What’s next? Ethereum (ETH) Will You Never See $4,000? Solana (SOL) The great reset is coming

Bitcoin It saw a sharp decline, falling to $94,000 from a peak of over $100,000. While the market is experiencing a change in momentum, a rebound is on the horizon. Although some people may find the price correction worrying, there are important trends and dynamics to watch that indicate what Bitcoin may do next. The short-term uptrend line that supported Bitcoin during its recent rally has been broken below on the chart.

This breakdown indicates that short-term upward momentum is waning. The psychological level of $90,000 and the 50 EMA at $91,798 are the next important support levels to watch. If buyers take action, these levels may serve as a buffer against further declines. The last few sessions have seen a noticeable increase in selling pressure, according to volume analysis.

But the Relative Strength Index, which is at 43 at the moment, shows that Bitcoin It is approaching the oversold zone. Bulls can regroup during this dynamic, which often occurs before a potential rally or consolidation period. The bigger picture shows that Bitcoin remains above the 100 EMA ($82,971), which has historically served as a strong support level during market downturns. The entire bullish structure will continue as long as this level is maintained.

A bounce above $97,000 indicates a return to the rally and may lead to a new high. Looking ahead, Bitcoin’s path will depend on the market’s ability to maintain important support levels. If selling pressure continues, the $85,000 area may be tested by a sharper correction. However, Bitcoin may stabilize and attempt to reclaim $100,000 if buyers regain control, indicating a return of market confidence.

Ethereum is falling

price Ethereum It fell sharply from its recent peak of over $4,000 to $3,197. The current situation represents a difficult scenario for the second largest cryptocurrency, making it difficult for it to reclaim the $4,000 mark and recover more than 30% of its value. Ethereum is now below important support levels, including the 50 EMA, which was previously a strong bullish indicator as a result of the recent sell-off.

When this level is broken, it indicates that ETH has lost a lot of momentum, which puts the market at risk. The large trading volume that coincided with the sell-off raises additional concerns because it implies that the market is actively participating in the decline. At $3,033, the 100 EMA provides the next important support level.

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Ethereum could face additional declines and possibly test the $3,000 psychological barrier if it is unable to maintain this line. To restore investor confidence and pave the way for a potential rally, ETH must rise back above $3,800. At 35, the Relative Strength Index (RSI) indicates that Ethereum is approaching the oversold zone. Bulls may find some hope in this given that relief rallies have historically resulted from similar circumstances.

However, any bullish move is likely to face strong opposition at the $3,500 and $3,800 levels. In a broader sense, EthereumMarket difficulties reflect the mood of the market as a whole, as riskier assets are under pressure due to tightening macroeconomic conditions.

Solana is under pressure

With its price falling below crucial support levels, Solana remains under significant downward pressure. SOL is currently trading at $183 and is approaching the 200 EMA at $174, which is often a crucial level for identifying trends. The asset has a strong bearish outlook because it was unable to maintain its position above the 50 and 100 moving averages. As Solana broke out of its bearish channel, indicating increasing bearish sentiment, the market saw a rise in volume.

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As selling pressure increases, increased trader agreement about the potential for additional downside is often indicated by this surge in volume. More market participants may take a bearish stance as a result of increased activity during this downward movement, reflecting a general lack of confidence in Solana’s future performance. This contraction has worrying repercussions.

Solana It may test the support at $150, a crucial psychological barrier, if the 200 EMA is breached, which could lead to lower levels. The Relative Strength Index (RSI), currently at 31, is approaching oversold territory but has not yet indicated a clear reversal. This allows for additional downward movement before a potential bounce.

Bearish sentiment in major cryptocurrency markets exacerbates Solana’s difficulties on the larger market stage. Investor confidence may be further damaged if the 200 EMA is not broken, which could lead to a prolonged bearish phase. But if SOL can maintain this level, it may attract investors looking for a long-term entry point, which could stabilize the asset.