Crypto Market Remains Bearish Despite Some Signs of Life in SOL

The cryptocurrency market is still in a bearish structure, and several major assets are struggling to recover. XRP, for example, broke below its consolidation range of $1.30 to $1.50 and accelerated downward toward the psychologically significant $1.00 support level. The 50-day, 100-day, and 200-day moving averages of XRP are all above its current price, indicating that sellers still have control.

The RSI for XRP is getting close to oversold territory at 32, but a bearish continuation pattern has been validated by the breakdown. If buyers can hold the area around $1.14-$1.15, XRP might experience a relief rally toward the 50-day EMA. However, until it regains significant moving averages, the trend remains negative.

Shiba Inu (SHIB) is also displaying a similar structure to XRP, having broken out of a rising wedge formation that frequently precedes bearish continuation moves. SHIB has not established a significant recovery since the breakdown and is still trading close to local lows. The 50-day EMA is preventing buyers from creating long-term momentum by acting as dynamic resistance.

Bitcoin (BTC) is also under pressure, having broken away from an ascending trendline that had sustained its recovery rally from April to May. The medium-term bullish structure was effectively terminated, and a return to bearish control was confirmed. The 50-day, 100-day, and 200-day moving averages of Bitcoin are all significantly above the current price on the chart.

Solana (SOL), however, is showing remarkable resilience in contrast to Bitcoin. Buyers intervened forcefully near the $63-$65 support range, keeping the asset above regional lows. Technically, SOL is still below its major moving averages, indicating that the long-term trend is still negative.