Crypto Crash? 😱 ETH, BNB, SOL on the Brink!

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Ah, the relentless dance of fortune! As shadows lengthen over the realm of stocks and crypto-assets, like a gloomy autumn sky threatening a downpour, our noble layer 1 cryptocurrencies find themselves teetering on the precipice of critical support. Will they hold, these bastions against the encroaching gloom? Or shall the crash, like an uninvited guest, persist in its unwelcome visit? We shall examine Ethereum (ETH), Binance Coin (BNB), and Solana (SOL) with the grave solemnity of a physician diagnosing a particularly stubborn ailment. 🧐

$ETH, alas, continues its downward spiral

The two-week chart for $ETH, viewed with a sigh and a shake of the head, reveals a rout continuing without respite. Sixty-five percent down from the last pivot high! One can almost hear the mournful strains of a balalaika in the background. The damage, alas, could worsen, depending on the capricious whims of the stock market on Monday. 🤦‍♂️

The $ETH price has decisively abandoned the $1,900 support, transforming it into a formidable resistance. The bears, those grim custodians of pessimism, are now battling to achieve the same with the $1,500 support. Below this, a glimmer of hope remains at $1,400, and then, the last major support at $1,000. Should the price descend to these depths, we would, without a doubt, find ourselves in the midst of a bear market, a veritable Siberian winter of finance. 🥶

A bounce, like a desperate plea, must happen, and it must happen now! Or else, darkness descends! 😵‍💫

$BNB, a beacon of hope still in an uptrend

The two-week chart for $BNB, unlike its $ETH counterpart, offers a semblance of cheer. The price remains firmly within an uptrend, like a stalwart peasant refusing to yield to the landlord’s demands. $BNB lingers within the confines of a triangle pattern, with solid support just below at $504. The stochastic RSI, for both the weekly and two-week charts, shows signs of bottoming, suggesting that an upswing in price momentum may be only two or three weeks away. A glimmer of sunshine amidst the gathering clouds! 😎

The all-time high was surpassed in June 2024, and then a new all-time high was forged in December 2024. The trend persists upwards, and unless the United States descends into a severe recession—a fate we hope to avoid—a higher low is, in all probability, assured. A cause for cautious optimism, perhaps? 🤔

$SOL plunges through major support, oh the drama!

The $SOL price, with a dramatic flair worthy of the Bolshoi Ballet, has plunged through the major horizontal support at $122. Given the strength of this support, its piercing has sent the price tumbling to the next bastion at $94. Below this, a last-ditch horizontal support awaits at $79. One can almost hear the violins crescendo! 🎻

Yet, the game is not yet over for the $SOL bulls, those optimistic souls determined to find roses in a snowdrift. The entire week remains for them to attempt a rally back above the $122 critical support. Success would conjure a potential pin-bar candle, an omen of bullish revival. But alas, it is too soon to celebrate. 😕

As is the case for $ETH and $BNB (and, incidentally, $BTC), the one-week and two-week Stochastic RSIs are at or near the bottom. When these indicators turn upwards, they are likely to signal significant upward price momentum. It is not all over yet! Though, perhaps, one should keep a bottle of vodka handy, just in case. 😅

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2025-04-07 15:15