Solana (SOL) faces a critical battle at the $140 level, with the price currently hovering around its 100-day Exponential Moving Average. The lack of buying activity suggests potential downward pressure on the price. Additionally, the increase in trading volume may indicate more sellers than buyers, raising concerns about a drop in SOL’s value. If Solana fails to stay above the current level, it could potentially decline to around $107. Conversely, breaking the current resistance could lead to a rally towards $165.
Bitcoin (BTC), on the other hand, is experiencing decreased volatility ahead of the highly anticipated halving event. The price has shown relatively muted swings of around $2,000, which is unusual for Bitcoin. Traders are being cautious as they await the outcome of the halving, unsure if it will trigger significant price surges like in the past. Currently hovering around $63,000, Bitcoin’s price movements are constrained between support at $58,638 and resistance at $67,014. The halving event, which cuts the reward for mining new Bitcoins in half, could reduce supply and potentially drive up prices if demand remains steady.
Dogecoin (DOGE) has been on a turbulent journey, and market participants are eagerly observing its potential for a trend reversal. The key level to watch for a possible turnaround is around $0.139, near the coin’s 100-day Exponential Moving Average. However, the more critical support level is at $0.128, as it has previously sparked buying interest and acted as a rebound point for Dogecoin’s price. If the price reaches this level again, it could attract buyers and potentially push the price higher. Despite recent increases in trading volume, caution prevails in the market, with the possibility of more people selling than buying DOGE at the moment. If Dogecoin manages to hold above $0.128 and begins an upward climb, it could aim to surpass $0.139 and then target the $0.169 level, a previous resistance level. However, failure to maintain support at these critical points could result in further downward movement for the meme coin.