Solana, Zcash and Bitcoin continue to consolidate, with prices below key moving averages

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Solana, Zcash and Bitcoin continue to consolidate, and key resistance levels suppress the rebound.

Solana, Zcash and Bitcoin all show signs of continued consolidation, and it is difficult to establish a clear reversal trend for each asset. Despite previous attempts to rebound, technical indicators suggest that short positions still dominate the medium-term trend of these cryptocurrencies.

Solana continues to be under pressure

Solana failed to regain its 100-day moving average after another failed attempt to rebound. The asset is currently trading at $73 and cannot break through any major resistance zone, except the 200-day moving average well above $79.60 remains a key resistance above it.

Recent trading hours showed that Solana briefly stood above the 100-day moving average of US$74.50, but this momentum failed to last. Shorts have regained control, pushing prices lower, while the 50-day moving average continues to drop to around $75.70.

These trends have created a complex resistance structure that makes it difficult for Solana to achieve a strong recovery without broader market shifts. Although the asset has rebounded repeatedly from June lows, July's performance showed lower highs and fading momentum.

Rallies repeatedly lost momentum before breaking through key trend levels, as participants seemed more inclined to reduce their positions rather than establish new long positions. Overall trading volume is also shrinking, reflecting weakening confidence among buyers and sellers.

The lack of aggressive selling reduces the likelihood of another sharp decline, but demand remains insufficient to drive a sustainable breakthrough. The Relative Strength Index (RSI) has dropped to around 48, indicating that buying pressure has weakened but has not yet entered oversold territory. This could pave the way for further declines after breaking key support levels.

As the RSI fell back to around 48, momentum weakened again, indicating that buyers 'influence is weakening, but Solana has not entered oversold status.

Traders are paying close attention to the US$72 support area. A break below this area may expose the basis of a rebound between $68 and $70 in June. For bulls to regain control, Solana must regain its 50-day and 100-day moving averages. Significant technical improvements occur only when the price closes above the 200-day moving average near $80.

Zcash tests key support levels

The privacy-focused cryptocurrency Zcash has fallen back to near its 200-day moving average after losing momentum at the end of July. After rising earlier in July, ZEC has fallen below its 50-day and 100-day moving averages, potentially reversing most of its previous gains.

Zcash is currently trading at close to $462. The 200-day moving average at around $411 is the last important long-term technical support below current prices. After hitting a high of $570, the asset formed a pattern of lower highs and lower lows, indicating buying interest has faded.

Both the 50-day moving averages ($495) and 100-day moving averages ($472) currently pose direct resistance, making any short-term rebound more difficult.

Trading volumes have dropped significantly since June and early July, indicating reduced market participation after a summer rebound. This is consistent with worsening price momentum and cautious market sentiment, with the RSI falling to around 43 but not entering oversold territory.

This structure leaves room for Zcash to fall further before attracting a lot of bargain-hunting interest and approaching technical exhaustion.

If the current price cannot be held, the market's attention may turn to the 200-day moving average near $410 as the next key technical support. Whether Zcash can sustain a broader recovery or enter a longer correction may depend on whether that level is held.

Bitcoin sideways consolidation and key price zones

Bitcoin continued to trade in a narrow range around $64,000 after recovering from a sharp decline in June. Although it has regained its 100-day moving average, the cryptocurrency is still below its 50-day and 200-day moving averages, limiting its clear return to bullish conditions.

In recent fluctuations, Bitcoin fell from above US$80,000 to a local low near US$59,000, before forming a series of higher lows in subsequent trading sessions. The flattening 100-day moving average near $63,300 serves as dynamic support as buyers defend the level.

Resistance remains strong. The 50-day moving average is around $67,500 and is still trending downward, while the 200-day moving average is well above $73,200. Bulls must break through this area to change the long-term trend outlook.

Trading volumes have dropped significantly since the initial sell-off in June. The current market atmosphere is similar to an accumulation or range trading stage, with neither buyer and seller showing a clear advantage.

Kinetic indicators, including the RSI, have also stabilized, with the index recovering to 53, but still lacking enough momentum to support a lasting breakthrough. More sustained buying is needed to overcome resistance near $65,500 and the 50-day moving average.

Key support for Bitcoin is between US$63,000 and US$64,000. A clear break in the zone could open the channel to $61,000 and could even retest local lows near $59,000 in June.