Ah, the crypto market! A wild beast, swinging between the realms of hope and despair, where the bulls and bears dance a chaotic tango. While the short-term price momentum might be whispering sweet nothings to the bulls, the long-term horizon is a different tale, filled with ominous clouds and rolling indicators. What fate awaits our beloved layer 1 blockchains like $SOL, $TRX, and $SUI? Buckle up! š¢
$SOL about to crash through support?
Behold the $SOL price, gracefully gliding downwards within a descending channel, like a bird with a broken wing. Currently perched at the top of a support band stretching from $143 to $125, it desperately needs to bounce off this support, pierce through the descending channel, and soar back to higher altitudes. But alas, itās easier said than done! š
To add to the drama, the weekly Stochastic RSI indicators are pointing downwards like a sad puppy. Thereās a glimmer of hope at the 50.00 level, but letās be realāif those indicators keep plummeting, the price will likely follow suit, like a lemming off a cliff. š¾
Zooming out to the 2-week time frame reveals a cross down in the Stochastic RSI indicators. If this cross-down is confirmed by the end of the week, we might as well start writing the eulogy. š„
And at the very bottom of the chart, the Relative Strength Index is on a downward spiral, preparing to cross below the yellow moving average line. If that happens, itās just another nail in the coffin. šŖ¦
$TRX parabolic curve still intact
Now, letās turn our gaze to $TRX. Despite the weekly Stochastic RSI indicators crossing down, the parabolic curve remains intact, like a stubborn old man refusing to leave his favorite chair. This curve is a beacon, signaling when $TRX might take a big correction. If the price tumbles through the curve line and confirms below, weāll know itās time to panic! š±
But for now, the trend is still holding strong. If the weekly Stochastic RSI indicators decide to turn back aroundāeither at the 80.00 or even the 50.00 levelāthen we might just witness a parabolic explosion in $TRXās price. š
$SUI price descending to strong support
As we gaze upon the weekly price chart for $SUI, we see clear support and resistance levels, like a well-marked hiking trail. The Stochastic RSI indicators are eyeing a dip below the 50.00 level, and thereās a potential cross-down looming on the 2-week time frame. At the bottom of the chart, the Relative Strength Index is preparing to cross below the yellow moving average line, like a contestant ready to exit the stage. š
But fear not! Thereās solid support at the current level, with major support lurking below at $2.36 and then at $1.92. If the price descends to these levels, a bounce is expected. And if this coincides with the Stochastic RSI indicator lines hitting rock bottom and starting to cross up, we could be in for a thrilling upswing! š
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2025-06-19 20:38