Crypto Market Struggles to Recover as Bitcoin, Solana Face Bearish Trends

The cryptocurrency market is still struggling to recover from its recent downturn. Bitcoin (BTC) has been in a medium-term downtrend since breaking down from the $75,000-$78,000 range and plummeting towards the $60,000 area.

Despite some recovery efforts, the price remains below all major moving averages, including the 20-day, 50-day, 100-day, and 200-day moving averages. This bearish market structure suggests that sellers may still be in control.

However, there are signs of increasing momentum with the RSI (Relative Strength Index) approaching the neutral 50 level. If buyers can recover and maintain their position above $67,000, it could indicate a stronger trend reversal.

Solana (SOL) is also struggling to regain its footing, having broken down from the upper-$80s into the low-$60s after months of lower highs and lower lows. The price remains below all major moving averages, with the 20-day EMA serving as immediate resistance.