Will Ethereum reverse?
Ethereum is showing signs that it might be about to change its direction after a period of falling prices. The chart indicates that Ethereum is now close to the 50-day Exponential Moving Average. This could be a sign that a reversal, where the price starts to go up again, might happen soon.
When we look at the specific numbers on the chart, the 50 EMA is right near the price level of $3,300. If Ethereum’s price can stay above this line, it is a good hint that the price could start rising. On the other hand, if the price falls below 50 EMA, it could be the continuation of a descending price trend.
Solana’s weird behavior
Solana’s price moves have been quite mysterious lately. After breaking out of a pattern known as a symmetrical triangle, which often leads to a price rally, we saw a few days of gains. But then, surprisingly, the price did not enter a bull trend. Instead, we saw a bearish reversal, where the price started to fall again, which was not the most expected show out there.
On the chart, Solana’s price had risen above the triangle formation, reaching up to about $210. However, instead of continuing upward, it faced resistance and could not maintain the momentum. The price has fallen back to around $180.59, leaving many traders with losses and a lot of questions.
Looking closer, we can identify the key support level at $148.48, which is a price that could potentially stop further drops and help turn things around. If the price falls below this level, the next support is way down at $129.67, showing that there is quite a bit of room for a potential downside.
On the other hand, if Solana’s price can find some strength and start to go up again, the key resistance level to watch is around $213 – a price from the previous breakthrough.
