Dogecoin, Cardano, Zcash and Solana stalled at key support levels, and the bearish trend continued

Mainstream altcoins approach key support levels under continued bearish pressure

As bearish momentum sweeps across the cryptocurrency market, major altcoins still face severe challenges. Dogecoin, Cardano, Zcash and Solana all failed to break through key technical resistance levels, and most currencies remain hovering near annual lows.

Dogecoin trading volume shrank, and its price was close to the low of the year.

Dogecoin failed to regain its upward momentum after falling below US$0.11 in May. The token currently hovers around $0.069, slightly above the important psychological support level. Technical indicators show a clear bearish pattern: prices continue to fall below the 50-day, 100-day and 200-day moving averages, the main resistance level is at the 50-day moving average (approximately US$0.073), and the 100-day moving average (US$0.078) and 200-day moving average (US$0.101) constitute upward pressure.

Many rebounds have encountered a new round of selling pressure, which has plunged DOGE into the downward channel. However, the recent decline has been accompanied by shrinking trading volume, indicating that panic selling has subsided, but there is currently a lack of enough buying to push for a reversal. The momentum indicator also highlights its weak position: the Relative Strength Index (RSI) remains at a low of 39, well below the neutral 50 level, indicating that sellers are less urgent but buyers are still weak.

In the past few trading days, dogcoin has stabilized and avoided a deeper decline. If the current support level is held, it may launch a test to the 50-day moving average, but the 100-day moving average needs to be recovered to stabilize the medium-term technical side. If it clearly falls below US$0.068, it may hit a new low for the year and continue the long-term downward trend. For now, any brief rebound can only be regarded as a short-term volatility in a generally bearish environment.

Zcash returns to support after a July correction

Zcash, a cryptocurrency focused on privacy protection, has fallen back to around $457 from a recent local high of around $580. The decline put prices into key technical support areas that overlap with the 50-day moving averages ($461) and 100-day moving averages ($475). Unlike at the beginning of the year, this correction is more moderate, with declining trading volume indicating profit-taking rather than panic selling.

The RSI currently reads around 42, indicating that bullish momentum has weakened since the July rally. Below current prices, the continuing upward 200-day moving average ($413) provides long-term support. Holding that level would maintain the overall structure of the recovery since its April low. A break through the 100-day moving average (about $475) may boost buying, once again challenging the psychological barrier of $500, and the next resistance range is $520 -540.

If it fails to hold the support of the 50-day moving average, ZEC may test the 200-day moving average, threatening the recent uptrend.

Cardano stabilizes but faces significant resistance

Cardano remains one of the most oversold top altcoins. After stabilizing around $0.168, the ADA held on to its 50-day and 100-day moving averages (around $0.165 and $0.166 respectively), which have turned into support. The 200-day moving average, a stronger resistance level, remains above $0.197.

Technical improvements have been made since June, with buyers repeatedly defending the $0.15 area and forming a series of higher lows. However, the asset is still well below long-term resistance, and strong momentum is still difficult to find. Throughout July, Cardano was basically sideways, fluctuating in a narrow range-buyer activity increased but did not initiate a sustained rebound.

The RSI is slightly above 51, indicating that the worst selling pressure has passed, but did not trigger an overbought signal. A breakthrough of $0.18 would challenge the downward 200-day moving average ($0.20), and recovering that level would mark a stronger bullish turn. A loss of $0.165 could offset most of the recent gains and send prices back to June lows. Cardano's outlook remains cautious before a decisive breakthrough of long-term resistance levels, but no longer deteriorates sharply.

Solana is in range trading

Solana struggled to maintain momentum after attempting a rebound in July and is currently trading around US$73.6. Multiple rallies subsided at resistance, and the 50-day moving averages ($74.9) and 100-day moving averages ($75.8) continued to suppress short-term gains. The 200-day moving average (about $92) remains out of reach, and the asset has reached a lower high since reaching a peak in May.

Despite the brief rebound, Solana is still in corrective range oscillation mode rather than initiating a new uptrend. The RSI has dropped to 44, indicating that sellers are still dominant but have not pushed the tokens into oversold territory. Repeated testing confirmed support in the $72 -73 range. A loss in this area could open up space to fall towards the June low of $68. Conversely, recovering the 50-day and 100-day moving averages will improve the outlook and is expected to challenge the $80 again. Prior to this, Solana was still stuck in the sideways consolidation stage, waiting for a clear breakthrough or break.