Ethereum, Solana, and Cardano have all come under heavy selling pressure in recent sessions, raising doubts about whether an altcoin season will materialize this year.
Ethereum has slipped below the important $2,000 level despite U.S. stock futures hitting new all-time highs. Analysts are now watching the $1,900–$1,950 zone as critical support, because a break lower could open the door to fresh cycle lows.
Solana has fared even worse, plunging to $66.50, its lowest price in 2.5 years. The drop reveals ongoing weakness in the broader ecosystem beyond Bitcoin.
Cardano has also tumbled, falling below $0.20 for the first time in five years and briefly dipping under $0.16, a level not seen since December 2020. The decline intensified after founder Charles Hoskinson suggested he was taking a break and warned of a potential “wave of failures” in the ecosystem, following the cancellation of the flagship 2026 summit and the rejection of key treasury proposals.
Social media attention surged, with Cardano capturing a 2026 high of 0.52% social dominance, while daily active addresses jumped to 28,459, marking the highest in four months.
 
Despite the bearish sentiment, the project retains a loyal and vocal community that has weathered previous cycles. Observers say the coming weeks will be pivotal, as retail engagement alone may not be enough without renewed institutional interest and clearer, positive signals from leadership.
Meanwhile, the CMC Altcoin Season Index is at 47/100, still in Bitcoin season territory. It edged up slightly from 45 yesterday and 38 last week, but remains far below the yearly high of 78 recorded in September 2025.
The total altcoin market capitalization, excluding stablecoins, has been range-bound for over two years. While a handful of smaller tokens have recorded impressive gains, such as Binance-related projects up over 1,150% and others climbing hundreds of percent in 90 days, the sector as a whole has lacked broad participation.
Analyst Daan Crypto notes that any meaningful relief rally would likely require strength from Ethereum and other big names to lift the entire market.
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