Buy, Hold or Sell: Solana (SOL) and Cardano (ADA) Prices Drop!

The cryptocurrency market continues to hold near the $2.05 trillion valuation mark, indicating stability in the crypto space. Notably, the leading coin Bitcoin reclaimed the $60,000 mark during the first trading hours in the Asian region. This reflects increased price activity.

However, top altcoins like Solana, Ripple, Cardano, and Dogecoin have seen significant corrections in their values ​​during this period. Uncertainty is present in the price performance of these altcoins in the coming days.

SOL price broke the $130 support level!

Solana price continues to trade in a negative atmosphere, down 2.46% over the past 24 hours. Furthermore, it has lost 1.27% over the past week and 8.37% over the past month. With a circulating supply of 468,369,299 SOL tokens, it has a market capitalization of $60.85 billion.

The technical indicators EMA 50/200 days and MACD both show a continuous decline in their charts. Moreover, they show a high probability of a bearish convergence. This signals a negative outlook for the altcoin in the market.

If there is a bullish reversal, Solana price will retest the resistance at $155 in the coming period. Conversely, if there is a strong bearish action, the price may fall to the important low at $127.

ADA Coin Price Tests Important Trend Level:

Cardano price continues to exhibit a neutral price action with a negligible change of less than 1% over the past 30 days. At $0.3317, it is at risk of testing a key support zone, the outcome of which remains ambiguous.

The RSI has recorded a bearish curve on the 1D chart. Moreover, the SMA has continuously acted as a resistance level for the ADA crypto. This suggests that the price may continue to decline this week.

If buyers regain strength, Cardano price could break above the resistance line and head towards the high of $0.4075. However, if seller pressure continues to prevail, the altcoin is likely to record its lowest level of the year.

Bitcoin News Summary