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Highlights
- This SOL, Fartcoin, and BNB price analysis looks at their technicals and identifies potential targets.
- BNB price has a neutral outlook with a bullish bias as it forms a triangle pattern.
- Fartcoin has formed a cup and handle pattern pointing to more upside.
This SOL, Fartcoin, and BNB price analysis assesses why these popular cryptocurrencies have crashed this year and the potential scenarios as the macroeconomic uncertainties continues. Solana price has already crashed from near $300 earlier this year to $100, while Binance Coin is down from $795 in December to $550 today. Fartcoin, a top Solana meme coin, has slumped by 80% from its all-time high.
SOL, Fartcoin, BNB Prices on Edge Amid Macroeconomic Woes
The ongoing trade war is the main driver for most assets this week as Wall Street analysts boost their recession odds. JPMorgan has boosted its recession probability to 60%, while Polymarket odds have jumped to 65%. These odds have jumped after the US implemented a 104% tariff on Chinese goods, while China retaliated with a 84% levy.
The only silver lining of this trade war is that the Federal Reserve may be forced to intervene by slashing interest rates and even delivering quantitative easing. Odds of this intervention have continued rising in prediction markets like Polymarket and Kalshi. A Fed put would likely lead to higher crypto market prices.
SOL Price Analysis: At Risk of Further Crash
The 3D chart shows that the Solana price has lost several important support levels. It moved below the key point at $120, where it struggled to drop several times since last year. The coin also slipped below $111.62, invalidating a small double-bottom pattern that was forming. And most recently, SOL price flipped the ascending trendline that connects the lowest swings since March 2024 into a resistance line.
Solana is about to form a death cross pattern, with the gap between the 200-day and 50-day weighted moving averages narrowing. It also slipped below the 61.8% Fibonacci Retracement level at $118.
Therefore, the most likely Solana price forecast is bearish, with the initial target being the psychological point at $80. This view will be canceled if it rises above the 50% retracement level at $152.
BNB Price Analysis: To Consolidate for Longer
The 1D chart shows that the BNB price has been in a tight range in the past few months. As a result, it has formed a symmetrical triangle pattern, whose two lines have some time to converge.
Binance Coin has also formed a triple-bottom pattern at $520, whose neckline $731, its highest level on February 13.
The crucial hope for BNB is that this consolidation is part of the formation of the cup and handle pattern, which has occurred on the weekly chart. Therefore, a combination of the triple-bottom and the C&H means that it will have a bullish breakout as this BNB price forecast noted. A drop below $520 will invalidate the bullish view.
FARTCOIN Price Analysis: Shows Signs of Bottoming
The FARTCOIN price is slowly showing signs of bottoming, making it one of the top promising Solana meme coin. It has formed a C&H pattern whose upper side is at $0.6290. The recent sideways movements have been part of the handle section. The coin has risen above the 50-period moving average.
Therefore, a move above the resistance at $0.6290 will point to more gains, with the target at $1.0540. This target is derived from first measuring the distance from the cup’s upper side and the lower side and the same one from the cup’s upper side.
Frequently Asked Questions (FAQs)
1. What's next for SOL, Fartcoin, and BNB price?
2. Why is Fartcoin price bullish?
3. Why is the SOL price outlook bearish?
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