Solana found support at $85 and corrected some losses. SOL price is now consolidating above $90 and might aim for a steady increase.
- SOL price started a decent recovery wave above $88 and $90 against the US Dollar.
- The price is now trading above $90 and the 100-hourly simple moving average.
- There was a break above a key bearish trend line with resistance at $88 on the hourly chart of the SOL/USD pair (data source from Kraken).
- The price could continue to move up if it clears $92.80 and $95.
Solana Price Eyes Recovery
Solana price remained stable and started a decent recovery wave from $85, like Bitcoin and Ethereum. SOL was able to climb above the $90 level.
There was a move above the 50% Fib retracement level of the downward move from the $97.67 swing high to the $85.10 low. Besides, there was a break above a key bearish trend line with resistance at $88 on the hourly chart of the SOL/USD pair.
However, the bears are active near $92.00. Solana is now trading above $90 and the 100-hourly simple moving average. On the upside, immediate resistance is near the $92.20 level. The next major resistance is near the $92.80 level or the 61.8% Fib retracement level of the downward move from the $97.67 swing high to the $85.10 low.
The main resistance could be $95. A successful close above the $95 resistance zone could set the pace for another steady increase. The next key resistance is $102. Any more gains might send the price toward the $112 level.
Another Decline In SOL?
If SOL fails to rise above the $92.80 resistance, it could continue to move down. Initial support on the downside is near the $88.40 zone. The first major support is near the $85 level.
A break below the $85 level might send the price toward the $82 support zone. If there is a close below the $82 support, the price could decline toward the $75 zone in the near term.
Technical Indicators
Hourly MACD – The MACD for SOL/USD is gaining pace in the bullish zone.
Hourly Hours RSI (Relative Strength Index) – The RSI for SOL/USD is above the 50 level.
Major Support Levels – $92.80 and $95.00.
Major Resistance Levels – $88.40 and $85.00.
]]>They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
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Data reveals a majority of the Ethereum treasury companies are trading below mNAV, showcasing the effect of the latest price crash.
Ethereum Treasury Firms Are Looking Unhealthy
In a new thread on X, Capriole Investments founder Charles Edwards has discussed some metrics related to Ethereum treasury companies. A treasury firm refers to a public corporation that has adopted a digital asset like Bitcoin or Ethereum as its reserve strategy.
The idea was popularized by Michael Saylor’s Strategy (formerly MicroStrategy), which pivoted to being a BTC treasury firm back in 2020. Since then, the company has grown into by far the largest corporate digital asset holder, with a whopping $47.54 billion invested.
Earlier, companies were looking at only the number one cryptocurrency as a viable reserve asset, but this year, there has been a rise in holders of ETH, the coin ranked just behind BTC.
The Ethereum treasury frenzy peaked in August, but since then, the growth rate attached to them has witnessed a slowdown, as the chart below shared by Edwards shows.
The data for the institutional buying related to ETH over the last few years | Source: @caprioleio on X
From the graph, it’s clear that the rate of change for Ethereum treasuries is positive even after the slowdown, suggesting that companies remain in net accumulation. This has meant that, despite the outflows that the spot exchange-traded funds (ETFs) have witnessed recently, institutional buying still remains above the cryptocurrency’s supply growth, although only just.
While corporate accumulation continues, the ETH treasury business model may not be working for a lot of the firms. As the analyst has pointed out, the majority of companies have an mNAV value less than 1.
The percentage of the companies that are trading below mNAV | Source: @caprioleio on X
mNAV, standing for Multiple of Net Asset Value, is a metric that compares the market cap of a treasury firm against the total value of its reserve assets. The indicator being below the 1 mark naturally implies the firm’s valuation is less than its treasury’s worth.
About 64.3% of all Ethereum treasury firms currently fall into this zone. “That means the treasury company picture is a lot more unhealthy for ETH than Bitcoin,” explained Edwards.
Clearly, ETH treasuries are coming under pressure, so are any of them reacting by selling? Data suggests not many, as the net buy/sell ratio related to them still remains strong.
Looks like the buy/sell ratio has seen a drop in recent days | Source: @caprioleio on X
That said, while almost all Ethereum corporate holders are still net buyers, the buy/sell ratio has started to show a decline as the asset’s price has experienced its recent bearish shift.
ETH Price
Ethereum plunged toward $3,000 on Sunday, but the coin has since seen a small jump back to $3,200.
The trend in the price of the asset over the last five days | Source: ETHUSDT on TradingView
Featured image from Dall-E, capriole.com, chart from TradingView.com
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Crypto treasury firms holding BTC, ETH, and XRP are seeing unrealized losses in their portfolio. This is amid the recent month-long downturn in the market that exposed the risks of holding crypto as treasury assets. Crypto Treasury Firms Face Steep Valuation Losses The crypto crash has wiped billions from company treasuries that invested heavily in
The post BTC, ETH, XRP Treasury Firms Hit Hard Amid Crypto Crash- Will Wall Street Hold Or Sell? appeared first on CoinGape.
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Wall Street’s appetite for companies holding Bitcoin on their balance sheets is cooling, and investors are starting to show it, according to the New York Digital Investment Group.
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Greg Cipolaro, the firm’s global head of research, said the disparity between share prices and net asset value (NAV) for major buyers is narrowing even as Bitcoin reached highs earlier this year.
He pointed to several forces pushing those premiums down, from looming supply unlocks to increased share issuance.
Premiums On The Slide
Investor worry over future token unlocks is weighing on prices. Cipolaro listed other drivers: shifting corporate aims among digital-asset treasuries, fresh share sales, investor profit-taking, and a lack of clear differences between companies that simply hold Bitcoin.
Companies often used as proxies for Bitcoin gains — names like Metaplanet and Strategy — have seen that gap compress. In plain terms, stocks that once traded at a healthy premium to the coins they own are now much closer to their NAVs.
Buying Activity Slows Sharply
Reports have disclosed that the combined holdings of publicly disclosed Bitcoin-buying companies peaked at 840,000 BTC this year.
Strategy accounts for a third of that total, or about 637,000 BTC, while the rest is spread across 30 other entities.
Data shows a clear slowdown in purchase size. Strategy’s average buy in August fell to 1,200 BTC from a 2025 peak of 14,000 BTC. Other companies bought 86% less than their March 2025 high of 2,400 BTC per transaction.
Monthly growth has cooled too: Strategy’s monthly increase slid to 5% last month from 40% at the end of 2024, and other firms went from 160% in March to 7% in August.
Share Prices And Fundraising Values Are Coming Under Pressure
A number of treasury companies are trading at or below the prices of recent fundraises. That gap creates risk. If newly issued shares begin trading freely and owners decide to cash out, a wave of selling could follow.
Cipolaro warned a rough patch may be ahead and advised companies to consider measures that support their share price.
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Stocks May Face A Bumpy Ride
One straightforward move suggested was stock buybacks. According to Cipolaro, crypto focused companies should set aside some capital raised to buy back shares if needed. That approach can lift prices by shrinking the number of outstanding shares.
Meanwhile, Bitcoin itself has not been immune to swings. Based on CoinMarketCap quotes, BTC was trading around $111,550, down about 7% from a mid-August peak above $124,000.
The price move tightens the margin for error for treasury firms: their fortunes are linked to the coin, but their stock prices can move independently and sometimes more harshly.
Featured image from Unsplash, chart from TradingView