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SOL dips below $200 as US-China trade tension escalates

SOL, the native coin of the Solana blockchain, has underperformed in recent days as the trade tension between the United States and China escalates. The coin has dropped below the $200 mark, with market volatility still in display.

SOL dips below $200 as US-China trade tension triggers risk-off sentiment

Solana’s SOL has lost 1% of its value in the last 24 hours and is now trading at $195 per coin. The performance comes as the trade disputes between the US and China triggered uncertainty and a risk-off sentiment in the cryptocurrency market.

The Chinese government announced that its levies are designed to safeguard the country’s shipping industry from “discriminatory” measures. It will also ensure that the levies are applied to US-owned, operated, built, or flagged vessels but not to Chinese-built ships.

This comes in retaliation for US fees on Chinese ships, with the U.S. government claiming that it is in support of American shipping companies. 

The Fed Chair is also expected to speak later today. Traders will focus on Powell’s speech to gain insights into the upcoming monetary policy meeting. However, it remains unclear whether the Fed will cut interest rates later this month, with no major economic data release in recent weeks thanks to the ongoing U.S. government shutdown.

SOL could dip lower amid a bearish market trend

The SOL/USD 4-hour chart is bearish and efficient as Solana has underperformed in recent weeks. The coin tanked by nearly 20% over the weekend, retesting $170 level for the first time in weeks. 

However, it rallied on Monday to hit the $213 mark but failed to build on the momentum. It has now declined below $200 and could dip lower in the near term. 

SOL/USD 4H Chart

If Solana continues its correction and dips below the daily support at $192.74, it could extend the decline towards the weekend low of $171. The RSI of 48 means that bears remain in control. The MACD lines also remain within the bearish region, suggesting a further downward trend in the near term. 

However, if the bulls regain control, SOL could retest the $213 high of Monday before rallying towards the $221 TLQ and resistance level at $221 over the next few hours or days.

The post SOL dips below $200 as US-China trade tension escalates appeared first on CoinJournal.

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BTC price forecast: Bitcoin stays below $112k ahead of Powell speech

TL;DR

  • BTC is down 3% in the last 24 hours and trading around $111,200 per coin.
  • The negative performance comes amid the ongoing U.S.-China tariff war and Powell’s speech later today.

BTC dips to $111k

Bitcoin, the leading cryptocurrency by market cap, is down 3% in the last 24 hours and is now trading around $111,200 per coin. The bearish performance comes amid rising US-China trade conflict, with traders expecting further volatility in the market.

In addition to that, the spot Bitcoin Exchange Traded Funds (ETFs) recorded an outflow of over $320 million on Monday, indicating that investors are taking a cautious approach to the market. 

Fed chair Jerome Powell is set to speak later today, with market participants focusing their attention on the event, which could spark fresh volatility across risk assets, such as Bitcoin.

Investors will be looking for fresh hints on the possibility of an interest rate cut later this month. However, with the ongoing US government shutdown limiting new economic data releases, Powell might offer little information on the upcoming FOMC meeting. 

Finally, on-chain data reveals that the wallet, referred to as BitcoinOG, which shorted BTC right before Friday’s dump last week, has increased its open short position earlier today. This latest development brings the total short position to over 4,394 BTC. 

Two other whales with significant profits on Hyperliquid have also opened large short positions in the market as they expect a further dump in the near term. 

BTC remains bearish as traders adopt a cautious approach

The BTC/USD 4-hour chart is bearish and inefficient as Bitcoin has underperformed over the last 24 hours. BTC slightly recovered on Monday, hitting the $115k mark following Friday’s sharp decline. 

However, it has failed to maintain the momentum and is now trading at $111,200 per coin. The Relative Strength Index (RSI) reads 42 on the 4H chart, which is below its neutral level of 50. The RSI indicates momentum is gaining traction. Furthermore, the Moving Average Convergence Divergence (MACD) showed a bearish crossover on Friday, remains bearish, suggesting further selling pressure. 

BTC/USD 4H Chart

If the BTC correction continues, the coin could dip lower towards the next major support level at $107,245. However, if the bulls regain control of the market, they could push the price towards the $115k resistance level once again.

The post BTC price forecast: Bitcoin stays below $112k ahead of Powell speech appeared first on CoinJournal.

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BNB faces pullback risk after 10% drop as charts signal overbought levels

  • BNB falls 10% as overbought signals suggest a short-term pullback toward the $1,000 level.
  • Technical charts show a bearish divergence, hinting at profit-taking and near-term weakness.
  • Analysts still see upside, with long-term targets up to $2,100 if bullish momentum resumes.

BNB (BNBUSD) has fallen 10% over the last 24 hours, reflecting a broader risk-off sentiment in the cryptocurrency market.

The Binance-linked token, which recently hit a record high of $1,300 on Monday, has since seen a 13% drawdown, prompting speculation about whether its latest rally has run out of steam.

BNB enters overbought territory

The recent surge in BNB’s price has pushed technical indicators into overbought zones, suggesting potential for a short-term correction.

The token has recorded multiple all-time highs since late July, driving its weekly relative strength index (RSI) to 81 last week before easing to 71 — still above the overbought threshold of 70.

Historically, such elevated RSI readings have preceded steep corrections.

In 2021, a similar pattern led to a 70% drop, while another overbought signal in July 2024 resulted in a 44% pullback.

Analysts now believe a retreat toward the psychological $1,000 level is increasingly likely if these patterns repeat.

The 20-week and 50-week simple moving averages (SMA), currently positioned between $730 and $860, could serve as key support zones in the event of a deeper decline.

These levels have previously helped cushion BNB’s price during market corrections.

Analyst Saint, in an X post, noted that BNB’s RSI “is currently in the overbought range across multiple periods,” suggesting “potential for price correction, which could lead to a consolidation or a pullback.”

Technical signals point to $1,000 target

Short-term charts further indicate potential downside.

A double-top formation visible on BNB’s four-hour chart projects a return to the pattern’s neckline at $1,000, implying a total decline of about 17% from current levels.

Adding to this bearish outlook, analysts have observed a growing divergence between BNB’s rising price and its falling RSI readings.

Between October 7 and Monday, the BNBUSD pair formed higher highs while the RSI posted lower highs — a classic bearish divergence.

Such divergences often hint at weakening bullish momentum and increased selling pressure as traders lock in profits.

If this trend persists, the $1,000 mark could become an important test of buyer strength in the coming days.

Long-term outlook remains bullish

Despite the latest setback, analysts remain broadly optimistic about BNB’s long-term prospects.

Data from Cointelegraph Markets Pro and TradingView show that the token maintains a bullish structure on higher time frames.

The monthly chart continues to display a bull flag formation that has been in place since October 2023, signaling potential for an extended rally toward $2,100 — representing a 73% upside from current prices.

Several market watchers, including analysts Henry and CoinCentral, have reiterated their bullish outlooks.

Henry wrote that “BNB is still looking strong after the crash,” adding that the token could “flip ETH soon if it goes at the same speed.”

CoinCentral pointed to Binance’s recent $283 million payout to affected users and strong network activity as supportive factors that could sustain the uptrend.

For now, traders are watching whether the $1,000 support level holds — a key test that may determine whether BNB’s correction deepens or the next leg higher begins.

The post BNB faces pullback risk after 10% drop as charts signal overbought levels appeared first on CoinJournal.