Summary

  • Solana (SOL) drops below $100, with sellers still in control
  • Ethereum (ETH) attempts a rebound near $2,317.
  • NEAR Protocol (NEAR) breaks below key moving average
  • Zcash (ZEC) tests the $1,300 resistance level after a rebound.

Summary

  • Solana (SOL): Price has dropped to $92.69 and remains below all major moving averages, with sellers still in control.
  • Ethereum (ETH): Price near $2,317; a break above $2,350 is needed to confirm any rebound.
  • NEAR Protocol (NEAR): Price is approximately $4.02, trading below the short-term moving average, with support at $3.80.
  • Zcash (ZEC): Price near $1,288, requiring confirmation of a breakout above $1,300.

Solana (SOL) drops below $100 as sellers dominate.

Solana (SOL) has broken below the psychologically significant $100 level, with selling pressure continuing to intensify. After a strong rally in September that pushed SOL above $120, the token has entered a prolonged correction, with sellers increasingly gaining the upper hand in intraday trading.

As of November 4, SOL was trading at approximately $92.69, further declining from its October high near $124.

On the daily chart, the situation continues to deteriorate, with Solana trading below all major moving averages. SOL has also broken below the longer-term moving average near $98, which previously acted as support during the September rebound.

This breakout has placed Solana in a weak position, especially after its short-term moving averages began turning downward.

The $98 to $100 range has now become the recent resistance level. A sustained reclaim of this area could improve sentiment and allow SOL to test the $103 to $108 region. As long as price remains below these levels, the chart remains bearish.

Solana's Relative Strength Index (RSI) has slid toward the lower end of its recent range, nearing oversold territory. Selling pressure may exhaust itself at some point, but the indicator has not yet shown a convincing bullish reversal.

The recent support level is near $90, where buyers may attempt to halt the decline. A clear break below this level could see Solana drop to $85, followed by the $80 area. Conversely, reclaiming $100 would be the first step toward rebuilding bullish momentum.

Against bullish sentiment, Solana remains in a bearish posture after breaking below multiple moving averages, with sellers firmly in control.

Ethereum (ETH) attempts a rebound near $2,317.

Ethereum (ETH) is attempting to stabilize after a pullback that erased most of September's gains. It is showing early signs of rebounding from recent lows, but as the second-largest cryptocurrency by market cap, it still faces significant resistance, leaving its short-term outlook uncertain.

Based on the ETH/USD daily chart from November 4, Ethereum is trading around $2,317, slightly rebounding after a brief dip to the $2,200 area. However, buyers have not yet regained control.

The recent weakness began in early October when price was rejected at the resistance zone between $2,750 and $2,800. Since then, ETH has consistently made lower highs and lower lows, signaling sustained selling pressure.

ETH is currently trading below several key moving averages, including short-term averages near $2,400 to $2,500.

The recent resistance level is near $2,350; if price approaches $2,400, selling pressure may increase further. ETH needs to break through these levels convincingly to indicate that the downward momentum is weakening.

Ethereum is also hovering near the long-term moving average around $2,300, making the current price range a critical level for the next move.

The Relative Strength Index (RSI) has declined significantly from its October high due to weakening bullish momentum. However, the RSI has begun to flatten in the lower half of its range, suggesting that selling pressure may be easing. This could support a short-term rebound, but RSI flattening alone does not confirm a trend reversal.

The recent support level is near $2,250, followed by the psychologically significant $2,200 level. A break below this area could open the door to further downside movement toward $2,100.

On the upside, reclaiming $2,350 would be a positive first step, and a breakout above $2,400 would provide stronger support for a price rebound toward $2,500.

NEAR Protocol (NEAR) breaks below key moving average

NEAR Protocol (NEAR) failed to hold October's gains, and sellers have regained control. NEAR has re-entered a correction phase, with price falling below several key technical indicators.

According to the daily chart of November 4, NEAR is trading at approximately $4.02, significantly below its October high near $6. NEAR has broken below its short-term moving averages, clearly indicating that bullish momentum is weakening.

The $4.30 to $4.60 range has now become a key resistance level, where multiple moving averages converge. A reclamation of this area could open the door for a rebound toward $4.80, or even $5.00.

However, NEAR remains above longer-term moving averages near $3.65 and $3.00, so the larger-scale rebound has not been fully invalidated.

The Relative Strength Index (RSI) has declined into the lower half of its range, indicating weakening buying pressure. It is approaching the oversold region but has not yet shown a convincing bullish reversal signal.

Trading volume has also been significantly low compared to the surge in September.

The recent support level is at $3.80, with stronger support around $3.65. A clear break below these levels could push NEAR further down to $3.40. Conversely, reclaiming $4.30 would be an early signal of buying pressure returning.

Although there is still some support below the longer-term trend, NEAR’s short-term outlook remains bearish.

Zcash (ZEC) tests the $1,300 resistance level after a rebound

Zcash (ZEC) appears to be regaining momentum after rebounding from its recent consolidation low. Despite a significant pullback from its October high, this privacy coin remains trading above its key long-term moving averages.

Based on the daily chart of November 4, ZEC is currently trading at approximately $1,288 after recently declining toward the $1,150 area.

ZEC is currently attempting to reclaim the $1,300 resistance level, which has repeatedly constrained price gains throughout October. A breakout above this level could open the door for further upside toward $1,350 and eventually challenge the psychological $1,400 mark.

However, sellers have consistently appeared near these levels, so buyers need stronger momentum to achieve a genuine recovery.

ZEC remains firmly above the long-term moving averages near $1,050 and $850, suggesting the broader trend appears relatively healthy.

The Relative Strength Index (RSI) has rebounded to near the neutral level of 50 after declining during the October pullback. Selling pressure may be easing, but the indicator has not yet confirmed a clear bullish reversal.

Currently, Zcash's chart performance is stronger than many altcoins, but it still needs to confirm a breakout above $1,300 before bulls can celebrate.