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CATEGORY: descending channel


Mar 14, 2025 12:05

Solana Price Crash To $90? Why A 26% Decline Could Rock This Crypto

The Solana price is seemingly on the verge of another major crash, as an analyst forecasts a correction to $90. Given the cryptocurrencys recent slow momentum due to the ongoing market letdown, an additional 26% decline to new lows could significantly impact the future outlook of Solana. Analyst Forecast Massive SOL Price Crash CoinMarketCaps data shows that the Solana price has given up most of its yearly gains following its massive 50% price crash earlier last month. Despite this bearish performance, TradingView crypto analyst MadWhale highlights that the pain isnt over yet, projecting an even deeper price decline for the popular altcoin.  Related Reading: Solana Price On The Verge Of 2022-Like Crash To Send It Back To $22? The analyst believes that a 26% drop to $90 may be on the horizon if Solana fails to find proper support. Sharing a detailed price that supports his bearish prediction, MadWhale suggested that the Solana price is currently in a Descending Channel, indicating a sustained downtrend.  The chart shows that the altcoins price movement is making lower highs and lower lows, confirming its already bearish structure. Moreover, Solana is presently struggling to break above the key resistance area indicated by a straight red line above the $130 threshold.  The curved red arrow in the chart highlights the trajectory to which Solana is expected to move if it fails to surpass resistance levels. The $90 level is also marked as the main monthly support for the altcoin, where a potential bounce back or accumulation is set to arise. If Solana can retest this support level, MadWhale believes it could recover enough to sustain a lengthy upward trend.  While Solanas overall price position and market trend are in the red, the TradingView analyst acknowledges that temporary bullish movements could happen. However, these minor fluctuations would be short-lived, as they are part of the broader downtrend.  Notably, MadWhale has marked the $100 mark as a psychological resistance level for the Solana price, where a decline toward this threshold could influence its market sentiment.  Solana Market Sentiment Switches To Fear Solanas market sentiment recently hit 1-year lows, but on-chain data shows an even more volatile trend. The altcoins Fear and Greed index at 34 indicates that it may be approaching extreme fear zones. This suggests a potential period of panic-driven sell-offs by investors.  Related Reading: Solana Forms Ascending Triangle For Possible Breakout, Analyst Sets $565 Target CoinCodexs data also highlights that Solana’s overall market trend is significantly bearish. Over the last 30 days, Solana has recorded more red days than green, signaling a prolonged downtrend. As a result of its bearish price action, CoinCodex indicates that now may be a bad time to buy the altcoin.  Commenting on Solanas current market sentiment, crypto analyst Market Prophit notes that the crowd remains bearish on the cryptocurrency. However, smart money stays bullish, fueling hopes of a possible price reversal in the altcoin. Featured image from Adobe Stock, chart from Tradingview.com

Feb 25, 2025 12:05

Bitcoin Price Consolidates In Tight Zone: Why A Crash To $84,000 Is Likely

Analysts are currently leaning towards a further breakdown in the Bitcoin price, as market volatility has positioned the pioneer cryptocurrency in a tight consolidation zone. Crypto expert Hamed_AZ on TradingView has shared a bullish and bearish outlook for the Bitcoin price. However, the analyst highlights that a crash of $85,000 is more likely.  According to Hames_AZ, the Bitcoin price is set to decline further, possibly reaching new lows at $85,000. The analyst revealed that the cryptocurrency continues to trade sideways, failing to break out of its present consolidation zone. Bitcoin Price Set To Crash To $85,000 Earlier this month, the Bitcoin price crashed to new levels below $100,000, failing to break key resistance areas in its attempt to reach new all-time highs. At the time, the sharp decline was likely due to broader market volatility and a shift in sentiment. However, the cryptocurrency has failed to recover its position above $100,000, driven by downward pressure from recent tariffs implemented by the United States on other countries. Related Reading: This Analyst Correctly Predicted The Bitcoin Price Crash To $99,000, Heres Whats Supposed To Happen Next Hames_AZ asserts that the market will remain in a downtrend, with no hint of an upward movement, if Bitcoin continues to trade below key resistance levels. Sharing two possible scenarios for the cryptocurrencys future trajectory, the analyst leaned towards a more corrective outlook, projecting that Bitcoin could retrace back to the support zone before initiating another upward move. As indicated in the green area in his price chart, the analyst pinpointed Bitcoins support zone between $85,000 and $87,500. While Bitcoin is historically known for not staying in a downtrend for too long, the TradingView analyst still expects further breakdown in its price, highlighting that a decline at this time is a more probable scenario.  In the chart, the analyst also illustrates a descending channel pattern, where the price of Bitcoin is clearly moving within a downward-sloping channel, indicating a short-term downtrend. The Fibonacci level at 0.382 further aligns with the support zone, making it a strong potential area for a price reversal.  Based on the analysts projection, a bounce from this support would invalidate further bearish momentum. Additionally, the support zone serves as a critical demand area where buyers typically step in, reinforcing price stability.    Possible Bullish Scenario If Key Resistance Levels Are Breached  While sharing a bearish prediction of the Bitcoin Price to $85,000, Hames_AZ also presented an alternative bullish scenario that could propel the cryptocurrency to new all-time highs. The TradingView analyst believes that if Bitcoin can successfully break resistance levels between $97,000 and $102,500 and close above them, then the market should anticipate a continuation of its previous uptrend.  Related Reading: This Analyst Called The Bitcoin Price Crash Early, Total Prediction Says More Pain Is Coming A confirmed breakout from this resistance area would signal stronger market dynamics and further growth for the Bitcoin price. Based on his analysis, he expects Bitcoin to rise as high as $120,000, surpassing previous all-time highs attained earlier this year. Featured image from iStock, chart from Tradingview.com

Feb 14, 2025 12:05

Bitcoin Flag Pole Pattern Puts Price At $120,000, Analyst Explains The Roadmap

The crypto market has been experiencing significant volatility, with the Bitcoin price leading the charge. Over the past month, BTC has been trading sideways, recording declines that have pushed its value below the $100,000 mark. As analysts speculate about the cryptocurrencys next major move, recent data suggests that a classic Flag Pole pattern is beginning to emerge on the Bitcoin price chart. The crypto analyst who has identified this pattern has shared a bullish roadmap prediction for Bitcoin, projecting that it could rise to a new all-time high above $120,000. In a TradingView analysis, crypto expert Weslad expressed optimism about Bitcoins future trajectory, projecting that it could soar as high as $120,843 in this bull cycle. The analyst highlighted the current formation of a classic Flag Pole pattern on the BTC price chart. The emergence of this distinct technical pattern in the Bitcoin structure has sparked an enthusiastic response from analysts, as they anticipate a massive breakout to the upside.  Roadmap To $120,000 Bitcoin Price Target According to the TradingView analysts chart, the Bitcoin price faced a rejection at an external supply area after experiencing an impressive 27% rally from a strong external demand zone between $$85,300 and $86,800. This rejection was a critical moment for the cryptocurrency, as it sparked the creation of what many experts call a perfect Bull Flag formation.  Related Reading: Bitcoin $166,000 Target Still In Play? The Extension That Determines Where Price Goes Next This bull flag pattern is typically known as a bullish continuation signal during an uptrend. It represents a halt in a cryptocurrency’s upward movement before the trend resumes. In the case of Bitcoin, Weslad suggests that its recent rejection is not viewed as a downturn but rather as a smart money accumulation zone designed to shake out weaker hands who panic during market declines.  Despite its pullback, Bitcoins recent price action has demonstrated a strong resilience in an immediate demand zone between $91,000 and $95,000. The analyst also describes this correction as a fake down, noting that it was due to liquidity engineering. This strategic liquidity grab allows large players to accumulate BTC at favourable prices before the next significant move upward. While noting the Flag Pole formation, Weslad also highlights a recent breakout from a Descending Channel that has previously restricted Bitcoins price movements. This channel breakout signals the possible resurgence of Bitcoins bullishness, with the analyst predicting an initial surge to $108,089.  If Bitcoin can maintain a positive momentum, the pathway to an ultimate Flag Pole target of $120,843 becomes plausible. Monitoring Breakout Signals While Weslad projects a new all-time high for Bitcoin at $120,843, the analyst also emphasizes important signals that could indicate an imminent breakout. He revealed that if Bitcoin can successfully flip the aforementioned external supply zone between $108,000 and $109,000, the cryptocurrency could see its price skyrocket to new highs. Related Reading: Bitcoin Price In Trouble? Bearish Divergence That Led To Market Crash Last Cycle Returns At the time of writing, Bitcoin’s price is $96,142, marking a 2.25% decline over the past week. Featured image from Unsplash, chart from Tradingview.com

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