Bitcoin struggles to break $90,000 resistance as bullish momentum fades, Solana volatility persists with potential reversal signals
1min read Bitcoin (BTC) has been struggling to maintain its bullish momentum, with the highly anticipated $100,000 price target appearing to be increasingly out of reach. The cryptocurrency has faced difficulties in sustaining its upward trend, as evidenced by a discernible drop in trading volume and the absence of significant buying pressure. Bitcoin's recent rejection at the $90,000 resistance level has left it in a vulnerable position, making it challenging for bulls to push the price higher. The market's momentum seems to be waning, as indicated by the declining volume profile, and without a capital infusion, it may be difficult to overcome significant resistance levels. The lack of steady institutional and retail demand at present levels is a crucial factor affecting Bitcoin's short-term future.
Technical indicators suggest that the 50-day and 100-day EMAs are serving as dynamic resistance points, with Bitcoin currently circling around important moving averages. If Bitcoin is unable to convincingly regain these levels, further consolidation or even a possible pullback toward lower support zones may result. Each bullish structure must be maintained between the $85,000 and $82,000 levels. In contrast, a clear break above $90,000 with high volume might rekindle bullish sentiment and reintroduce the $100,000 target. Traders may wonder if the once-promising $100,000 rally is still possible if Bitcoin stays in its current range in the absence of a spike in buying interest.
Solana (SOL) has experienced erratic price movements over the past few weeks, unable to establish a steady level despite several attempts to breach significant resistance levels. Recent chart patterns, however, indicate that an unexpected move could be imminent. A prominent feature of Solana’s recent price movement is the appearance of three consecutive candles on the chart, which frequently indicates that market sentiment may change, either preparing for a reversal or bolstering the current trend. Despite the asset’s present volatility, the volume that goes along with these movements is still high, suggesting that traders are still very interested in it.
SOL is currently trading at about $142, indicating hesitancy following a brief attempt at recovery. Important resistance levels are at $164 and $184, while support levels are close to $130 and $120. The price of