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Solana Price Analysis: SOL Shows Recovery Signs After Reclaiming Critical Technical Level

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Solana (SOL) Price

TLDR

  • SOL retreated from $90 to test support around $85 before stabilizing near $87
  • The Relative Strength Index reads 47.68 — indicating neutral momentum without decisive bullish pressure
  • For the first time since January, SOL has moved back above the Ichimoku cloud on 4-hour timeframes
  • Technical observers identify $88.60 as a critical resistance threshold; clearing it may trigger moves toward $95–$100
  • A bullish crossover occurred as the 50MA moved above the 100MA, suggesting improving short-term momentum

Solana (SOL) is currently changing hands in the $87–$88 range following a retreat from its recent peak of $90.29. The digital asset tested levels below both $88 and $87 before stabilizing above the crucial $85 support zone.

Solana (SOL) Price
Solana (SOL) Price

The token maintains its position above the 100-hourly simple moving average at present. Trading activity over the past day totals $9.99 billion in volume, while market capitalization stands at $49.91 billion. Price action reflects a 4.70% gain across the 24-hour period.

This recent retracement pushed SOL beneath the 50% Fibonacci retracement level calculated from the $81.71 low to the $90.29 high. Chart technicians have identified a bullish trend line developing on hourly timeframes, with support clustering near $85—a level that coincides with the 61.8% Fibonacci retracement.

On March 2, market analyst BitGuru suggested that SOL might be transitioning from correction into consolidation territory. His assessment highlighted the formation of higher lows near established support zones, indicating diminishing downside momentum.

Technical observers have zeroed in on $88.60 as the immediate level that needs reclaiming. According to market commentator More Crypto Online, a successful push above Sunday’s high at $88.60 would demonstrate renewed buyer strength.

Key Resistance Levels to Watch

Immediate resistance appears at $88, followed by $90 and $92. Successfully closing above $92 would potentially clear the way for tests of $96 and subsequently $100.

Should SOL struggle to overcome the $90 barrier, downside targets emerge at $84 and then $82. Breaking below $82 could expose the token to further weakness toward $76.50.

The Relative Strength Index currently registers 47.68—positioned in neutral territory without extreme conditions. The MACD indicator shows 1.80, marginally positive but still trailing the signal line at -4.29. While bearish pressure appears to be diminishing, bullish momentum hasn’t fully established dominance.

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Solana remains positioned considerably below its major moving averages across longer timeframes. The 50-day SMA stands at $103.66, while the 100-day rests at $117.73, and the 200-day sits at $156.34.

Ichimoku Cloud Break Signals Shift

Analyzing the 4-hour timeframe reveals that SOL has successfully reclaimed position above the Ichimoku cloud—marking the first such occurrence since January. During the entire month of February, all upward movements met resistance at this cloud formation.

Additionally, the 50-period moving average has executed a bullish crossover above the 100-period moving average on 4-hour charts. Technical analyst CryptoCurb characterized this development as representing a meaningful shift in underlying trend structure.

Both moving averages are now beginning to slope upward. Chart projections presented by CryptoCurb indicate potential for movement toward $100 and higher levels, provided the token sustains its position above recently reclaimed technical zones.

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Currently, SOL is valued at $87.64 with preliminary recovery indicators emerging, though a definitive trend reversal remains unconfirmed at this stage.

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Crypto World

Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens

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Ethereum Price Prediction

Crypto analyst Ansem argues that Ethereum (ETH) is in a “worse spot” in 2026 than it was in 2023, pointing to a thesis he says has been eroding for years.

His bearish take drew rebuttals from some members of the community. Meanwhile, on-chain activity and technical indicators elsewhere on the network flash bullish signals.

Ansem Lists Cracks in the ETH Thesis

Ansem argues that Solana (SOL) has dominated retail activity this cycle. Hyperliquid has taken the lead in perpetual futures trading, while rollups have failed to gain traction.

He also noted that Vitalik Buterin “publicly abandoned” the general-use rollup thesis. The ongoing Aave (AAVE) situation around the KelpDAO rsETH exploit, Ansem said, is a mark on  Ethereum’s core value proposition of “safety + security of defi & insto interest.

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“ETH thesis has been weakening consistently for years,” the analyst wrote. ETH in 2026 is in a worse spot than it was in 2023, amplified by AI doing extremely well & tech stocks being much more favorable investments with real revenues / emerging narratives / increasing momentum, ETH is a $300B asset with a ton of overhang from Tom Lee topblasting + complacent ETH holders sitting idle in defi protocols.”

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Technically, the analyst noted that ETH remains in a sustained downtrend after failing to break multi-year resistance. He projected that the second-largest cryptocurrency could slip to 2025 lows near $1,300 and to the bear-market lows from 2022.

“Tight invalidation 2377 assuming problems worsen if you want to play it loose assuming other risk assets continues doing well & drags it up probably somewhere around 2700/2800 invalidation fundamentals wise would want to see breakout activity from some new vertical,” the post read.

Ethereum Price Prediction
Ethereum Price Prediction. Source: X/Ansem

Community Members Push Back

The take triggered notable pushback. Ryan Berckmans accused Ansem of not understanding fundamentals. Leo Lanza went further, sharply dismissing the analyst’s bearish case on X.

Another user pointed to a 56% drop in the SOL/ETH pair this cycle.

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“Soleth is down 56% after being up 12x+ *this cycle* because one guy decided to buy 5% of the eth supply after it had underperformed all cycle. idk why you guys act like i dont also bearpost solana i havent posted anything bullish about sol in over a year,” Ansem replied.

Not everyone shares the bearish view on Ethereum. BeInCrypto recently highlighted that network activity remains strong, while technical indicators like the Rainbow Chart and MACD are also flashing bullish signals.

With macro and geopolitical uncertainty still in play, the question is whether ETH slides further this year or stages a renewed rally.

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The post Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens appeared first on BeInCrypto.

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

Total value locked on decentralized lending protocol Aave dropped by nearly $8 billion over the weekend after hackers behind the $293 million Kelp DAO exploit borrowed funds on Aave, leaving roughly $195 million in “bad debt” on the protocol and triggering withdrawals.

Data from DeFiLlama shows that Aave’s TVL fell from about $26.4 billion to $18.6 billion by Sunday, losing the top spot as the largest DeFi protocol. 

Aave v3’s lending pools for USDt (USDT) and USDC (USDC) are now at 100% utilization, meaning that more than $5.1 billion worth of stablecoins cannot be withdrawn until new liquidity arrives or borrows are repaid. 

$2,540 is available to be withdrawn from the $2.87 billion USDT pool on Aave v3 at the time of writing. Source: Aave

Aave’s TVL fall shows how rapidly risk from a single security incident can spread throughout the broader, interconnected DeFi lending market, potentially leading to a severe liquidity crisis.

The incident began on Saturday when hackers stole 116,500 Kelp DAO Restaked ETH (rsETH) tokens worth about $293 million from Kelp DAO’s LayerZero-powered bridge and used them as collateral on Aave v3 to borrow wrapped Ether (wETH).

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Crypto analytics platform Lookonchain said the move created about $195 million in “bad debt” on Aave, which contributed to the Aave (AAVE) token tanking nearly 20% from $112 on Saturday at 6:00 pm UTC to $89.5 about 25 hours later. 

Lookonchain noted that some of the largest crypto whales to withdraw funds from Aave were the MEXC crypto exchange and Abraxas Capital at $431 million and $392 million, respectively.

Source: Grvt

Several crypto networks and protocols tied to rsETH or the LayerZero bridge have paused use of the bridge until the problem is resolved, including DeFi platform Curve Finance, stablecoin issuer Ethena and BitGo’s Wrapped Bitcoin (WBTC).

Aave has frozen several rsETH, wETH markets

Shortly after the Kelp DAO exploit, Aave said it froze the rsETH markets on both Aave v3 and v4 to prevent any suspicious borrowing and later stated that rsETH on Ethereum mainnet remains fully backed by underlying assets.

WETH reserves also remain frozen on Ethereum, Arbitrum, Base, Mantle and Linea, Aave said.

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This incident marks the first significant stress test of Aave’s “Umbrella” security model, which was introduced in June 2025 to provide automated protection against protocol bad debt while enabling users to earn rewards.

Related: Aave DAO backs V4 mainnet plan in near-unanimous vote

Earlier this month, the Bank of Canada found that Aave avoided bad debt in its v3 market by using overcollateralization, automated liquidations and other strategies that shifted risk to borrowers.

In comments to Cointelegraph, Aave defended its liquidation-based model, framing it as a core safety mechanism that protects lenders while limiting downside for borrowers.

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It comes as Aave parted ways with its longest-standing DeFi risk service provider, Chaos Labs, on April 6, following disagreements over the direction of Aave v4 and budget constraints.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?