Technical Analysis: Market Downturn Hits Hard – $SOL , $ADA , #SHIB , #SUI , #LINK , $NEIRO , and #PENGU ...
The crypto market is under significant bearish pressure, with SOL taking a 9.81% hit, now trading at $195.13. SOL is at a critical juncture, with support near $190. A failure to hold above this level could lead to further downside toward $185. ADA has seen a steep decline of 14.65%, trading at $0.8938, breaking below the psychological $0.90 mark. A rebound could push ADA toward $0.92, but continued selling may pull it closer to $0.85. SHIB also faces a sharp drop of 14.96%, trading at $0.00002205, testing crucial support at $0.00002150. A break below this could lead to a slide toward $0.00002050.
Altcoins like SUI and LINK are not spared, with SUI losing 10.90% to trade at $4.21, nearing critical support at $4.10. LINK, down by 17.55% at $22.84, is facing heavy selling and may test $22 as its next major support level. Among smaller caps, NEIRO leads the losers with a massive 26.27% decline to $0.00102727, and PENGU follows with a 24.59% drop to $0.028749. Both coins are in freefall, testing key supports. NEIRO could drop further to $0.001, while PENGU risks heading toward $0.025. Traders should proceed with caution, employ tight stop-losses, and look for consolidation zones or signs of recovery to make profitable moves.
