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Grayscale Warns Strategy Pressure May Fuel Bitcoin Market Volatility
Grayscale Head of Research Zach Pandl said pressure on Strategy’s leveraged Bitcoin accumulation model is adding volatility to the wider BTC market after the company disclosed the sale of 32 Bitcoin on June 1. The sale was small compared with Strategy’s overall holdings, but it changed market sentiment because the company has long been viewed as Bitcoin’s largest corporate buyer. Strategy holds more than 818,000 BTC and is often described as holding roughly 840,000 BTC, with the position valued near $55 billion at recent prices. Source: X The company’s Bitcoin cost basis is estimated to be around $61.8 billion to $63.8 billion, with an average purchase price of $75,500 to $75,700 per BTC. With Bitcoin trading near or below $62,000, Strategy is facing an unrealized loss estimated between $11 billion and $12 billion. Strategy’s 32 BTC Sale Draws Market Focus Grayscale said the sale of 32 BTC helped spark a fresh round of volatility because it raised questions about Strategy’s ability to keep buying Bitcoin at the same pace. The amount sold was minor, but the action stood out because Strategy had become known for long-term accumulation rather than selling. Peter Schiff also commented on the sale, arguing that Strategy’s years of buying more than 840,000 BTC helped push Bitcoin higher and that any shift in the company’s approach can affect market confidence. Schiff said Strategy is now the largest Bitcoin buyer and the largest Bitcoin loser, referring to its current paper loss. Strategy’s stock has also remained under pressure. Market commentary showed MSTR trading as a leveraged proxy for Bitcoin, with a beta near 1.77. The company has previously targeted ownership of 1 million BTC by the end of 2026, which would require the purchase of roughly 180,000 more BTC depending on the final reported balance. STRC Price Adds Pressure to Treasury Model The focus has shifted to Stretch, Strategy’s variable-rate perpetual preferred equity instrument, which trades under STRC. The product is designed to trade around $100 per share and currently pays an 11.5% dividend. STRC has recently traded below $100, meaning investors are demanding a higher return. If Strategy raises the dividend to support the preferred share price, its future cash-flow obligations would increase. Grayscale said that could make the company’s financing model more difficult and may increase the risk of additional Bitcoin sales. The concern is that higher dividend obligations could reduce Strategy’s ability to issue preferred equity efficiently and continue buying BTC. At current MSTR and STRC share prices, Grayscale said Strategy’s ability to accumulate more Bitcoin appears more limited than before. Critics have also raised concerns about a dividend burden that could exceed $1 billion annually if preferred stock obligations keep expanding. Supporters of the model argue that Strategy still has access to capital markets and that Bitcoin volatility is part of the company’s long-term strategy. Digital Asset Treasury Losses Broaden The pressure on Strategy comes as other digital asset treasury firms face large unrealized losses. Market data cited by traders showed Strategy down about $11.07 billion on BTC, Bitmine down about $9.58 billion on ETH, SharpLink down about $1.59 billion on ETH, Metaplanet down about $1.38 billion on BTC and Forward Industries down about $1.13 billion on SOL. Grayscale said the long-term health of Bitcoin may benefit from less BTC being concentrated on leveraged digital asset treasury balance sheets and more being held across diversified corporate balance sheets. The firm also said additional buyers may be needed before Bitcoin can form a sustainable bottom. Bitcoin has also faced pressure from weak ETF flows, lower liquidity and capital rotation into artificial intelligence stocks. Michael Saylor has said recent weakness reflects capital moving into AI infrastructure rather than a change in Bitcoin’s long-term outlook. Grayscale still expects Bitcoin to recover over the coming months, but it said BTC may lag other crypto market segments that benefit more directly from regulatory clarity in the near term.

2026-06-05 18:43
Stock Market Today: S&P 500, Nasdaq Fall as Strong Jobs Data Fuels Rate Hike Fears
Wall Street opened sharply lower on Friday after a surprisingly strong labor market report sparked concerns that interest rates could remain elevated for longer than investors had anticipated. The S&P 500 fell about 1%, while the tech-heavy Nasdaq Composite dropped roughly 1.6%. The Dow Jones Industrial Average declined around 150 points, or 0.3%, after posting a record close on Thursday. The market's reaction highlights how sensitive investors remain to economic data and its potential impact on monetary policy. Jobs Report Delivers Major Surprise The primary catalyst behind Friday's decline was the latest employment report from the Bureau of Labor Statistics. Nonfarm payrolls increased by 172,000 jobs in May, more than double economists' expectations for 80,000 new jobs. Meanwhile, the unemployment rate held steady at 4.3%, matching forecasts. The stronger-than-expected data reinforced the view that the US economy remains resilient despite elevated borrowing costs. However, investors quickly focused on a different implication. A stronger labor market could reduce pressure on the Federal Reserve to ease monetary policy and may even revive discussions about additional rate hikes if inflation remains stubbornly high. Treasury Yields Surge as Rate Hike Odds Increase Bond markets reacted immediately following the jobs data release. The benchmark 10-year Treasury yield climbed above 4.5%, while the 30-year Treasury yield rose past the 5% level. The two-year Treasury yield, which closely tracks expectations for Federal Reserve policy, also moved sharply higher. According to market pricing, traders significantly increased their expectations for another interest rate increase before year-end. Why does this matter for stocks? Higher yields make borrowing more expensive for businesses and consumers. They also provide investors with more attractive returns in fixed-income markets, potentially reducing the appeal of riskier assets such as equities. Growth-oriented sectors, particularly technology companies, tend to be most vulnerable when interest rates rise. Semiconductor Stocks Continue to Weigh on the Market Technology shares remained under pressure as the semiconductor sector extended losses from Thursday's selloff. Shares of Broadcom fell another 3% after plunging more than 12% in the previous session following disappointing results and weaker-than-expected AI-related guidance. The weakness spread across the industry. Marvell Technology dropped more than 8%, while Micron Technology lost approximately 6%. The recent pullback marks a notable shift after semiconductor companies led much of the market's advance over the past year. Some investors are beginning to question whether AI-related valuations have become stretched following an extraordinary rally. Market Broadening Remains a Key Theme Despite the weakness in technology, some strategists continue to view recent market action as a healthy rotation rather than a major warning sign. Instead of abandoning equities altogether, investors appear to be shifting capital toward financials, healthcare, industrials, and consumer-focused sectors. This broadening of market leadership could help support the broader bull market even if technology stocks experience a period of consolidation. Still, the near-term outlook may depend heavily on interest rates. The strong jobs report has changed the conversation on Wall Street from when the Federal Reserve might cut rates to whether policymakers may need to tighten policy again. With the S&P 500 on track for its first weekly decline in ten weeks and the Nasdaq heading toward a roughly 2% weekly loss, investors are preparing for potentially higher volatility as markets adjust to a stronger economy and a more uncertain interest-rate outlook.

2026-06-05 18:07
Crude Oil Prices: Brent, WTI Hold as Traders Watch US-Iran Negotiations
Crude oil prices steadied on Friday after posting their largest daily declines of the week. Brent crude futures held near $93 per barrel after falling 2.8% in the previous session, while WTI crude futures traded around $91 per barrel following a 3.1% decline. The stabilization comes as investors attempt to balance two competing forces. On one side are hopes that diplomatic progress between Washington and Tehran could reduce geopolitical risks. On the other are ongoing military tensions and uncertainty surrounding a fragile ceasefire effort in Lebanon. Despite the recent pullback, Brent remains more than 4% higher for the week, highlighting how geopolitical concerns continue to influence energy markets. Trump Signals Optimism on Iran Negotiations A major factor supporting sentiment was renewed optimism from President Donald Trump. Trump stated that negotiations with Iran were progressing well and suggested that an agreement could lead to a relatively quick reopening of the Strait of Hormuz. According to the president, progress depends on Tehran accepting a memorandum of understanding aimed at halting hostilities. Why does this matter so much for oil prices? The Strait of Hormuz remains one of the world's most important energy chokepoints, carrying roughly one-fifth of global oil exports. Any indication that shipping routes could normalize tends to reduce the risk premium embedded in crude prices. However, investors remain cautious because concrete progress has yet to emerge. Lebanon Ceasefire Faces Growing Challenges The path toward regional stability remains complicated by events in Lebanon. Lebanese President Joseph Aoun publicly criticized Iran, accusing Tehran of using Lebanon as leverage in its broader confrontation with the United States and Israel. At the same time, Israeli strikes targeting what officials described as Hezbollah positions reportedly killed several people despite an extension of a US-mediated truce effort. The situation became even more uncertain after Hezbollah rejected the ceasefire proposal supported by Washington and the Lebanese government. The group's opposition raises doubts about whether any lasting reduction in hostilities can be achieved in the near term. US and Iran Continue Trading Conflicting Messages Further complicating matters, Washington and Tehran continue to offer sharply different accounts of the negotiation process. While Trump has maintained an optimistic tone and expressed openness to meeting Iran's supreme leadership, Iranian officials insist that little meaningful progress has been made. Iranian Foreign Minister Abbas Araghchi recently stated that there had been no significant advances in discussions with the United States. Those conflicting narratives have left traders struggling to determine whether a diplomatic breakthrough is genuinely approaching or whether negotiations remain largely stalled. Supply Risks Still Support the Oil Market Even as peace talks continue, supply concerns have not disappeared. Operations at Oman's Mina Al Fahal export terminal experienced temporary disruptions following an explosion before activity resumed later in the day. While the interruption was short-lived, the incident served as another reminder of the region's vulnerability. Meanwhile, tensions persisted in the Gulf of Oman after Iran claimed its navy had confronted US warships. The US military denied those allegations and said American naval operations continue uninterrupted while enforcing measures against Iranian shipping activity. For now, oil markets remain caught between optimism and uncertainty. Investors are increasingly hopeful that diplomacy could reduce tensions and eventually reopen critical shipping routes. Yet ongoing military operations, disagreements over ceasefire terms, and conflicting statements from key parties suggest that volatility is likely to remain a defining feature of the crude oil market in the weeks ahead.

2026-06-05 18:03
Michael Saylor Bet on BTC, Tom Lee Bet on ETH: Now Both in Over $20B Paper Loss
Michael Saylor and Tom Lee are facing renewed scrutiny as the companies tied to their crypto treasury strategies sit on large unrealized losses after sharp declines in Bitcoin and Ethereum. Strategy Inc., formerly MicroStrategy, now carries an estimated paper loss of about $11.2 billion to $11.3 billion on its Bitcoin holdings, while Bitmine Immersion Technologies faces an estimated $8.9 billion to $9.38 billion unrealized loss on its Ethereum treasury. The losses are not personally realized losses for Saylor or Lee, but they are closely linked to their public investment strategies. Saylor has led Strategy’s long-running Bitcoin accumulation plan, while Lee chairs Bitmine, which has shifted into an Ethereum-focused treasury model. Strategy holds 843,706 BTC at an average acquisition price of $75,699 per coin. Its total Bitcoin cost basis is about $63.8 billion to $63.9 billion. With Bitcoin trading below $63,000, the value of the company’s reserve has fallen to around $52.6 billion. Strategy’s Bitcoin Bet Moves Into Paper Loss Strategy’s Bitcoin position has turned negative by about 17% after six years of accumulation. The downturn has added pressure to MSTR stock, which recently traded near $124.70 in pre-market activity and around $128.98 during the previous session. The stock is down about 77% from its record high. Source: X The company recently sold 32 BTC for about $2.5 million at an average price of $77,135 per coin. That sale drew attention because Strategy had long been associated with a buy-and-hold Bitcoin strategy. Since that sale, the value of its Bitcoin position has dropped by more than $11 billion as BTC continued falling. Saylor has pushed back against claims that the Bitcoin strategy is impaired. He said capital markets have directed about $400 billion into artificial intelligence infrastructure over six months, while Bitcoin ETFs have seen about $4 billion in outflows since May 14. In his view, the current weakness reflects capital rotation rather than a failure of Bitcoin’s long-term thesis. Tom Lee’s Bitmine Faces Ethereum Drawdown Bitmine Immersion Technologies has also come under pressure as Ethereum fell below $1,800. The company holds more than 5.4 million ETH, equal to about 4.5% of Ethereum’s circulating supply. Its position is worth close to $10 billion at current prices, compared with an estimated investment value near $18.8 billion. Bitmine’s unrealized Ethereum loss is estimated between $8.9 billion and $9.38 billion. The company accumulated much of its ETH at an average cost near $3,500 per token, leaving the treasury deep in paper-loss territory after the latest decline. Source: X BMNR shares fell below $17 and have dropped about 28% since early May. The stock is now trading at its weakest level since the company announced its Ethereum treasury pivot in 2025. Bitmine has tried to offset part of the pressure through staking. The company has staked about 4.7 million ETH, roughly 87% of its holdings, through its MAVAN network. That setup is estimated to generate about $276 million to $300 million in annualized staking revenue. Crypto Treasury Models Face Bear Market Test The weakness at Strategy and Bitmine shows how digital asset treasury companies remain exposed to crypto price cycles. Strategy’s model depends heavily on Bitcoin appreciation and capital-market access, while Bitmine’s model depends on Ethereum price stability, staking income, and investor demand for ETH-linked equity exposure. Strategy’s preferred stock product, STRC, has also come under pressure. It recently traded near $94.60 to $94.85, below its intended $100 level, with yields above 12% in market commentary. Critics argue that weak preferred pricing could raise future funding costs, while supporters say Strategy still has several tools to manage its capital structure. Bitmine has filed to raise $300 million through 3 million shares of 9.5% Series A perpetual preferred stock under the ticker BMNP. The company said proceeds may be used to buy more ETH, expand staking infrastructure, fund working capital and repurchase common stock. Other Ethereum treasury firms have also faced losses. FG Nexus reportedly bought about 50,600 ETH at an average price near $3,940 and later recorded heavy losses after selling more than 38,000 ETH. Its reported loss figure reached $888.3 million, with a Q1 2026 net loss of $38.6 million. The losses at Strategy, BitMine, and FG Nexus are part of a wider market reset. More than half of the Bitcoin supply is already sitting near or below cost basis, while other on-chain data placed supply in profit near 55%, close to the level where bear-market stress has historically increased. Realized losses have also risen, with Glassnode data showing aggregated realized losses reaching $1.3 billion per day as Bitcoin moved back toward $62,000. Long-term holders accounted for about $770 million, or 59%, of those realized losses, showing that some cycle-top buyers who held through the decline are now exiting at a loss. Source: X The pressure is affecting investor sentiment toward digital asset treasury firms. These companies were built around the idea that public-market capital could be converted into scarce crypto assets and held over long periods. That model benefits when token prices rise, but it can face tighter conditions when the underlying assets fall below average purchase prices.

2026-06-05 16:17
XRP’s Pullback May Be the Calm Before a Long-Term $17.50 Breakout — RSI Flashes Rare Oversold Signal
XRP Eyes Major Rebound as Unique Oversold Signal and Long-Term Breakout Support Align XRP’s current pullback is attracting attention from technical analysts who view it less as a breakdown and more as a retest of a larger multi-year breakout structure. Financial chartist Celal Kucuker notes that despite short-term weakness, XRP’s broader trend remains intact. In his analysis, the current move is revisiting a former resistance zone that has now flipped into potential support, a classic confirmation retest usually seen after major breakouts, where price revisits prior resistance to validate it as a new base. Notably, support is clustered between $1.20 and $1.30, a zone that effectively determines whether the bullish structure survives. Holding above this level keeps the macro breakout narrative in play, while a sustained breakdown would signal a deeper corrective phase and weaken the trend. On the upside, Kucuker identifies $3.87 as an intermediate target tied to the prior breakout projection, while longer-term cycle models extend toward roughly $17.50, derived from broader Fibonacci extensions and historical market cycles rather than short-term price movement. Market data from CoinCodex shows XRP presently trading at $1.12 , placing it directly inside this key support region after a weekly decline of about 15%. At this level, price action typically transitions into either stabilization or continuation of the downtrend, making this zone structurally significant. What’s Brewing Beneath XRP’s RSI Surface? Looking at the other side of the technical coin, analyst Evan Clegg highlights an uncommon weekly signal : XRP’s Relative Strength Index (RSI) has fallen below 30, a level traditionally associated with oversold conditions. What makes this even more intriguing is its rarity on higher timeframes, historically, XRP has only reached similar weekly extremes once before, which aligned with a major macro bottom. Clegg interprets this as evidence of fading downside momentum rather than sustained selling pressure. He suggests XRP may be in a late-stage corrective phase, consistent with Elliott Wave Theory’s Wave 4 structure, which often precedes a final impulsive move higher. Within this framework, a Fibonacci-based extension toward $4.47 is viewed as a potential Wave 5 target, aligning with prior cycle behavior where deeply oversold conditions preceded strong recoveries. Overall, XRP’s setup remains conditional rather than confirmed. The top altcoin is sitting at a historically important support zone, with rare momentum signals hinting at potential exhaustion in selling pressure. However, the broader bullish case ultimately hinges on whether the $1.20–$1.30 region can continue to hold in the sessions ahead.

2026-06-05 16:09
Solana Price: Forward Industries Moves 455,000 SOL As Unrealized Losses Near $1.13B
Solana is trading near $68.82, down about 3.09% over 24 hours, as market attention turned to a large SOL transfer by Forward Industries, the largest known corporate Solana treasury company. On-chain data showed the firm deposited 455,784 SOL, valued at about $31.87 million, into Coinbase Prime after roughly one month of wallet inactivity. The transfer came during a weak period for SOL, which has been trading far below Forward Industries’ average purchase price. Since launching its Solana treasury strategy in September 2025, Forward Industries has spent about $1.59 billion to buy 6.83 million SOL at an average price of $232.08. Source: X At current market levels, the company’s Solana holdings are worth about $458.6 million, leaving an unrealized loss of nearly $1.13 billion. The transfer revived market debate over whether the company may be preparing to reduce exposure, although Forward Industries has not confirmed any sale. Forward Industries Transfer Draws Market Attention Exchange deposits are often monitored because they can precede selling, collateral movement, custody changes, or internal treasury restructuring. In this case, the size of the transfer made the movement notable because Forward Industries is already sitting on a large paper loss. The company’s reported SOL position has been under pressure as Solana dropped from the levels where Forward built its treasury. Market data also showed SOL recently trading near $66, down almost 19% over the past week during the broader crypto market correction. However, some market observers disputed claims that the transfer represented a confirmed sale. SolanaFloor noted that Forward previously moved a larger 1.88 million SOL tranche to Coinbase Prime in November, but later filings showed its SOL holdings were unchanged. That earlier movement suggested the transfer may have been custody-related rather than a sale. Forward also reported a $283.1 million net loss for the quarter ended March 31, 2026, driven by fair value declines on its SOL holdings. The company said that loss did not represent a cash outflow or affect liquidity. Corporate Crypto Treasuries Face Pressure Forward Industries’ transfer comes as several corporate digital asset treasury strategies face renewed scrutiny. Bitcoin treasury firms and Ethereum treasury firms have also seen large unrealized losses as crypto prices declined from earlier highs. MicroStrategy, now Strategy, recently sold 32 BTC after years of emphasizing accumulation. France-based Sequans Communications also said it was ending its Bitcoin treasury strategy and would monetize remaining holdings over time while refocusing on its semiconductor business. The pressure on Forward is different because its exposure is concentrated in Solana. The company’s average entry price of $232.08 is far above current SOL levels, making the treasury position highly sensitive to any additional decline. The latest Coinbase Prime deposit does not prove that Forward is exiting its Solana strategy. Still, the market response shows that large treasury wallet movements are being closely watched while crypto assets trade near key support areas. SOL Technical Chart Shows Weak Weekly Structure Solana’s weekly chart remains bearish after the token dropped back toward the $66 to $70 support area. This zone aligns with the latest wick low and the horizontal support shown on the chart. SOL is trading below major weekly moving averages, showing that sellers remain in control. The long-term moving average sits near $105 to $110, while other higher moving averages are clustered around $135 to $150. As long as SOL remains below those areas , the broader weekly structure remains weak. Immediate support is near $66 to $67. A weekly close below that zone could open the way toward $53, then $43, with a deeper downside area near $35 if selling pressure increases. The volume profile shows lighter traded volume between current prices and lower zones, which can allow faster price movement if support breaks. Source: X On the upside, SOL needs to reclaim $85 to $90 to show early recovery strength. A stronger recovery would require a move back above $105 to $112, where the long-term moving average and prior breakdown area sit. The next major resistance remains near $135 to $150, where the chart shows a large volume area and moving average resistance. That area would likely require stronger market-wide demand to break. The RSI remains weak and near the lower range, showing bearish momentum. A relief bounce is possible because conditions are close to oversold, but a trend change would require stronger buying and a move back above key resistance levels.

2026-06-05 16:02
Forward Industries Moves $32M in Solana as Losses Top $1.1B
The company is still the largest publicly listed holder of Solana with more than 7 million SOL, and it accumulated roughly 6.83 million SOL at an average price of $232.08 per token. With Solana trading near $64.63, the firm's holdings are currently valued far below their purchase price, resulting in an estimated unrealized loss of around $1.15 billion. Forward Industries Sparks Selloff Fears Forward Industries turned some heads after transferring approximately $31.9 million worth of Solana (SOL) to Coinbase Prime, according to on-chain data from Arkham Intelligence . The transaction involved 455,784 SOL and was the company's first recorded blockchain activity in nearly a month. The transfer attracted attention because Coinbase Prime is commonly used by institutional investors for trading, custody, and liquidity management. While the movement of funds does not necessarily indicate that Forward Industries intends to sell its holdings, deposits to institutional trading platforms are often seen as a potential signal that a company is preparing to reduce exposure or rebalance its portfolio. Forward Industries adopted a Solana-focused treasury strategy in September of 2025 and quickly became one of the largest corporate holders of the cryptocurrency. According to a shareholder update that was released in December, the company accumulated approximately 6.83 million SOL at a total cost of about $1.59 billion, paying an average price of $232.08 per token. However, the prolonged downturn in the cryptocurrency market has impacted the value of that investment. Solana declined by 70% since the company began building its position, with the token trading near $66.35 at press time. Based on current market prices, the original holdings would now be worth approximately $441 million, leaving the company with an estimated unrealized loss of around $1.15 billion. SOL’s price action over the past year (Source: CoinCodex) The transfer comes at a time when publicly traded companies that embraced cryptocurrency treasury strategies are facing more scrutiny from investors. Many firms that accumulated digital assets during stronger market conditions are now dealing with huge paper losses, raising questions about balance sheet risk and long-term treasury management strategies. Despite the recent transfer, Forward Industries is still the largest publicly listed holder of Solana, with more than 7 million SOL reportedly under its control. Whether the movement of tokens is a strategic portfolio adjustment, liquidity management, or the beginning of a larger sell-off remains unclear.

2026-06-05 16:00
Dogecoin Price Prediction: DOGE Holds Last Support
Dogecoin is sitting at a decisive support zone after hitting Ali Charts’ $0.0883 target. While the daily chart shows breakdown risk, the weekly chart still points to a possible recovery if DOGE holds the $0.087-$0.090 area. Dogecoin Price Tests Critical Support as $0.0883 Target Gets Hit Dogecoin (DOGE) has reached the $0.0883 downside target identified by analyst Ali Charts. The move came after DOGE lost support around $0.1019 and extended its decline toward the lower boundary of a descending channel shown on the daily chart. Dogecoin Daily Chart (DOGE/USD). Source: Ali Charts on X The chart shows DOGE trading near $0.0891, directly above a major support zone at $0.0883. This level previously acted as support and now represents the most important area for bulls to defend. At the same time, the price remains below the 50-day simple moving average (SMA), which suggests bearish momentum still dominates the short-term trend. According to the analysis, a successful defense of the $0.0883 support level could trigger a relief rally. In that scenario, DOGE may first retest resistance near $0.1019, which aligns with the 50-day SMA and a previous support level that recently turned into resistance. A stronger recovery could then open the path toward $0.1156, the upper resistance level highlighted on the chart. However, the support zone remains under pressure. A daily close below $0.0883 would signal a breakdown from the channel structure and could increase selling pressure. Ali Charts noted that such a move may expose the next major demand and supply interaction area near $0.067. For now, the $0.0883 level remains the key support to watch. Holding above it would keep the possibility of a rebound toward $0.1019 and $0.1156 intact, while a breakdown could shift focus toward the lower $0.067 region. Dogecoin Weekly Chart Signals Potential $1 Move After Channel Breakout Dogecoin (DOGE) is showing signs of a major trend reversal on the weekly timeframe after breaking above a long-term descending channel, according to analyst Celal Kucuker. The chart highlights a completed channel breakout near the $0.087-$0.090 support region, while the MACD indicator is beginning to turn higher from a prolonged bearish phase. Dogecoin Weekly Chart (DOGE/USDC). Source: Celal Kucuker on X The analysis points to a rounded bottom formation that developed over several months. DOGE recently rebounded from support near $0.08779 and is attempting to establish a higher low following the breakout. At the same time, the weekly MACD histogram is weakening on the downside, while the signal lines appear close to a bullish crossover, a setup often associated with improving momentum. The first major resistance zone sits around $0.27855, which marks the upper boundary of the highlighted accumulation range. According to the projection shown on the chart, a successful move above that level could open the door for a much larger advance toward the psychological $1.00 mark. However, the bullish scenario depends on DOGE holding above the breakout area around $0.087-$0.090. A sustained move back below that support zone would weaken the breakout structure and delay the projected upside path. At the time of the analysis, DOGE was trading near $0.098, meaning the chart's $1 target would represent a gain of more than 900% from current levels if the projected move fully develops.

2026-06-05 15:10
Solana Price Prediction: SOL Risks Drop to $62
Solana is under fresh pressure after losing channel support and testing a key intraday floor near $67.48. Analysts now point to the $62-$43 zone as the next major area if selling continues. Solana Breaks Channel Support as Analysts Target $62-$43 Zone Solana (SOL) has moved lower after breaking beneath a previously monitored rising channel, according to analysts at More Crypto Online. The breakdown adds to the bearish outlook and suggests the correction from recent highs may not be finished. Solana 4-Day Chart (SOL/USD). Source: More Crypto Online on X The chart shows SOL falling below channel support after a recovery attempt that analysts classify as corrective rather than impulsive. Under the preferred Elliott Wave count, the rally from the February low is considered a B-wave bounce within a broader bearish structure, with the market now entering the next leg lower. According to the analysis, the primary support zone lies between $62 and $43. The chart highlights Fibonacci retracement levels near $62.43 and $43.22, which could act as areas where buyers attempt to establish a more durable low. A move into that region would also align with the projected third-wave decline shown in the bearish scenario. The chart includes an alternative bullish count that allows the current decline to become the final leg of a larger correction before a stronger recovery develops. However, More Crypto Online notes that this scenario remains secondary for now. Even if SOL rebounds from the $62-$43 area, a corrective recovery would still favor another decline afterward. From a technical perspective, the loss of channel support remains the key development. As long as SOL stays below the broken trendline, the broader structure continues to favor downside pressure and additional weakness toward the highlighted support region. Solana Tests Critical Intraday Support as Selling Pressure Builds Solana (SOL) is trading near a key short-term support level after a steady decline throughout the session. The chart shared by EllioTrades shows SOL repeatedly testing the $67.48 area, a level that has so far prevented a deeper breakdown. Solana 15-Minute Chart (SOL/USD). Source: EllioTrades on X The 15-minute chart highlights a clear sequence of lower highs and lower lows, reflecting persistent bearish momentum. Multiple recovery attempts failed to reclaim previous swing highs, while sellers continued pushing price back toward support. The $67.48 zone remains the most important level on the chart. SOL briefly bounced from this area several times, but each rebound became weaker than the previous one. This type of price action often signals that buyers are losing strength as support faces repeated tests. If SOL loses the $67.48 floor, selling pressure could accelerate and trigger a sharper downside move. Conversely, a strong defense of this level would be needed to stabilize the short-term structure and slow the ongoing decline. For now, the trend remains bearish, with price consolidating directly above support after an extended intraday selloff.

2026-06-05 15:05

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