Solana’s price has faced significant struggles in recent weeks, particularly in its attempt to breach the key resistance of $183. The altcoin’s inability to break through this level has caused a pullback, leaving it trading at around $150. 

The recent market conditions, marked by a Death Cross, suggest more downward pressure could be ahead.

Solana Faces A Death Cross

Solana recently experienced its first Death Cross since October 2023, ending a 17-month streak of Golden Cross formations. The Death Cross occurs when the 200-day exponential moving average (EMA) crosses over the 50-day EMA. Historically, this is a bearish signal for the asset, as it suggests weakening momentum and potential further declines. 

This technical indicator raises concerns about Solana’s ability to recover and may trigger additional selling, contributing to a downward spiral. The appearance of the Death Cross often indicates that sellers are in control of the market, and the price may continue to slide. 

The overall macro momentum of Solana has also shown signs of weakening. A significant indicator of this shift is the decrease in new addresses interacting with the Solana network. The number of new addresses has dropped to a 4-month low, signaling a lack of new investor interest. 

This decline suggests that Solana is losing traction in the market, as investors do not see an immediate incentive to pour capital into the altcoin. As the number of new participants decreases, Solana faces a risk of further stagnation. 

SOL Price Needs A Boost

At the time of writing, Solana’s price stands at $149, about 23% away from the critical resistance of $183. While the altcoin remains above $137, it will struggle to regain upward momentum unless it can breach this resistance level. Without a reversal at this level, Solana could remain trapped within its current downtrend.

Given the bearish technical factors, Solana may struggle to maintain its current price level. The next key support for Solana lies at $131. If the downtrend continues, a drop to this level could be imminent. Losing support at $131 could lead to further declines, with a potential drop to $120 in the short term.

The only way to invalidate this bearish outlook is if Solana can capitalize on the broader market recovery. If the altcoin can breach $161, it would be a strong sign that it is gaining strength again. A successful flip of this resistance into support could set the stage for a move past $183 and a reversal of the current downtrend.

Ethena (ENA) has recently experienced a price uptick of 17%, following a challenging start to the year. This rise, however, comes after significant losses that started early in 2025, exacerbated by a massive token unlock event in the last 48 hours. 

Despite some positive movement, ENA still faces major hurdles in securing a sustained breakout.

Ethena Faces A Bearish Event

The market sentiment surrounding Ethena has been marked by increased selling activity, especially in the days leading up to the March 5 token unlock. Within a 24-hour period before the event, approximately 149 million ENA tokens, worth around $60 million, were sold.

This was in response to the expectation that the unlock, which involved $833 million worth of tokens, would flood the market, affecting the supply-demand balance and driving down prices.

Token unlock events often result in price declines, as the influx of new tokens dilutes the value of existing ones. This dynamic has spooked many investors, especially those who held large amounts of ENA, leading to a sharp rise in balances held on exchanges. Many opted to sell in an attempt to prevent further losses, further contributing to the downward pressure on the price.

Ethena’s overall momentum has also been negatively affected by the actions of long-term holders (LTHs). The Mean Coin Age (MCA) indicator has shown a significant downtick. This signals that LTHs began liquidating their positions even before the broader market reacted.

LTHs are considered the backbone of any cryptocurrency. Thus, their selling behavior is often a sign of weak sentiment toward the asset. 

The decrease in the MCA reflects the loss of confidence among these long-term holders, adding further pressure to Ethena’s price. When LTHs exit their positions, it often signals a broader market reluctance to hold, which can keep the price in a downtrend for an extended period.

ENA Price May Face Some Challenges

At the time of writing, Ethena’s price stands at $0.404, just under the resistance level of $0.434. Despite a 17% rise, this move was not enough to reverse the broader downtrend. For ENA to break free of the current market conditions, it needs to breach the $0.434 barrier and sustain higher levels decisively. 

If the bearish sentiment persists and the aforementioned factors worsen, Ethena could see a decline toward the $0.326 support level. Should this support fail, further downside risk remains, with the price potentially slipping as low as $0.259, confirming the bearish outlook.

However, if investor sentiment shifts and there is a concerted effort to accumulate ENA at these lower prices, a breakout could be on the horizon. A successful breach of $0.434, followed by a flip into support, would set ENA on a trajectory toward $0.602. This scenario would invalidate the bearish thesis and provide a path for long-term recovery.

Bitcoin price started a recovery wave from the $82,000 zone. BTC is back above $88,500 and might revisit the $95,000 resistance zone.

• Bitcoin started a fresh upward move from the $82,000 zone.
• The price is trading above $90,000 and the 100 hourly Simple moving average.
• There was a break above a connecting bearish trend line with resistance at $90,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another decline if it fails to clear the $95,000 resistance zone.

Bitcoin Price Starts Recovery

Bitcoin price started a fresh decline below the $92,000 level. BTC traded below the $90,000 and $88,000 support levels. Finally, the price tested the $82,000 support zone.

A low was formed at $81,434 and the price recently started a recovery wave. There was a move above the $85,000 and $88,000 resistance levels. The bulls pushed the price above the 50% Fib retracement level of the downward move from the $95,000 resistance to the $81,434 low.

There was also a break above a connecting bearish trend line with resistance at $90,000 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading above $90,000 and the 100 hourly Simple moving average.

On the upside, immediate resistance is near the $91,800 level or the 76.4% Fib retracement level of the downward move from the $95,000 resistance to the $81,434 low. The first key resistance is near the $92,500 level. The next key resistance could be $93,500.

A close above the $93,500 resistance might send the price further higher. In the stated case, the price could rise and test the $95,000 resistance level. Any more gains might send the price toward the $96,200 level or even $98,000.

Another Decline In BTC?

If Bitcoin fails to rise above the $92,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $88,000 level. The first major support is near the $86,200 level.

The next support is now near the $85,000 zone. Any more losses might send the price toward the $82,000 support in the near term. The main support sits at $80,000.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $88,000, followed by $85,000.

Major Resistance Levels – $92,000 and $93,500.