The cryptocurrency market faced significant pressure this week, culminating in Bitcoin (BTC) and Solana (SOL) decisively breaching critical support thresholds, signaling a potential shift towards bearish dominance. This breakdown comes amidst rising uncertainty regarding macro monetary policy and increasing U.S. Dollar strength.
**Bitcoin (BTC) Analysis:**
Bitcoin’s primary defense line was situated between $66,000 and $64,500, a zone that aligned closely with its 50-day Exponential Moving Average (EMA) and a key demand area. Following the break, BTC dropped sharply, finding interim support just above the $60,000 psychological level. Charts indicate that $60,000 is now the crucial pivot point. A failure to hold this level could accelerate selling pressure toward the next major structural support at $58,000, confirming an intermediate downtrend.
**Solana (SOL) Analysis:**
For Solana (SOL), the technical picture appears even more vulnerable. SOL had consolidated around the $140–$145 range for several weeks, establishing it as essential horizontal support. The recent sell-off saw SOL slice through this zone, pushing the price toward $130. Traders are now watching the $125 level, which corresponds to a prior swing low. If the downward momentum continues, the next key test would be near $118.
**Outlook:** Both charts suggest that unless BTC can quickly reclaim $64,500 and SOL reclaims $145, the immediate outlook remains bearish, with increased volatility expected as the market searches for new bottoming territory.
Source: Bitcoin, Solana Break Below Key Price Support: Here’s What the Charts Are Saying
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