Solana falls below $100, Ethereum struggles at $2,317 as sellers dominate

Solana, Ethereum, NEAR Protocol, and Zcash all faced significant price pressure as sellers drove several leading altcoins to fresh lows. Technical signals point to bearish trends dominating major charts, with pivotal resistance and support zones defining whether any recovery will develop.

Solana drops below $100, sellers retain control

Solana (SOL) has lost its footing at the psychologically important $100 mark, marking a reversal from its impressive rally in September, when the token climbed above $120. As of November 4, SOL traded at $92.69, extending its decline from October highs near $124 and confirming that sellers remain in charge of daily price action.

The daily chart shows Solana dipping below all major moving averages, including the longer-term level around $98 which had provided key support during earlier recoveries. The $98–$100 band now acts as immediate resistance. A sustained move above this zone could help SOL target resistance between $103 and $108. Until then, the trend points downward.

Shorter-term moving averages for SOL are also starting to turn lower, reinforcing the bearish pattern. The Relative Strength Index (RSI) for Solana is approaching the oversold threshold, although a convincing bullish reversal signal is not yet apparent. Trading volume has increased during the latest decline, intensifying the credibility of the breakdown.

Support sits near $90, where buyers may try to halt the drop. A clear fall below this level could trigger additional declines toward $85 and possibly $80. For bulls, reclaiming $100 remains essential for restoring any upward momentum in SOL.

Solana’s sellers have tightened their grip following the move below $100, leaving the altcoin in a distinctly bearish trend until key levels are reclaimed.

Ethereum battles resistance, recovery uncertain

Ethereum (ETH) is attempting to recover after a sharp correction erased most of its gains from September. ETH was recently trading at $2,317, bouncing from a dip near $2,200. However, persistent resistance is capping any significant move upward.

The drop in ETH gained momentum after repeated rejections from the $2,750–$2,800 zone in early October. The pattern of lower highs and lower lows has continued, reflecting heavy selling at each attempt to rally. Several important short-term moving averages, including those near $2,400–$2,500, remain above current price levels, underlining the hurdles for a bullish turnaround.

Immediate resistance stands at $2,350, with further pressure likely at $2,400. Ethereum hovers near a longer-term moving average around $2,300, making the current zone crucial for determining the next broader move. The RSI for ETH has sharply declined since October, with its recent flattening suggesting reduced selling momentum, though not yet enough for a confirmed reversal.

Support for ETH appears at $2,250, with a key psychological level at $2,200 below. If these supports fail, a larger correction toward $2,100 could develop. Any return above $2,350 would be the first step toward a more robust recovery.

Ethereum’s struggle at $2,317 underscores the importance of resistance zones at $2,350 and $2,400 as buyers attempt to turn sentiment and push for a rebound.

NEAR Protocol and Zcash diverge in momentum

NEAR Protocol (NEAR), a layer-1 blockchain focused on scalability, has lost significant momentum after its October rally. As of November 4, NEAR was trading at $4.02, below multiple major moving averages, and well off its October peak near $6. Key resistance for NEAR now sits in the $4.30–$4.60 range. Surpassing this band could pave the way for a recovery toward $4.80 or even $5, but the near-term outlook remains weak while the price stays below these levels. Support can be found at $3.80 and $3.65.

The RSI for NEAR has entered the lower half of its recent range, indicating diminished buying activity. Meanwhile, trading volumes are subdued compared with the surge seen earlier in the fall.

Zcash (ZEC), a privacy-focused cryptocurrency first launched in 2016, is currently trading around $1,288 after a brief fall toward the $1,150 area. ZEC is attempting to reclaim the $1,300 resistance, which stalled several rallies in October. An upside breakout could open further gains toward $1,350 and potentially the $1,400 level. Support for ZEC remains strong above $1,050 and $850, helping preserve the longer-term bullish picture.

The RSI for Zcash has rebounded toward more neutral territory but is yet to flash a strong bullish signal. Moderate trading volume reflects a cautious market mood. Despite pressure, Zcash appears to be holding up better than many peers, but will need to convincingly break $1,300 to reignite bullish interest.

Mini dictionary: NEAR Protocol is a decentralized, proof-of-stake blockchain designed for speed, scalability, and user-friendly development of decentralized applications. It uses a unique sharding approach to efficiently increase throughput and reduce transaction costs.