Crypto Market Bloodbath: What’s Next for SOL, NOT, STRK, ORDI, and GALA?

The crypto market has plummeted in a sharp downturn, with nearly all major coins, including SOL, NOT, STRK, ORDI, and GALA, experiencing significant drops in value. However, Tether, which maintains parity with the U.S. dollar, remains an exception amid the sea of red.

At press time, the cryptocurrency market’s total valuation dropped to $1.98 trillion, marking an 8.97% decline in 24 hours. Meanwhile, the trading volume surged by 41.15% in the same timeframe, reflecting intense selling pressure in the market.

This analysis explores the future paths for these altcoins, considering both the continuation of the bearish trend and the possibility of a market rebound.

Solana (SOL)

Despite a slight rebound earlier this week, SOL has significantly declined, falling over 11% for the week and 6.49% in the past 24 hours. It is now trading at $126.72. This downturn has reduced SOL’s intraday market cap by more than 6% to $58.58 billion.

If the bearish trend persists, SOL will likely break below the $122 support level. However, a potential recovery could push SOL above the $136 resistance zone, potentially reversing the negative sentiment on the daily chart.

Notcoin (NOT)

Similarly, Notcoin (NOT) has been one of the hardest hit, experiencing a five-day streak that saw its value drop by over 34% in the last week and more than 17% in the past 24 hours. Despite this sharp decline, NOT remains relatively stable above the $0.0095 support level, although its market cap has shrunk by 17.86% to $1.02 billion.

If current market conditions persist, NOT could face further declines, potentially testing the $0.0090 floor. Nevertheless, there is still hope. A shift in market sentiment could spark a recovery, driving NOT back to its previous stable level of $0.025, representing an impressive 155% increase from its current price of $0.0098.

Starknet (STRK)

Starknet (STRK) has not been immune to the recent market downturn, declining 16.17% over the past 24 hours and 30% over the week. As of press time, STRK was valued at $0.4952, with its market cap shrinking to $723 million amidst widespread market woes.

Should this downward trend persist, STRK may breach the $0.45 support threshold. Conversely, if market conditions shift favorably, STRK could rebound and challenge the $0.70 resistance level, potentially signaling the end of its bearish trajectory.

Ordi (ORDI)

Ordi (ORDI) has seen substantial turbulence, suffering an 18.93% drop in just 24 hours and a 31.67% decline over the week. Currently valued at $27.06, ORDI’s market cap has fallen to $566 million. The ongoing sell-off could push ORDI down to the $26 support level. Yet, a shift in market sentiment might lift ORDI above the $40 resistance level, suggesting a potential recovery.

Gala (GALA)

Gala (GALA) is another casualty of the market slump, plummeting by over 17% in the last 24 hours and 27% over the week. Trading now at $0.02004, GALA’s market cap stands at $643 million.

If the downward trend persists, GALA might slip to the $0.018 support level. On the flip side, a favorable market turn could see GALA climb back to the $0.028 resistance level, providing some hope to its investors.