Ready to Skyrocket Long Term
The post Ready to Skyrocket Long Term appeared on BitcoinEthereumNews.com.
Solana back? Dogecoin looks fine long term Market optimism has been sparked by Bitcoin’s recent surge above $90,000, but the breakout’s viability is beginning to question itself. The price is currently trading around $94,600 but the volume profile is weakening, indicating that momentum is waning. Furthermore soft volume can be disastrous for trend continuation in a market where conviction counts. Although the price has increased significantly from its April lows, there is no evidence of growing buyer interest to support this recovery. Bulls are concerned because volume has been steadily declining since the breakout. Since Bitcoin is hovering just below the psychological $95,000 mark, it runs the risk of forming a local top and rolling over in the absence of stronger inflows. BTC/USDT Chart by TradingView Although this is not quite the point of surrender or collapse, it is beginning to feel overextended. Technically speaking, Bitcoin is above all significant moving averages, such as the 50-day, 100-day and 200-day, indicating structural strength. At 66, the RSI is rising but is still below overbought levels, providing some leeway. However, the short-term outlook is more precarious than it appears. It is very likely that Bitcoin will return to $85,000-$86,000. This is if it breaks below $89,200 and fails to hold the $90,000 support. On the other hand, a clear break above $95,000 with fresh volume might spark a rally back toward $100,000, but that situation calls for more than just optimism. Solana back? Following a brief rally, Solana is losing ground as price action now suggests a waning bullish structure. With a current price of about $146, the asset is perilously near the crucial $140 support level, which is a bull’s dream. If this level is broken, the 26-day EMA, which is now trading at $139, will probably be retested. Exhaustion is…
