These Two Top Tokens are Sliding Into a Bearish Well-How Long Can XRP & SOL Price Bear the Heat?
The cryptocurrency market is shrinking again as Bitcoin’s price is losing control of its rise as it struggles to stay above $98,500. This caused other top altcoins such as Ethereum to lose support and fall below $3,900. As a result, other altcoins in the top 10, such as XRP and Solana, are facing significant selling pressure. These coins have formed huge bearish candles and are therefore believed to be testing key support levels.
Will XRP $ SOL price pull back this week? If so, here’s a look at where it could be by the weekend.
this Ripple price It has struggled to move above interim highs around $2.75 since the start of the month, but bearish holding appears to be above buying pressure. As a result, prices fall faster. Additionally, volume has also decreased, indicating that the bulls may be facing some exhaustion and after maintaining the subdued trend, they are expected to use all accumulated power to push the price above $3.
XRP’s STF chart indicates significant upward pressure on the price. Bulls remain passive while waiting for the coin to reach the buying range. After rejecting the resistance of the expanding channel, the price is about to reach support, which may confirm the end of the pullback. Additionally, the RSI is forming consistently lower highs and lows, validating the bearish proposition. Therefore, as the Ichimoku chart is about to turn bearish, the base and conversion lines are heading towards a bearish crossover, and the price is expected to hit support near $2.
Despite the increasingly bearish scenario, XRP price is poised to rise and regain lost ground, eventually reversing the strong upward trend and hitting highs above $4.
What’s next for Solana (SOL) price growth?
Solana attempted to break out of the bearish pattern but ultimately failed to clear the key resistance near $245. As a result, the bulls lost most of their power, pushing the price back into the bearish territory. With this move, the target was lowered SOL price If the bulls fail to keep the coin above $220, prices near $210 remain active.
In the short term, SOL prices are within a falling wedge, so a rebound is very likely. Stochastic RSI moves into oversold territory and prepares for a bullish crossover. The MACD indicates that selling pressure continues to increase, which may force the price below the $223 support, and after reaching the support just below $220, a strong rebound may lift the price to $235. If the bulls show strength, the price is expected to break out of this range and head into the resistance zone between $247.78 and $249.59.
If the bulls show strength and market sentiment turns extremely bullish, expect Solana (SOL) price to rise towards a new ATH near $275.
