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Bitcoin (BTC) Loses $100,000: What’s Next?
The recent downturn in the cryptocurrency market has led to a significant decline in Bitcoin’s value. The coin has lost over $100,000 since its all-time high, leaving investors concerned about what could happen next.
While it is difficult to predict with certainty, one thing is clear – this downward trend has worrying implications for the entire crypto space. Solana (SOL), which is currently trading at around $150, may potentially test its support level in the coming days if the 200 EMA is breached.
This would not only be a significant setback but also pose risks of even lower levels. The Relative Strength Index (RSI) has fallen to 31, indicating that the asset has entered oversold territory, which could lead to an upward correction before reversing again.
The current bearish sentiment surrounding major cryptocurrency markets exacerbates Solana’s challenges on the larger market stage. This lack of confidence in the broader space may further damage investor trust if SOL fails to break through its 200 EMA resistance level.
Source: u.today
