SOL is consolidating within an ascending channel pattern and is currently trading above the support trendline. This level could act as a recovery zone, potentially leading to an upward move.
However, the Ichimoku Cloud is serving as a resistance barrier above the price action, which could limit the upward momentum.
A break below the channel support line would signal a further correction and downward movement. Keep an eye on key levels for confirmation.
#BTC DOMINANCE ANALYSIS BTC dominance is consolidating inside a symmetrical triangle and is currently trading above the support trendline. The 50-period moving average (50MA) is providing support, while the price remains inside the Ichimoku Cloud. A breakout to the upside or downside is required to confirm the next move.
It is important to note that BTC dominance usually has an inverse relationship with the market cap of altcoins. This means that a breakout to the downside could indicate a potential bullish momentum for altcoins.
🔓🤔 Over $15 billion worth of tokens were unlocked last month, with another $3 billion this month and $9 billion between March and April. A major test of market liquidity is coming.
Right now, it is a crucial point. We need to wait for the stock markets to open and see how big investors will react. There may not be a panic and instead, we may see a strong buyback after the dip.
Crypto Rover suggests that we are in a bear trap – a situation where the market creates panic to eliminate weaker investors before a sharp price rise.
Let’s keep an eye on the situation and see who is right – the bears or the bulls.
There's not much to hope for now. Here are some quick thoughts — the current chart looks a lot like what we saw in early 2024.
We have the same Falling Wedge pattern, which takes time to break upwards.
Touching support near $2,700 could be a good entry point, but there is no position there for now.
However, yesterday we noticed a positive sign — when #Ethereum started moving, all tokens based on it also moved quickly. The chances of an AltSeason are still alive; we just need to wait for $ETH .