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#Solana wavers at key technical support as bearish momentum persists, with one analyst watching for a deeper breakdown.
Solana (SOL) currently trades for $79.25, experiencing a 1.6% decline over the past 24 hours. Against Bitcoin, it is trading at 0.001193 BTC, down 0.8% on the day. The 24-hour price range spans from $76.81 (low) to $82.05 (high), showing a fairly wide intraday volatility. 
Looking at the chart patterns, SOL initially traded near the $80–$82 region before experiencing a sharp selloff, breaking below $78 and briefly dipping near the daily low around $76.81. Following that move, the price began a gradual recovery and is now hovering near $79. However, price has not yet reclaimed the earlier highs near $82, which remain immediate resistance.
Performance metrics across broader timeframes show mixed momentum. Over shorter intervals, SOL is up 0.2% in 1 hour, but down 1.4% over 24 hours and 0.5% in the last 7 days, indicating short-term weakness. More notably, the asset is down 31.6% over 14 days and 45.3% over 30 days. These longer-term figures clearly reflect a significant macro drawdown phase. 
The big question now remains: is this consolidation the base for Solana’s next leg up, or simply a pause before further downside?
What’s Next for Solana?
From a support and resistance perspective on the 1D SOL/USD chart, price is currently trading around $79.72, after printing a recent low near the mid-$70s. The most immediate support sits in the $75–$77 region, which aligns with the recent swing low and the sharp wick rejection. 

A breakdown below this area would likely expose psychological support near $70, which also aligns closely with the current Parabolic SAR. On the upside, immediate resistance has begun forming around $90, followed by a heavier supply zone between $100–$110. Looking at the Parabolic SAR itself, the dots have flipped below price following the recent rebound, with the current SAR reading around $69.32. 
This shift suggests a potential short-term trend reversal or at least a pause in bearish momentum. However, the broader structure still reflects a clear daily downtrend, as the previous SAR alignment remained above price throughout the recent selloff.
The True Strength Index shows deeper insight into momentum conditions. The TSI line is currently around –43.91, with the signal line near –36.33, both deeply below the zero line. This confirms bearish momentum remains dominant. For stronger confirmation of a bullish shift, traders would want to see the TSI curl upward and cross above the signal line while the price holds above the Parabolic SAR and reclaims resistance levels.
Solana Going to $50?
Elsewhere, Altcoin Sherpa has warned that Solana could drop toward $50 if it loses the current support level, highlighting the critical zone around $75–$77. In the shared chart, SOL is trading near $77.35 after a sharp rejection from above the 200-week EMA (around $121) and a strong breakdown from the $95 region. 

The next major historical support sits near $51.23, which corresponds with prior consolidation and a former resistance-turned-support zone. If the $77 level fails, the chart structure suggests a potential vacuum lower toward that $50–$52 area, validating Sherpa’s downside scenario. 
#CryptonewswithJack

#Cardano (ADA) is trending near a key area in a descending triangle, and analysis highlights two possible price scenarios.
The recent downtrend has pushed ADA to the lower support trendline of a tightening descending triangle, suggesting an imminent breakout. How it handles this level would be important in its subsequent direction.
Key Points
Cardano (ADA) is trending near a key area in a descending triangle, and analysis highlights two possible price trend scenarios.Cardano entered this triangle since the 2021 peak of $3.10, shuffling between the structure’s top and bottom.Cardano dropped to $0.22 last week, aligning with the bottom of a descending triangle on the weekly chart.ADA could still fall below the lower support level, targeting sub-$0.20, and remain there for a while.However, #Cardano and the broader crypto market could “break rules and patterns,” with the former targeting a breakout to $2.99.
Price Scenarios for Cardano
Analysis from Cobra Vanguard identified this crucial area in a recent TradingView commentary. Cardano dropped to $0.22 last week, aligning with the bottom of a descending triangle on the weekly chart.
Cardano entered this triangle following the 2021 peak of $3.10, shuffling between the structure’s top and bottom. Earlier attempts to break above have proven abortive, with the lower support successfully cushioning downward momentum so far.

While the cryptocurrency has rebounded 18% from last week’s low to its current price, the possibility of a downward move remains. Cobra Vanguard highlighted this as one of the likely scenarios for Cardano, noting that it could still lose this support.
If this does happen, the analyst suggested that ADA would drop below $0.20 and could stay there for a while. Notably, the coin has not fallen below this level since breaking above it in January 2021 to reach the current all-time high and the descending triangle’s top around $3.10.
Breaking below this level places Cardano on course to retest lower support levels at $0.077. Further weakness could drive the asset to its historical price lows around $0.017.
ADA Could “Break Rules and Patterns”
However, the analysis also identified that Cardano and the broader crypto market could “break rules and patterns.” In the meantime, the sector is aligning with the four-year cycle, with Bitcoin peaking at $126,200 in October, then dropping almost 50% from there.
Although most indicators point to a bear market, Cobra Vanguard noted that there is still room for a break in the pattern, which could steer a market recovery. In this scenario, he expects ADA to break above the descending triangle and target higher prices.
Specifically, he sees a push above $0.60 as the first possible step to confirm the breakout before a rally to $2.99. From the current market price of $0.266, this represents a 1,024% price increase.
In the meantime, Cardano remains weak with bears on top. The scenario in which ADA and the crypto market regain bullish momentum remains highly contentious, with some analysts predicting it could take months.
#CryptonewswithJack

Bitcoin’s recent price action has sent shockwaves through the digital asset landscape, mirroring the intensity of the 2022 FTX collapse. Over the past 24 hours, the flagship cryptocurrency experienced a sharp decline toward the $60,000 mark, driven by an accelerated selloff. While BTC has since staged a partial recovery to approximately $69,800, on-chain data reveals a market still grappling with significant structural pressure. 📉

🔍 The Gap Between Price and On-Chain Reality
Data from Glassnode highlights a stark divergence between Bitcoin's spot price and several critical on-chain benchmarks. As the market plunged, the price fell well below key investor cost bases:

Short-Term Holder (STH) Cost Basis: $94,000 🚩

Active Investors Mean: $86,800 🚩

True Market Mean: $80,100 🚩

Current Realized Price: $55,600 📍

📉 A Mechanical Unwind, Not a "Smoking Gun"
While social media platforms like X (formerly Twitter) were flooded with speculative theories—ranging from hedge fund collapses in Hong Kong to yen-funding volatility—the evidence suggests a more technical and mechanical "unwind." ⚙️

The primary drivers of this volatility include:

Persistent ETF Outflows: US spot Bitcoin ETFs have seen over $6 billion in net outflows over the last four months. This shift removes the "automatic dip buyer" from the equation, leaving the market vulnerable to sharp downward breaks. 🏦

Unrealized Losses: Bloomberg analysts note that ETF holders are currently facing their deepest losses since the products launched in January 2024, with the current pullback representing a 42% decline from the local high. 📊

Liquidation Cascades: Once key support levels failed, a mechanical domino effect took over. Over $1.2 billion in leveraged positions were liquidated, turning a standard correction into a violent descent. 🌊

🐋 Whale Behavior and Market Capitulation
On-chain signals confirm that investors are locking in losses at a scale not seen since the 2022 bear market. On February 4, realized losses reached $889 million per day, a clear indicator of capitulation. 🏳️

Furthermore, CryptoQuant data tracked significant whale activity on Binance, with large-scale holders moving supply onto exchanges—likely to sell or hedge their positions. This influx of supply, combined with thinning liquidity, has allowed forced selling to dominate price discovery. 🚢

What’s Next?
The current environment reflects a market flushing out excess leverage. While the "narrative vacuum" remains filled with rumors, the data points to a straightforward correction fueled by ETF outflows and forced liquidations.

#Bitcoin #CryptoMarket #BlockchainData #BTC #CryptonewswithJack

$BTC