ReportWire

Tag: Crypto Bull Run 2025

  • Solana (SOL) Price Risks Drop Below $200 After Losing Key Support, Analyst Warns

    [ad_1]

    Amid the recent market volatility, Solana (SOL) has lost a crucial area for the first time in over a week, leading some analysts to forecast a potential drop toward the $200 support and below in the coming days.

    Related Reading

    Solana Pullback Eyes $200 Retest

    Solana fell from the $225 area and recorded a 6.6% intraday retrace below the $210 level for the first time in two weeks. Notably, the cryptocurrency has been trading within the $210-$245 levels over the past month, briefly losing this range during the late September pullback.

    As “Uptober” arrived and the overall crypto market recovered, the altcoin bounced from the recent lows, reclaiming the mid-zone of its local price range. Over the past week, SOL traded within the $220-$235 area, retesting both the upper and lower boundaries of this zone throughout this week’s volatile market performance.

    Multiple market watchers warned that losing $215-$220 area could determine whether SOL’s short-term rally was at risk. On Friday morning, the altcoin lost this crucial zone, hitting a one-week low of $207.

    Analyst Crypto Batman forecasted that Solana would likely head lower before bouncing, highlighting two key support areas. He suggested that the altcoin’ could retrace deeper into its Bullish Fair Value Gap (FVG), between $210-$220, which previously served as a key resistance level.

    However, if the price continues to fall, he pointed out that a retest of SOL’s two-month ascending trendline, currently around the $200 mark, would be possible. This trendline was tested as support in late September, when the altcoin fell to the $190 level.

    Similarly, Crypto analyst Man of Bitcoin had affirmed that holding the $216 level was crucial to preserve a bullish scenario in which the cryptocurrency rallied toward the $270 without major pullbacks.

    The analyst cautioned that losing this area would invalidate the bullish setup and likely push the price down toward the local range lows, potentially risking a drop to the $200 barrier.

    SOL’s Make-Or-Break Level

    Meanwhile, market watcher Follis recently stated that SOL has “one of the cleanest” high timeframe charts in the market. He noted that Solana’s 100-day Exponential Moving Average (EMA) indicator in the daily chart holds “the key.”

    Notably, this indicator, currently sitting around the $200 area, has been tested as support and bounced from each time the cryptocurrency has failed to break a major resistance level since August.

    Based on its recent performance, if the altcoin holding the EMA100 on the daily timeframe could see a rebound and target the range highs. On the contrary, if this level is lost, the cryptocurrency risks falling to the September lows.

    Related Reading

    Despite the short-term correction, some analysts remain optimistic about SOL’s end-of-year rally, suggesting that it will continue its path to new highs after the retrace. “$320 remains the target,” Trader Koala affirmed, “Pullback first though.”

    As of this writing, Solana is trading at $205, a 12.1% decline in the weekly timeframe.

    Solana’s performance in the one-week chart. Source: SOLUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

    [ad_2]

    Rubmar Garcia

    Source link

  • Solana Eyes Massive Breakout Amid $240 Retest, But Analyst Issues Crucial Market Warning

    [ad_1]

    Solana (SOL) could be near the long-awaited price discovery phase after climbing to a seven-month high. However, an analyst suggested investors remain cautious, as the market rally is “closer to the end than the beginning.”

    Related Reading

    Solana Eyes Last Major Resistance

    On Friday, Solana reached a seven-month high of $241.84 after breaking out of its consolidation range earlier in the week. The cryptocurrency had been trading within the $120-$220 price range since the start of February, failing to reclaim the range’s high during the recent short-term recoveries.

    The ongoing rally has sent the cryptocurrency past multiple crucial barriers, “getting close to the final resistance,” analyst Crypto Jelle stated. He highlighted that SOL has been “quietly pushing higher, without anyone paying attention,” climbing 20% since Sunday.

    Now that the altcoin is attempting to reclaim the $240 area as support, the analyst pointed out that Solana has “one last hurdle to overcome” before price discovery.  According to the post, if SOL reclaims the $250 level, “the sky is the limit,” as this area has been a crucial macro resistance level over the past two years.

    To the analyst, turning this level into support could set the base for a rally to $600. Similarly, analyst Ali Martinez suggested that SOL’s main target sits at around the $1,314.41 level after the altcoin broke out of a massive three-year cup and handle pattern.

    Nonetheless, Altcoin Sherpa issued a warning to investors on X, stating that “Now is NOT the time to ape in gigantic.” He asserted that despite thinking that Solana, Ethereum (ETH), and BNB “generally go higher from here, (…) the bulk of the move is done for these.”

    The analyst explained that he will remain bullish “until shown otherwise,” and expects a great performance in the coming months, but noted that the bull run is “closer to the end than the beginning.”

    “We are lucky that the marginal buyers are Tradfi with these DATs but with Saylor not buying as much, hard to tell where the next set of flows come from,” he stated.

    ‘SOL Season’ Momentum Grows

    Bitwise’s CIO Matt Hougan recently forecasted a bullish Q4 rally for Solana, affirming that the cryptocurrency has “all the ingredients (…) for an epic end-of-year run.” He suggested that it could start a “Solana Season” fueled by exchange-traded funds (ETFs) and strong corporate treasury purchases.

    Notably, multiple spot Solana ETFs are awaiting the approval of the US Securities and Exchange Commission (SEC) after the regulatory agency delayed the decision deadline last month. As a result, issuers and investors are expecting a positive outcome around the first half of October.

    Additionally, the recently launched Solana Treasury company, Forward Industries Inc., announced it had successfully closed its private investment in public equity (PIPE) financing on September 11, securing gross proceeds of approximately $1.65 billion for the Company.

    As reported by NewsBTC, Galaxy Digital, Jump Crypto, and Multicoin Capital announced their plan to establish the SOL treasury company to purchase the cryptocurrency, stake it, and generate excess returns.

    Related Reading

    “Forward Industries intends to use the net proceeds from the offering primarily to purchase SOL, the native digital asset of the Solana blockchain,” the company reaffirmed in its Thursday statement.

    As of this writing, SOL is trading at $239.86, a 6.1% increase in the daily timeframe.

    Solana’s performance in the one-week chart. Source: SOLUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

    [ad_2]

    Rubmar Garcia

    Source link

  • Bitcoin Risks Drop Below $110,000 Despite Bounce – Is A 15% Pullback Coming?

    [ad_1]

    Bitcoin (BTC) is attempting to reclaim a crucial level as support after bouncing from the recent drop below $115,000. Nonetheless, some analysts warned that the cryptocurrency is entering a corrective phase with a potential 15%-25% drop.

    Related Reading

    Bitcoin Risks Drop Below $110,000

    On Monday, Bitcoin fell below the $115,000 level for the first time in nearly two weeks, retesting the $114,500 support before bouncing. The flagship crypto has been hovering between its local price range since August 7, hitting its latest all-time high (ATH) of $124,200 before ultimately being rejected from the range highs.

    Now, some market watchers have affirmed that BTC has entered a corrective phase, which could send the cryptocurrency below other crucial support levels. Ali Martinez noted that the recent rejection “came in the form of a deviation, which often signals weakness and opens the door for deeper pullbacks.”

    According to the analyst, Bitcoin has been trading within the $112,000-$122,000 price range, suggesting that the local bottom is the next key support level to watch as momentum leans bearish.

    BTC targets the range lows after rejection. Source: Ali Martinez on X

    Notably, the cryptocurrency immediately bounced from today’s drop, reclaiming the recently lost $116,500 breakout level, and nearing the $117,000 area again. To the analyst, a confirmed rebound could reset bullish momentum, sending the price to the range highs.

    However, if BTC’s price drops again and the $112,000 support doesn’t hold, the cryptocurrency risks triggering a $4,000 drop to the $108,000 area. Martinez highlighted that on-chain data shows a liquidity grab between these two levels.

    Additionally, the Accumulation Trend Score, which dropped to 0.20, signals that holders are “redistributing their Bitcoin rather than accumulating at these levels.”

    Has The Price Discovery Correction Begun?

    Analyst Rekt Capital pointed out that BTC failed to hold the crucial $119,000 level as support on the weekly chart, closing on Sunday below its weekly bull flag pattern that had been developing since early July.

    According to a previous analysis, turning the pattern’s bottom into resistance would be a bearish retest that would confirm the breakdown from the pattern, and potentially lead to a new retest of the $112,000 area.

    Amid its recent performance, he asserted that Bitcoin has entered its second Price Discovery Correction, which has historically followed the second Price Discovery Uptrend peak, between weeks 5-7.

    “Interestingly, the upside wick that formed last week developed right at the finish line in Week 6 before pulling back. This upside wick was crucial because it came to save the historical cyclicality that we tend to see in price action across cycles,” the analyst explained, as the previous ATH formed in Week 2 of the second uptrend.

    Related Reading

    Rekt Capital suggested that Bitcoin could be transitioning into a corrective period. Nonetheless, he noted that this corrective might not last as long as previous corrections, as at this moment of the 2017 and 2021 cycles, BTC pullbacks lasted between 1-3 weeks and were 25% and 29% deep, respectively.

    “In both cases, these pullbacks were shorter and shallower by the standards of the previous corrections in the respective cycles,” he detailed, concluding that BTC must “ideally resolve this pullback over the next handful of weeks and perform a relatively shallow pullback of -15% to -25%.”

    Bitcoin, btc, btcusdt
    Bitcoin trades at $116,460 in the one-week chart. Source: BTCUSDT on TradingView

    Featured Image from Unsplash.com, Chart from TradingView.com

    [ad_2]

    Rubmar Garcia

    Source link