SOL is one biggest losers in the last four days. The altcoin is one of the biggest losers in the last seven days, down by over 13%.
Although the bulls attempted to recover, they failed as the barrage of negative fundamentals rolled in. The coin continued to plummet but is consolidating in price at the time of writing.
The situation with SOL describes what the rest of the market is experiencing. Most crypto dipped earlier on Friday, pushing the global cryptocurrency market cap even lower. It slipped to $2.75 trillion a few hours ago but rebounded and is worth $2.80 trillion.
Friday is coming to an end, and the crypto market has seen one of its biggest trading volumes. The buys and sells grew by over 40% in the last 24 hours.
Hedera is one of the top gainers during this period. It opened the day at $0.199 but slipped to a low of $0.179 before rebounding. It surges past its opening price, hitting a high of $o.21 a few hours ago and gaining over 7%.
Berachain resumes its uptrend after a significant dip. It retraced to a low of $7.20 before rebounding and surging to a high of $8.55. It trades slightly below its peak but is up by over 2%.
The cryptocurrencies in the top 10 experienced a similar movement to the top gainers. Let’s see how they trended
BTC/USD
Bitcoin dipped from $84,621 to a low of $78,197. The apex coin dropped below $80k for the first time in three months. However, it rebounded and pulled back some of the losses. At the time of this writing, it trades close to its opening price.
It may end Friday close to its opening price like it did during the previous day. The largest coin printed a doji on Thursday as it retraced from a high of $86,988 to a low of $82,61 but rebounded and closed at its opening price.
BTC is oversold. The relative strength slipped below 30 on Tuesday when the second wave of selloffs hit the market. It hit a low of 24 a few days ago but continues below 30. It is worth noting that the moving average convergence divergence prints sell signals. The 12-day EMA and 26-day EMA have since continued downward following the bearish divergence.
ETH/USD
Ethereum is one of the top losers in the top 10 over the last seven days. The one-day chart shows that the largest altcoin has one of the most bearish weeks as it printed no green candle since Monday.
ETH is currently grappling with significant selling, around $2,200. The latest trend started when it opened Friday at $2,305 but dipped to a low of $2,073 a few hours ago. The altcoin rebounded but has yet to erase the losses incurred.
Ethereum shows no recovery prospects before the end of the day as traders continue selling. Data from CryptoQuant shows growing exchange reserves and a bearish derivatives market, with long positions being the biggest losers.
The relative strength index slipped below 30 a few hours ago. It is trending at 28 at the time of writing as it sees maximum selling pressure. MACD continues printing a sell signal as the 12-day EMA and 26-day EMA trend downward following a bearish divergence a few days ago.
XRP/USD
The one-day chart shows XRP tried to resume its uptrend after Monday’s declines. It retested the $2 support on Tuesday but rebounded as it saw a buyback. It recovered and closed at $2.31. The upticks ended the next day as the altcoin saw massive selloffs.
At the time of writing, it is grappling with significant selling pressure. XRP retraced to a low of $1.94 a few hours ago but rebounded and trades at $2.14.
Indicators like the moving average convergence divergence show no end to the downtrends. A few days ago, the 12-day EMA intercepted the 26-day EMA. The divergence is ongoing, with notable selling actions continuing.
The relative strength index is on the verge of breaking below 30. It declined as prices did and trends at 33.
BNB/USD
Binance coin is not exempt from the ongoing downtrend. Like SOL, it is on the verge of breaking another key level. The altcoin retraced from $605 to a low of $559 a few hours ago. It rebounded and trades at $588 at the time of writing.
BNB saw another dent in its attempt at recovery. It printed its only green of the week on Tuesday as the bulls tried to buy back. The trial followed the coin dip to $586. They had limited success on the second day of the week but lost momentum the next day.
The altcoin had its bearish divergence on Monday, as it experienced a notable decline a few days ago. MACD displayed the interception, and a divergence followed. The 12-day EMA and 26-day EMA continue downwards.
SOL/USD
Solana prints its first significant green candle. It opened the day at $137 but slipped lower, hitting a low of $125. The asset rebounded and recovered. It met strong buyback as the bulls rallied the coin. It trades at $146, over 6% higher than it opened the day.
Solana investors started the bid to stage a comeback the previous day. The coin opened Thursday at $135 and surged to a high of $142, but it faced strong rejections, resulting in the SOL decline. However, it closed with notable gains.
SOL was oversold on Feb 24 following Monday’s massive declines. It lost a whopping 15% and hit a low of $137 from $167. RSI recovered above 30 a few hours ago as buying volume spiked.
The moving average convergence shows signs of more uptrends as the 12-day EMA halted its downhill movement. It trends parallel, and an ascent may follow as trading conditions become more favorable.
DOGE/USD
Like SOL, DOGE is oversold but shows slight signs of recovery. A few hours ago, the asset retraced to a low of $0.181. It met buyback and retraced and now trades close to its opening price at $0.20. However, this was not enough to see the RSI return above 30.
The altcoin had its bearish divergence on Monday, as it experienced a notable decline a few days ago. MACD displayed the interception, and a divergence followed. The 12-day EMA and 26-day EMA continue downwards.
