ETHFI Faces Critical Support Test on Binance Amid Market Downturn
Ether.Fi's native token ETHFI has recently experienced a 5.11% decline, dropping to $1.13 and testing a crucial support level at $1.05. This downturn occurs amidst broader market pressures affecting liquid staking protocols, despite neutral RSI readings at 47.67, indicating market-driven consolidation rather than protocol-specific weaknesses. Binance's spot markets recorded significant trading volume of $23.98 million in ETHFI, highlighting sustained liquidity even during the pullback. With no major news catalysts driving the movement, the token's performance appears to be influenced by broader market trends. As of August 5, 2025, investors are closely monitoring ETHFI's ability to hold its key support level, which could determine its near-term trajectory in the volatile cryptocurrency market.
ETHFI Tests Critical Support Amid Broader Market Pressure
Ether.Fi's native token ETHFI fell 5.11% to $1.13, testing crucial support at $1.05 as liquid staking protocols face technical headwinds. The decline comes despite neutral RSI readings at 47.67, suggesting market-driven consolidation rather than protocol-specific weakness.
Binance spot markets recorded $23.98 million in ETHFI volume, demonstrating persistent liquidity even during the pullback. With no material news catalysts, the movement reflects profit-taking in a quiet period for the staking sector.
Technical indicators present conflicting signals—while the price approaches a key support zone, the absence of fundamental drivers leaves ETHFI vulnerable to broader crypto market sentiment. The protocol continues normal operations, awaiting fresh catalysts to reignite momentum.
VeChain (VET) Tests Key Support at $0.02 Amid Mixed Market Signals
VeChain's VET token faces downward pressure, sliding 4.84% to $0.02 as bearish sentiment tests critical support levels. The decline comes despite a 6% rebound late last week that had briefly stabilized the asset.
Technical indicators paint a neutral picture, with the RSI hovering at 46.45. Market participants remain divided on the impact of VeChain's upcoming PoA2.0 upgrade—some see technical promise, while others fear potential manipulation in thin trading conditions.
Binance spot markets recorded $11.56 million in VET/USDT volume, demonstrating persistent interest even as prices retreat. The altcoin's performance reflects broader uncertainty across mid-cap digital assets.
MANTRA (OM) Price Drops 4.6% Amid Mixed Technical Signals
MANTRA's OM token fell 4.57% to $0.25 as technical indicators painted a conflicted picture for traders. The Relative Strength Index at 46.34 suggests neutral momentum, while the MACD hints at growing bearish pressure.
Trading volume on Binance spot markets reached $11.22 million, reflecting moderate interest during what appears to be a consolidation phase. The movement lacks clear fundamental catalysts, instead tracking broader market sentiment in the absence of project-specific news.
Market technicians note the RSI's midpoint positioning leaves room for potential breakout moves in either direction. However, the MACD's configuration at 0.0058 raises caution flags for bullish traders anticipating a quick recovery.
A2Z Crypto Plummets 25% on Rebrand Launch Amid Sell-Off Pressure
Arena-Z (A2Z), the rebranded token formerly known as LOKA, tumbled 25% on its relaunch day despite initial enthusiasm. The sharp decline followed Binance's resumption of trading for the A2Z/USDT pair, with the token sliding from a high of $0.0062 to a daily low of $0.004622 before stabilizing at $0.00496—a 27.6% drop from its listing price.
The sell-off reflects a classic 'buy the rumor, sell the news' dynamic, exacerbated by thin liquidity. A2Z's predecessor, LOKA, was originally launched in 2022 as the native token for Web3 MMO game League of Kingdoms Arena. The rebrand marks the project's expansion into multiple gaming titles and its own layer-2 blockchain, AZ Chain.
Binance completed the token swap at a 1:20 ratio on July 28, but traders quickly capitalized on the relaunch volatility. The episode underscores the risks of token rebrands, even for projects with established ecosystems.
BNB Price Corrects After Rally, Tests Key Support at $800
Binance Coin (BNB) has retreated from its recent peak near $860, now trading below $810 as it faces resistance around $820. The pullback follows a sharp ascent from $744 to $861, mirroring broader market trends led by Bitcoin and Ethereum.
Technical indicators show short-term weakness, with BNB slipping below the 23.6% Fibonacci retracement level and its 100-hour moving average. Yet the $800 support zone—reinforced by a bullish trend line—suggests this may be a healthy consolidation before another upward move.
Profit-taking appears to be driving the correction, a typical pattern after rapid appreciation. Market participants are watching whether the $800 level holds, which could determine BNB's near-term trajectory.
BNB Price Hits $804 After Breaking Multi-Month Resistance Trendline
Binance Coin (BNB) surged past $800, marking a decisive breakout from a descending trendline that had constrained its price action since late 2024. The rally, which began in early May as forecasted by analyst CRYPTOWZRD, has delivered a 47% gain, positioning BNB among this cycle's top-performing altcoins.
Technical analysts highlight $800 as a critical support zone, with projections now targeting $910 and potentially $1,100 if bullish momentum persists. The breakout reflects strengthening investor confidence in high-cap altcoins, underscored by rising trading volumes and positive market sentiment.
As of July 30, BNB trades at $804.55 after a minor 2.96% retracement. The MOVE signals a new phase of price discovery for the asset, with market participants watching for sustained upward trajectory.
