Solana failed to settle above $125 and extended losses. SOL price is now 
consolidating losses below $120 and might struggle to start a recovery wave. 
SOL price started a fresh decline below $120 and $115 against the US Dollar. 
The price is now trading below $120 and the 100-hourly simple moving average. 
There is a key bearish trend line forming with resistance at $116 on the 
hourly chart of the SOL/USD pair (data source from Kraken). The price could 
start a recovery wave if the bulls defend $112 or $105. Solana Price Dips 
Again Solana price failed to remain stable above $125 and started a fresh 
decline, like Bitcoin and Ethereum. SOL declined below the $125 and $122 
support levels. The price gained bearish momentum below $120. A low was formed 
at $112, and the price is now consolidating losses. The price recovered a few 
points and climbed toward the 23.6% Fib retracement level of the downward move 
from the $128 swing high to the $112 low. Solana is now trading below $120 and 
the 100-hourly simple moving average. On the upside, immediate resistance is 
near the $116 level. There is also a key bearish trend line forming with 
resistance at $116 on the hourly chart of the SOL/USD pair. The next major 
resistance is near the $120 level or the 50% Fib retracement level of the 
downward move from the $128 swing high to the $112 low. The main resistance 
could be $122. A successful close above the $122 resistance zone could set the 
pace for another steady increase. The next key resistance is $125. Any more 
gains might send the price toward the $132 level. Another Drop In SOL? If SOL 
fails to rise above the $116 resistance, it could continue to move down. 
Initial support on the downside is near the $114 zone. The first major support 
is near the $112 level. A break below the $112 level might send the price 
toward the $105 support zone. If there is a close below the $105 support, the 
price could decline toward the $102 support in the near term. Technical 
Indicators Hourly MACD – The MACD for SOL/USD is losing pace in the bearish 
zone. Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is 
below the 50 level. Major Support Levels – $112 and $105. Major Resistance 
Levels – $116 and $120.

Solana (SOL) Crashes Back To $112, A Level That Could Decide Everything

Ethereum (ETH) has retested its crucial $2,800 support level for the second 
time this week, as the broader crypto market erases all its intraweek gains. 
Some market observers have weighed in on whether investors should worry about 
King of Altcoin’s performance. Related Reading: Analysts Say Dogecoin 
Consolidation Is About To End – Parabolic Run Or Crash Ahead? Ethereum Plunges 
Amid Broader Market Crash On Thursday, global markets experienced a sharp 
decline, with stocks, cryptocurrencies, and even precious metals erasing over 
$3 trillion in market value in just a few hours. Ethereum, the second-largest 
cryptocurrency by market capitalization, followed the market-wide correction, 
retracing 6.9% in the daily timeframe. The cryptocurrency has been hovering 
between $2,800 and $3,300 since the start of the year and attempted to reclaim 
the upper zone of this range this month. Nonetheless, the recent geopolitical 
tensions and macroeconomic uncertainty have weakened the appetite for risk 
assets and halted the crypto market’s early January momentum. According to 
Binance market data, Ethereum fell below $2,800 on Thursday morning, briefly 
bouncing before reaching a one-month low of $2,773. Meanwhile, the leading 
cryptocurrency by market capitalization, Bitcoin (BTC), saw a sharp 6.2% 
decline, reaching a two-month low of $83,934. Data from CoinGlass shows that 
crypto liquidations over the past 24 hours surged to nearly $1 billion, with 
$917.17 million in leveraged positions forcibly closed at the time of writing. 
During this period, 223,915 traders were liquidated, and the largest single 
liquidation order happened on Hyperliquid, valued at $31.64 million. Notably, 
more than half of the liquidations occurred in the past four hours, wiping out 
over $620 million since the morning. Around $422 million came from Bitcoin 
positions, while $160 million came from Ethereum positions. ETH Price In 
‘Endless Range’ Amid the market correction, some analysts shared their 
perspective on ETH’s price action. Sjuul from AltCryptoGems highlighted 
Ethereum’s price range in the daily chart, where the altcoin has hovered over 
the past two months. According to the analyst, there isn’t a clear trend as 
Ethereum continues to trade within its “seemingly endless range” between 
$2,600 and $3,350. He suggested that investors should wait for a proper 
breakout above the upper boundary or a breakdown from the range lows before 
celebrating or worrying. Similarly, trader EliZ affirmed that ETH’s macro 
perspective doesn’t show either real strength or weakness, but “an enormous, 
forced equilibrium” on the longer timeframes. He pointed out that ETH 
“continues to move within well-defined boxes, above and below the same levels 
for months/years, without ever building a directionality that can be described 
as structural.” Related Reading: Prediction Markets On BNB Chain Explode As 
Trading Volume Crosses $20B Based on this, the trader asserted that without a 
successful move and confirmation from its key range, short-term efforts don’t 
signal a “change of regime. Only liquidity rotation.” “We are not in a bullish 
phase, nor are we in a bearish phase. We are in a macro stalemate, where the 
market decides not to decide. Until we see a clean and sustained breakout of 
the indicated boxes …or a net loss of the same …any strong narrative is just 
storytelling,” he concluded. As of this writing, Ethereum is trading at 
$2,798, a 5.3% decline on the weekly timeframe. Featured Image from 
Unsplash.com, Chart from TradingView.com

Ethereum Drops Below $2,800 As Crypto Liquidations near $1B – Should Investors Worry?

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Strive completed a major bitcoin treasury financing, retiring legacy debt, 
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Cryptocurrency price in CLP