![Solana’s on-chain and technical metrics both suggest that the bulls are trapped [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Cryptocurrencies/Solana/solana_XtraLarge.jpg)
Solana price is heading south in free-fall fashion. Key levels have been defined to gauge the strength of the trend. Please, subscribe to our YouTube channel, follow us on Twitter @FXScrypto and join our Telegram channel.
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FXStreet Team
FXStreet
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Aave (AAVE) price is trading above $204 at the time of writing on Friday and approaching the upper boundary of its descending parallel channel; a breakout from this structure would favor the bulls.
Meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE), struggle to regain strength as the broader cryptocurrency market recovers. Derivatives data reveals fresh retail demand as Open Interest of DOGE, SHIB, and PEPE futures surge.
Terraform Labs founder Do Kwon was sentenced to 15 years in prison by a New York federal court on Thursday for his role in organizing one of the largest cryptocurrency frauds in history.
Bitcoin (BTC) and Ethereum (ETH) are nearing the key resistance levels at the time of writing on Friday, and a successful breakout could open the door for a fresh rally. Meanwhile, Ripple (XRP) is stabilizing around a crucial support zone, hinting at a potential rebound if buyers maintain control.
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Bitcoin (BTC) is steadying above $91,000 at the time of writing on Friday. Resistance at $94,150 capped recovery on Wednesday, but in the meantime, bulls have contained downside risks above $90,000.