Bitcoin’s Surge Faces Doubts as Solana Weakens and Dogecoin Explores Long-Term Potential

Recent optimism surrounding Bitcoin has been fueled by its surge above $90,000, but the sustainability of this rally is being questioned. While trading at around $94,600, waning volume points to a possible loss of momentum. This decline follows Bitcoin’s recent jump from its April lows, however, buyer interest remains elusive. While technically robust with key moving averages above significant levels, a breakdown below the crucial $95,000 mark could signal an imminent reversal. 100-day and 200-day moving averages suggest structural strength, but short-term volatility indicates a potential return to $85,000-$86,000 if Bitcoin fails to hold above the critical $90,000 level. On the other hand, a sustained break above this mark with fresh volume could unlock a rally towards the elusive $100,000. However, such an outcome requires more than just optimism. Solana’s recent resurgence has lost momentum, with a current price of around $146 hovering near the crucial $140 support level. This weakness is further reinforced by the 26-day EMA at $139, which could be retested if Solana breaches the critical threshold. Exhaustion is evident in the chart as declining volatility and lack of volume indicate a waning demand for the asset. A significant break below this key level, followed by a potential dip towards the $131 level, where it found support during prior consolidations, is possible. Despite this, the overall market structure suggests Solana remains susceptible to correction if it fails to generate sustained volume and overcome resistance. Dogecoin’s long-term prospects remain more promising. While recent short-term rallies show signs of exhaustion, the asset continues to display a favorable one-week chart pattern with price staying above its 50-day moving average. Despite its recent decline, DOGE remains capped below the 200-day MA ($0.21) and lacks strong speculative momentum or any fundamental catalysts. The lack of trading volume suggests waning interest. With potential for a long-term growth trajectory, DOGE offers an intriguing outlook in comparison to other meme coins like SHIB, which has been exhibiting on-chain accumulation.