In Brief
- Solana (SOL): Price fell to $92.69 and sellers stay in control below all major moving averages.
- Ethereum (ETH): Price is near $2,317 and needs a break above $2,350 to confirm any recovery.
- NEAR Protocol (NEAR): Price is around $4.02, below short-term averages, with support at $3.80.
- Zcash (ZEC): Price is near $1,288 and needs a confirmed breakout above $1,300.
Solana (SOL) Loses $100 as Sellers Take Control
Solana (SOL) has lost its grip on the psychologically important $100 level, and the selling pressure keeps building. After a strong September rally that pushed SOL above $120, the token has slid into a long correction, with sellers increasingly in control of daily trading.
On November 4, SOL was trading around $92.69, extending its drop from the October highs near $124.
On the daily timeframe, the picture keeps getting worse, with Solana trading below all of its major moving averages. SOL has also fallen below the longer-term moving average near $98, which acted as support during the September recovery.
The breakdown puts Solana in a weak spot, especially now that its shorter-term moving averages have started turning down.
The $98–$100 zone is now the closest resistance. A proper recovery above it could improve sentiment and let SOL test the $103–$108 area. As long as the price stays below these levels, the chart stays bearish.
Solana’s Relative Strength Index (RSI) has slipped toward the lower end of its recent range and is getting close to oversold territory. Selling pressure may run out at some point, but the indicator hasn’t shown a convincing bullish reversal yet.
Trading volume has also picked up during the latest drop, which makes the breakdown even more meaningful.
The closest support sits near $90, where buyers could try to stop the drop. A clear break below it could send Solana toward $85 and then the $80 region. Reclaiming $100, on the other hand, would be the first real step toward rebuilding bullish momentum.
Unfortunately for the bulls, Solana stays bearish for now, with sellers firmly in control after the break below multiple moving averages.
Ethereum (ETH) Tries to Bounce Near $2,317
Ethereum (ETH) is trying to find its feet after a correction that wiped out much of its September rally. It’s showing early signs of a bounce from recent lows, but the second-largest cryptocurrency still faces heavy resistance, so the short-term outlook is far from clear.
According to the November 4 daily ETH/USD chart, Ethereum was trading around $2,317, a modest bounce after a brief dip toward the $2,200 region. However, buyers haven’t taken back control yet.
The recent weakness started with a rejection from the 2,750–2,800 resistance area in early October. Since then, ETH has been making lower highs and lower lows, a clear sign of persistent selling pressure.
ETH is now trading below several important moving averages, including the shorter-term ones around 2,400–2,500.
The closest resistance is around $2,350, with more selling pressure possible near $2,400. ETH needs a proper breakout above these levels before anyone can say the decline is losing steam.
Ethereum is also hovering near its longer-term moving average around $2,300, which makes the current price zone key for the next move.
The Relative Strength Index (RSI) has dropped a lot from its October highs as bullish momentum faded. However, it’s starting to flatten near the lower part of its range, which suggests selling pressure could be easing. That may support a short-term bounce, but a flat RSI alone doesn’t confirm a trend reversal.
The closest support is around $2,250, followed by the psychologically important $2,200 level. A break below this zone could open the door to a deeper correction toward $2,100.
On the upside, reclaiming $2,350 would be a good first step, and a move above $2,400 could make the case for a recovery toward $2,500 much stronger.
NEAR Protocol (NEAR) Slides Below Key Averages
NEAR Protocol (NEAR) couldn’t hold on to its October rally, and sellers are back in charge. NEAR is back in correction mode, with the price dropping below several important technical indicators.
According to the November 4 daily chart, NEAR is trading around $4.02, well below its October peak near $6. NEAR has slipped below its shorter-term moving averages, a clear sign that bullish momentum is fading.
The $4.30–$4.60 zone is now the key resistance, where several moving averages collide. A recovery above it could open the way to a rebound toward $4.80 and possibly $5.
However, NEAR is still above its longer-term moving averages near $3.65 and $3, so the bigger recovery isn’t completely broken yet.
The Relative Strength Index (RSI) has dropped toward the lower half of its range as buying pressure eases. It’s getting close to oversold territory, but there’s no convincing bullish reversal signal yet.
Trading volume is also fairly low compared with September’s explosive rally.
The closest support is at $3.80, followed by stronger support around $3.65. A clear break below these levels could send NEAR further down toward $3.40. Reclaiming $4.30, on the other hand, would be an early sign that buyers are coming back.
While the longer-term trend still has some support underneath, NEAR’s short-term outlook stays bearish for now.
Zcash (ZEC) Tests $1,300 Resistance After Bounce
Zcash (ZEC) seems to be waking up again after bouncing off its recent consolidation lows. Even after a big correction from its October highs, the privacy coin is still trading above its major long-term moving averages.
According to the November 4 daily chart, ZEC is trading near $1,288 after bouncing from a recent dip toward the $1,150 region.
ZEC is now trying to reclaim the $1,300 resistance, which capped the price again and again throughout October. A breakout above it could open the door to $1,350, and then to the psychologically important $1,400 level.
However, sellers have kept showing up around these prices, so buyers will need stronger momentum for a proper recovery.
ZEC is still comfortably above its longer-term moving averages near $1,050 and $850, which keeps the bigger picture fairly healthy.
The Relative Strength Index (RSI) has climbed back toward the neutral 50 level after dropping during October’s correction. Selling pressure may be easing, but the indicator hasn’t confirmed a clear bullish shift yet.
Trading volume is also moderate, so the latest bounce hasn’t drawn the same crowd as September’s explosive rally.
For now, Zcash looks stronger than many altcoins on the chart, but it still needs a confirmed breakout above $1,300 before the bulls can celebrate.
