- Solana Faces Death Cross: Solana is nearing a death cross, with the 50-day MA falling below the 200-day MA, signaling a potential 50% drop, possibly hitting $110 or even $100 if the trend continues.
- Dogecoin at Risk: Dogecoin is testing its last support at $0.14, and if it breaks, it could fall to the $0.10-$0.12 range, as a death cross looms, signaling more selling pressure.
- Ethereum Struggles Below $2,000: Ethereum has fallen below the critical $2,000 support, with rising trading volume suggesting a deeper correction ahead, potentially dropping to $1,500 unless a strong catalyst emerges.
Solana is facing some serious heat, inching closer to a potential death cross formation that could trigger a prolonged downward spiral. The death cross happens when the short-term moving average (like the 50-day MA) falls below the long-term moving average (200-day MA), signaling a bearish trend that often leads to further declines. Right now, Solana is struggling below a major support level that once stood strong at $150. The price is now hovering around $124, and if the death cross forms, more liquidations and price drops could follow. The market structure is looking increasingly grim, and the next stop could be $110, or even $100, unless some buying pressure resurfaces.
Solana’s Struggle with Moving Averages
Solana is stuck in a downward trend, with its short-term moving averages sloping downward, reinforcing the bear market sentiment. What’s worse, the long-term 200-day MA has started to flatten out, indicating that the broader market sentiment might be weakening. If Solana fails to stabilize above the broken support level, we could see it retest $110, and possibly $100 if things get worse. On the other hand, if bulls can regain some control and push the price back above $150, there’s hope for a brief recovery—but that would require a solid shift in momentum.
Dogecoin at a Crossroads
Meanwhile, Dogecoin is also struggling, hitting its last significant support at $0.14. If this level breaks, DOGE could spiral down to the $0.10-$0.12 range, dragging investors into a more severe bearish phase. The much-feared death cross is looming for DOGE as well, with the long-term 200-day moving average crossing below the short-term 50-day MA. This is a common signal for increased selling pressure and further price drops. With a lack of speculative enthusiasm and a general downturn in the meme coin sector, Dogecoin’s future looks uncertain, especially without any strong catalysts to lift it out of this slump.
Ethereum on the Brink
Ethereum is also feeling the weight of the market, officially breaking below the critical $2,000 support level. This marks the beginning of a possible steeper correction, with trading volume spiking as the selling pressure intensifies. Ethereum’s recent struggle to maintain any significant bullish push, combined with the rise in trading volume, suggests that the bearish trend could continue. If ETH can’t hold the $1,800 mark, it might fall to the next support zone around $1,500. With no strong rebound in sight and key support levels crumbling, Ethereum’s future is looking increasingly bearish unless some powerful catalyst turns the tide.
The Current Market Landscape
Across the board, the crypto market is facing a difficult period. With major assets like Solana, Dogecoin, and Ethereum all seeing heavy selling pressure and technical indicators pointing toward further declines, the near future could bring more downward movement unless something major shifts. The lack of buying interest, combined with the broader market’s sentiment, suggests a rocky road ahead for these coins, and they may continue to slide before any significant recovery takes place. Traders should be cautious, as more losses could be in store for the short- to medium-term.
