Solana Under Bearish Pressure

As Solana approaches a potential death cross formation, it faces significant bearish pressure. This technical indicator suggests prolonged downward movement when the short-term moving average, like the 50-day MA, crosses below the long-term moving average (200-day MA).

Solana’s market structure has worsened after breaking below a critical support level at $150. Currently trading around $124, this failure indicates ongoing selling pressure. If the death cross materializes, SOL could experience more significant liquidations and drop further.

The current price action shows Solana caught in a long-term downward trend, with short-term moving averages sloping downwards. Notably, the 200-day moving average, often indicating weak market sentiment, has begun to flatten.

If stability above broken support isn’t regained, SOL may decline to $110, with a possible retest of $100. However, a brief recovery is possible if bulls increase the price back above $150.

Dogecoin Has One More Chance

Dogecoin’s price chart reveals a consistent downward trend, reaching its last significant support at approximately $0.14. This level is critical; a breakdown could lead to serious consequences for DOGE holders.

Despite briefly bouncing to $0.22, DOGE failed to sustain support, dropping lower. The bearish trend persists, pushing it down to the key level of $0.14. The impending death cross raises concerns, as this signal often suggests increased selling pressure ahead.

If DOGE breaks below $0.14, it could drop to the $0.10-$0.12 range. The lack of encouraging catalysts and the overall weakness in the meme coin market have worsened Dogecoin’s situation. Currently, DOGE is vulnerable to further declines due to limited speculative interest.

Ethereum Loses Ground

Ethereum has officially dipped below the crucial $2,000 support level, indicating deteriorating market conditions for the second-largest cryptocurrency. This steep price drop coincided with increased trading volume, reinforcing the bearish trend.

Over recent weeks, Ethereum has struggled to generate significant bullish momentum. Its decline below $2,000 essentially opens the door for a more severe correction, as the asset has failed to maintain above critical moving averages.

Ethereum appears caught in a strong downward trend, with short-term moving averages sloping downwards, making it challenging for bulls to reclaim control.

The recent drop in ETH was paired with a significant trading volume increase, suggesting heightened market conviction on the sell side. Typically, volume spikes in a downward trend lead to prolonged bearish periods.

Ethereum risks dropping toward $1,500 if it cannot maintain the $1,800 support. Given the current market conditions, any recovery attempts will likely face resistance near the newly formed resistance around the $2,000 mark.

In summary, unless a powerful catalyst arises to alter sentiment, the technical structure indicates more losses ahead for Ethereum.