Solana Drops 22% From Peak, Tests $138 Resistance; Cardano Falls 29% Amid Market Fluctuations

Solana has been maintaining its position around the $138 resistance level despite a tumultuous week that saw it drop over 22% from its peak of $178. The cryptocurrency initially surged following an announcement by former U.S. President Donald Trump regarding a crypto reserve, but this momentum quickly dissipated, leading to a pullback. As of the latest updates, Solana is testing the key $138 mark, with experts divided on whether it will break through this resistance or resume an upward trend.

Some analysts remain optimistic, citing bullish signals from the Moving Average Convergence Divergence (MACD) indicator and a recent purchase of $14 million worth of Solana by a whale, which has helped alleviate sell pressure. If Solana manages to break through the $138 resistance and reach $170, some experts predict it could surge to $180 or even $213. However, there are also warnings of potential whale sell-offs, which could drag the price down to $132 or even $106. The Relative Strength Index (RSI) at 42 suggests that Solana is not yet oversold, indicating there is room for further decline. Nevertheless, any bullish news could propel Solana past the $138 resistance quickly.

Meanwhile, Cardano (ADA) is facing its own challenges, currently trading around $0.738, down 29% from its recent high. Despite being named in Trump's crypto reserve announcement, which initially boosted its price by 70%, Cardano has since cooled off and dropped from a high of $0.9792. Market fluctuations, including a $660 billion wipeout in the crypto market due to tariff talks, have contributed to Cardano's decline. However, some experts point to the fixed supply of 45 billion ADA and the staking rate as potential stabilizers, reducing sell pressure and keeping the price steady compared to other coins.

Cardano's competition is fierce, with new meme coins like Panshibi (SHIBI) offering enticing bonuses and promising significant returns. Panshibi, built on Ethereum, is attracting investors with a 20% bonus on its presale tokens. The presale, currently in its fourth stage, has already raised over $1.23 million, with