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Bitcoin's price continues to struggle, facing significant technical resistance. The 200-day Exponential Moving Average (EMA), a key indicator of trend reversals, has repeatedly rejected Bitcoin's attempts at recovery. This inability to overcome resistance raises concerns about further downward movement in the coming weeks.

Bitcoin is currently trading around $82,000, continuing a downward trend from recent highs. Rejection at the 200 EMA highlights persistent bearish sentiment. Declining trading volume further underscores weak buying pressure, increasing the risk of another sell-off.

The market's weakening is evident in Bitcoin's difficulty establishing strong support. Recent lower highs indicate sellers regaining control, potentially pushing Bitcoin back towards previous support levels. Failure to hold the $80,000 mark could see Bitcoin drop to the next significant support around $75,000, signaling a deeper correction.

The broader cryptocurrency market remains turbulent, with major altcoins mirroring Bitcoin's struggles. Regulatory concerns and macroeconomic uncertainties contribute to cautious investor sentiment. The Relative Strength Index (RSI), while in neutral territory, shows weakening momentum, supporting the notion of a short-term recovery being unlikely.

Bitcoin's failure to reclaim key resistance levels suggests a continuation of the bearish cycle. Without a significant market shift or surge in buying volume, further downward pressure is likely. Traders should closely monitor the $80,000 support level, as a breach could trigger a more substantial decline.

Dogecoin's Struggle

Dogecoin remains under pressure as it attempts to break through the crucial $0.18 resistance level. Repeated failures to surpass this barrier indicate weak market strength. This persistent rejection suggests further declines are possible.

The $0.18 resistance has consistently thwarted Dogecoin's attempts to reach previous highs, leading to price drops with increased selling pressure near this level. The inability to overcome this resistance reflects overall market weakness and a lack of substantial buying support.

Exacerbating Dogecoin's woes is the emergence of a death cross—a bearish technical pattern where the short-term moving average crosses below the long-term moving average. This pattern diminishes the likelihood of a short-term recovery, suggesting a prolonged downward trend. As long as this bearish formation persists, DOGE may experience continued sell-offs and weak reversal attempts.

If DOGE fails to recover, the next significant support lies around $0.16. A break below this level could trigger further drops, potentially testing the lower support zone near $0.14. The market's inability to sustain bullish momentum remains a significant concern for Dogecoin investors.

Solana's Ascending Triangle

Solana, after a prolonged decline, continues to face significant downward pressure and struggles to regain momentum. Despite the challenges, a subtle, potentially positive sign has emerged: the formation of higher lows. This technical pattern often indicates a potential reversal, suggesting buyers are entering at slightly higher levels, potentially paving the way for a more stable recovery.

However, Solana's overall market outlook remains challenging. A death cross on the charts—where short-term moving averages fall below long-term averages—has trapped the asset in a persistent downtrend. Such patterns typically indicate extended bearish conditions, making it difficult for SOL to break out of its current range.

Technically, resistance levels at $143 and $169 would significantly hinder any potential recovery. A clear break above these levels is necessary for Solana to establish long-term bullish momentum. Furthermore, lower highs during previous recovery attempts highlight the ongoing battle against selling pressure. The overall market sentiment must also be considered.

In a volatile cryptocurrency market, weaker assets like Solana may find a comeback more difficult. If Bitcoin and other major assets fail to recover, SOL could face further downside risks. Despite these concerns, the higher lows suggest some buyer resilience. Maintaining above $125 and gaining momentum could lead to a test of immediate resistance levels.

Conversely, failure to hold support could prolong the downtrend, leaving the asset vulnerable to further losses. Given Solana's critical juncture, traders and investors should closely monitor price action in the coming days. Ultimately, investor confidence and overall market conditions will determine whether this potential price signal represents a genuine recovery or merely a temporary respite in the bearish trend. Read original article on U.Today