not constitute investment advice. The prices and events mentioned are for reference only and may differ from actual market conditions. All investment decisions should be made at your own risk.