Category: Technical Analysis

Solana Price Analysis: Key Breakdown & Outlook

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Read Time:1 Minute, 48 Second

Solana price (SOL/USD) is testing a crucial demand zone as selling pressure intensifies. This analysis evaluates key support levels, technical indicators, and potential price action scenarios to provide a clearer outlook for traders and investors.

Key Technical Levels and Breakdown Risks

  • Support Zone: Solana price is currently trading near a major support range between $120-$130. A breakdown below this level could accelerate losses.
  • 20-Day Moving Average: The 20-day MA stands at $171.16, reinforcing the bearish momentum.
  • Critical Breakdown Level: A decisive close below $110 on the daily, weekly, or monthly timeframe could confirm a deeper decline towards $80-$85.
  • Next Major Demand Zone: If Solana price fails to hold $80, the next significant support is around $50.

Indicator Analysis

Volume and Market Sentiment

  • Current Volume: 11.32M, significantly above the 6.95M moving average, indicating heightened selling pressure.
  • Bearish Confirmation: Increased volume on price declines suggests strong bearish sentiment.

MACD (12, 26, 9) Analysis

  • MACD Line: -15.17
  • Signal Line: -17.49
  • Histogram: -2.32
  • Momentum Outlook: The MACD remains in bearish territory, with no signs of an immediate recovery.

Key Support and Resistance Levels

  • Immediate Resistance: $160, followed by the $171.16 MA.
  • Major Support: $110 (critical level to hold).
  • Downside Targets: If $110 breaks, expect a drop to $80-$85. A failure at this level could drive the price down to $50.

Price Action Scenarios

  1. Bearish Continuation: A daily, weekly, or monthly close below $110 will likely lead to a move toward $80-$85. If this level fails, $50 becomes the next major target.
  2. Demand Zone Holds: If buyers defend the $120-$130 range, a relief rally toward $140-$160 is possible.
  3. Trend Reversal Confirmation: A breakout above $178 could signal a shift in momentum, attracting fresh buying interest.

Conclusion

Solana price faces a critical test at its demand zone. A weekly or monthly close below $110 would confirm a bearish continuation, with $80-$85 as the next support. If this level fails, $50 could be the final defense. Conversely, holding above $110 may trigger a short-term rebound. Traders should closely monitor closing prices for confirmation of the next major move.

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partyushgoyal

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Bitcoin Price Analysis: Critical Breakdown Below $90,000

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Read Time:1 Minute, 59 Second

Bitcoin price has experienced a significant breakdown below the crucial support level of $90,000, leading to a bearish continuation. This article will analyze the technical factors contributing to this price action, the critical demand zones, and potential future movements based on historical price behavior and technical indicators.

Key Breakdown Levels and Structure

Bitcoin price has breached several significant levels, including daily, weekly, and monthly lows, signaling a shift in market sentiment. The primary areas of concern are:

Daily Support at $90,000

Previously a strong support level, this was decisively broken, leading to an accelerated downtrend.

Weekly Low Breach

The break of the weekly low further confirmed a bearish structure, increasing selling pressure.

Monthly Low Violation

Losing monthly support levels adds to the broader bearish bias, reinforcing downside risk.

Break of the M-Pattern on the Weekly Chart

The breakdown of the M-shaped pattern on the weekly timeframe indicates further bearish continuation, with sellers firmly in control.

EMA and Volume Analysis

The 20-day Exponential Moving Average (EMA) is trending downward, reflecting strong bearish momentum. Additionally, volume analysis shows a significant increase in selling pressure, suggesting that bears are dominating the market.

Next Demand Zone: $70,000 – $72,000

With the breakdown of previous supports, Bitcoin price’s next major demand zone lies in the $70,000 – $72,000 range. This level has historically acted as a strong accumulation zone and could provide temporary relief if buyers step in.

Market Sentiment and Future Outlook

Bearish Momentum

Until Bitcoin price reclaims $90,000, the trend remains bearish.

Importance of Closing Below Key Levels

A daily and weekly close below the broken support levels will further validate the bearish trend, increasing downside risks.

Potential Rebound

If Bitcoin price finds support in the $70,000 – $73,000 range, a short-term bounce is possible.

Further Downside Risk

A failure to hold above $70,000 could lead to deeper corrections.

Conclusion

The loss of $90,000 has triggered a strong bearish move, breaking all critical support levels across multiple time frames. The confirmed break of the M-pattern on the weekly chart further strengthens the bearish outlook. Traders should closely monitor Bitcoin price action near the $70,000 – $73,000 demand zone, as this level will determine Bitcoin’s next directional move.

Note: Until a clear reversal is confirmed, caution is advised, and further downside cannot be ruled out.

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partyushgoyal

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Ethereum Price Analysis: Key Support and Resistance Levels

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Read Time:1 Minute, 46 Second

Ethereum (ETH) has been trading within a well-defined range, with significant attention on key support and resistance levels. Recently, ETH tested a critical demand zone around $2,140, a level that has historically provided strong support. Should this level fail to hold, the next major support zone lies between $1,750 and $1,700, which will be crucial for any potential price reversal.

Key Support and Resistance Levels:

  1. Demand Zone: $2,140 – $2,300
    • ETH has repeatedly tested this support zone, with price action indicating that buyers are consistently stepping in at this level.
    • A strong break below this zone could indicate further downside, pushing ETH toward the next support area.
  2. Next Support Zone: $1,750 – $1,700
    • If ETH fails to hold above $2,140, selling pressure may increase, sending ETH toward this critical support area.
    • This zone has previously acted as a strong reversal point and will be key to Ethereum’s price action in the coming weeks.
  3. Resistance Zone: $3,800 – $4,100
    • Ethereum has faced significant selling pressure around this zone, making it a key resistance level.
    • Price action indicates difficulty in breaking through this level, leading to sharp pullbacks in the past.

Technical Indicators and Market Sentiment:

  • Volume Analysis: Increased selling volume suggests a potential breakdown, with heightened risks of further downside.
  • Price Structure: Ethereum is currently forming lower highs and lower lows, which signals a bearish trend unless key support levels hold.
  • Historical Touch Points: The $2,140 demand zone has been tested multiple times, making it a crucial level to monitor for potential reversals or breakdowns.

Conclusion:
Ethereum’s price action is at a critical point. The $2,140 level is pivotal for determining the next direction of ETH. A strong hold above this zone could lead to a potential rally toward $2,600 and beyond. However, a breakdown below $2,140 could push ETH toward the $1,750 – $1,700 support zone. Traders and investors should monitor volume and price movements closely to gauge Ethereum’s next move.

Key Levels to Watch:

  • Support: $2,140, $1,750 – $1,700
  • Resistance: $3,800 – $4,100

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