As the bloodbath in stocks and crypto assets threatens to continue, the top layer 1 cryptocurrencies are coming down to critical support. Will this hold, or will the crash persist? Ethereum (ETH), Binance Coin (BNB), and Solana (SOL) are analysed from a macro perspective.

$ETH continues the rout

Source: TradingView

The 2-week chart for $ETH shows that the rout is continuing without respite. 65% down from the last pivot high, and the damage could be about to get even worse, depending on how the stock market reacts on Monday.

The $ETH price has definitively dropped the $1,900 support, turning this into resistance, and the bears are now battling to do the same to the $1,500 support. Below this there is horizontal support at $1,400, and then the very last major support is at $1,000. That …