Cryptocurrency Plunge: Significant Drop in Bitcoin, Ethereum, and Other Altcoins

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: Nov 04 2025

SOL-2.633%

BTC+1.6%

ETH-0.518%

Should l Buy SOL?

Market Decline: Bitcoin and Ethereum experienced significant declines, with Bitcoin dropping 2.9% to $104,568 and Ethereum falling 6.1% to $3,506.47, reflecting a broader market correction after recent gains.
Altcoin Struggles: Major altcoins like XRP, BNB, and Solana also faced substantial losses, with declines ranging from 6.4% to 10.6%, indicating a cautious sentiment among traders.
Smaller Tokens Surge: Despite the downturn in major cryptocurrencies, several smaller tokens such as Jelly-My-Jelly and Decred saw impressive gains, highlighting increased investor interest in lower-cap projects.
Cautious Market Sentiment: The overall market sentiment remains cautious but stable, as traders take profits while Bitcoin maintains its position above $100,000, suggesting potential for future movement.

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Technical Analysis for SOL

Technical Sentiment Analysis for Solana (SOL) As of , Solana (SOL) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 3 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for SOL stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.

Support, Resistance & Moving Averages From a structural perspective, SOL is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Solana (SOL) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	17.634	42.567	69.254	94.187	120.874	145.807	172.494
Fibonacci	42.567	62.286	74.468	94.187	113.906	126.088	145.807

About SOL

Solana is a highly functional open source project that banks on blockchain technology’s permissionless nature to provide decentralized finance (DeFi) solutions. While the idea and initial work on the project began in 2017, Solana was officially launched in March 2020 by the Solana Foundation with headquarters in Geneva, Switzerland.To learn more about this project, check out our deep dive of Solana.The Solana protocol is designed to facilitate decentralized app (DApp) creation. It aims to improve scalability by introducing a proof-of-history (PoH) consensus combined with the underlying proof-of-stake (PoS) consensus of the blockchain.Because of the innovative hybrid consensus model, Solana enjoys interest from small-time traders and institutional traders alike. A significant focus for the Solana Foundation is to make decentralized finance accessible on a larger scale.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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