Polygon, Avalanche, Solana Face Bearish Pressure with 63.90%, 54.91%, 30.93% Declines

Polygon, Avalanche, and Solana have experienced notable declines in recent months, sparking discussions about potential bullish reversals. Polygon (POL) has seen a significant drop of 63.90% over the past six months, with a more recent decline of 16.25% in the last month. The coin has been trading within a narrow range of $0.184 to $0.260, indicating persistent bearish pressure. Key support levels for POL are at $0.154 and $0.078, while resistance levels are at $0.307 and $0.383. Technical indicators suggest a cautious environment, with the RSI just below neutral and overall sentiment biased to the downside.

Avalanche (AVAX) has also faced a sharp decline, with prices falling 54.91% over the last six months. The past month saw an 8.32% drop, and the last week a 2.40% decrease. AVAX has been trading between $17.67 and $25.40, showing continuous selling pressure. Resistance levels for AVAX are at $29.98 and $37.70, while support levels are at $14.52 and $6.79. Indicators reflect bearish pressure, with sentiment tilted toward sellers and price action influenced by negative momentum.

Solana has experienced an 8.86% drop in the past month and a 30.93% decline over the last six months. The coin is currently trading between $136 and $182, with immediate resistance at $207.90 and support at $115.84. Additional resistance and support levels are at $253.93 and $69.81, respectively. Indicators such as the Awesome Oscillator and momentum values suggest prevailing bearish sentiment, with an RSI reading of 39.57 pointing to downward pressure.

Despite the recent declines, there are signs of a potential bullish reversal for these cryptocurrencies. Price patterns and trading volumes hint at a shift in market momentum, with consistent upward trends and strong buyer support. Continued monitoring of key resistance levels and market trends is essential to confirm if the rally solidifies. Current indicators are promising and suggest positive movement, but traders should remain cautious and observe for breakouts that could signal a change in market sentiment.