Bitcoin Nears $100,000 Breakout While Cardano and Solana Hit Critical Levels

Bitcoin Inches Closer to $100,000 Breakthrough

Bitcoin is making its fifth attempt to breach the $100,000 resistance level, currently trading at $98,166. Despite market turbulence, Bitcoin has shown resilience, with repeated tests of this resistance potentially weakening selling pressure. A breakout above $100,000 could propel Bitcoin to $120,000 or even $150,000 in the next price discovery phase.

However, failure to sustain above $100,000 could lead to market correction. Key support levels include $95,000 and $93,000, followed by the 200 EMA at $83,500. This may be one of Bitcoin's final attempts in the current cycle before the market transitions to a new phase.

Cardano Shows Recovery Potential

Cardano (ADA) has retraced to the 200 EMA, a significant long-term support level, signaling a potential recovery. After a steep decline, ADA has started to stabilize, with early signs of a 50% recovery if momentum persists. Historically, ADA has bounced back well from similar moving averages, suggesting a retest of higher levels is possible.

The next major resistance is the 100 EMA, which will determine the strength of ADA's rally. Regaining the $0.88-$0.90 range could trigger a bullish continuation, potentially pushing ADA above $1.00. However, without consistent high volume and bullish follow-through, another decline remains possible.

Solana Reaches a Critical Price Level

Solana (SOL) is near $202, where the 200 EMA may act as a significant accumulation zone. This level could determine whether SOL finds support for recovery or continues its decline. Historically, the 200 EMA has served as a long-term support during retracements.

If buying pressure increases, SOL could reverse and test higher resistance levels. The first obstacle is $211, where previous support may turn into resistance. Breaking above $219 could confirm a bullish reversal, while failure to hold $200 might lead to further declines. The next significant support level is $189.

The upcoming days will be crucial for Solana, as buyers defending the $200 area could reignite momentum. If this level is not maintained, SOL may face deeper declines and new multi-week lows.