The crypto market was mixed today, Nov. 7, as Bitcoin remained slightly above $100,000. The market capitalization of all tokens dropped by 1.1% to $3.39 trillion. This article explores some of the top reasons why tokens like Filecoin (FIL), Internet Computer ICP), Zcash (ZEC), and Dash (DASH) are in a strong bull run.

Zcash and Dash prices are soaring as demand for privacy tokens jump 

Top privacy tokens like Zcash and Dash have been in a strong uptrend this month. Zcash has jumped from below $50 in October to $650 today as the relentless bull run accelerated.

Zcash rally was sparked by Grayscale, which launched a fund tracking the token last month. This fund has now attracted over $150 million in assets, a trend that may continue as the token rally accelerates.

Zcash price has also jumped amid pumping by popular crypto investors like Arthur Hayes, who has predicted that it will jump to over $100,000 in this cycle.

Most importantly, there are signs that people are using its token in transactions as the number of shielded tokens has jumped sharply in the past few months.

For starters, Zcash is a unique cryptocurrency that gives users a choice on whether they want their transactions to be on a public ledger or private. Shielded transactions do not reveal key details like the amount, sender, and the recipient  

Dash price has also surged in the past few weeks, moving from a low of $19 to a high of $150. This rally was primarily because of the ongoing Zcash surge since the two are in the privacy industry.

Still, the main risk that these tokens are facing is that they have now moved to the markup phase of the Wyckoff Theory, meaning that they will soon go to the distribution and markdown phases.

ICP price jumps after Caffeine launch 

Internet Computer’s ICP token price has done well in the past few days. It has jumped from below $2 in October to a peak of $9 today. It is now hovering near its highest level since February 1 this year.

The main reason why the ICP price has surged is the view that it was a bargain after the token plunged by over 86% from its highest level in November last year.

It also jumped after the developers launched Caffeine, a new AI platform for website and application development. The platform enables users to build quality applications and websites by just describing them on a ChatGPT-like platform. As such, there is anticipation that the Internet Computer has now become a major player in the AI industry.

Filecoin price jumps amid bargain hunting 

Meanwhile, Filecoin price jumped in the past two days, moving from a low of $1.3125 on Tuesday to $2.3 today.

There was no major catalyst that drove the rally, meaning that the rally was driven bargain hunting by traders. Another possible reason is that the DePIN Day will be on November 18, a move that may benefit tokens in the industry.

The other possible reason why the Filecoin price rose is that it expanded its relationship with SingularityNET, a top player in the artificial intelligence industry..

Filecoin price is also rising as investors move to tokens in the artificial intelligence industry, with top players like Near Protocol, FET, and ICP being in a strong uptrend.

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The IAG share price sank by over 8% today, Nov. 7, as the company published its financial results for the third quarter. It plunged to a low of 373p, down sharply from the year-to-date high of 428p.

IAG share price crashes amid weak US demand 

IAG, the parent company of companies like British Airways and Aer Lingus, came under intense pressure as the company published its financial results, which were largely weaker than expected.

The top-line numbers showed that its revenue rose by 2% in the third quarter to €2.053 billion, while its profit dropped by 2.3% to €1.4 billion.

In a statement, the management noted that its cargo revenue dropped by 6.9% in the third quarter, while passenger unit moved downwards by 2.4%.

Its nine-month revenue rose by 4.9% to €25.23 billion, while the operating profit was up by 18.3% to €3.9 billion.

The main reason why the IAG share price crashed is that its crucial North American business continued to struggle in the last quarter. This trend may continue now that the US is in the longest government shutdown ever. In a statement, the management said: 

“As expected the North Atlantic market saw some softness in US point-of-sale economy leisure and unit prices across our airlines were lower in the European market due to a combination of high growth by British Airways and more competitive markets elsewhere.”

On the positive side, the challenges in North America may turn out to be temporary, which will help it to resume its growth in the coming months. 

The company has also continued to improve its balance sheet, helped by its strong free cash flow and a recently issued five-year €500 million unsecured bond with an interest of 3.35%. It now has a net leverage of 0.8x, better than 1x in the same period last year.

Additionally, the company has continued to return cash to investors through dividends and share buybacks. It increased its dividend to €0.048, and now expects to pay more money than the €427 million it paid last year.

The company has also repurchased shares worth €950 million of the planned €1 billion, and it plans to announce another package in February when it publishes its financial results.

IAG stock price technical analysis

The weekly timeframe chart shows that the IAG stock price has done well in the past few years. It has jumped from the pandemic low of 88p to a high of 425p this year.

This recovery happened as the company returned to growth and sorted out its debt issues. The surge has coincided with that of other global airline groups like Delta, United, and Lufthansa.

The rebound also coincided with the restart of dividends and share repurchases program that has boosted its shareholder returns.

Most recently, the stock jumped from the April low of 207p to 425p as concerns about Donald Trump’s tariffs eased.

The stock now remains above the 50-week and 100-week Exponential Moving Averages (EMA), a sign that bulls are in control. However, it has now formed a bearish engulfing pattern, which often leads to more downside.

Therefore, the most likely scenario is where the IAG stock price drops to 360p, and then resumes the uptrend. This initial target is important as it was the highest point in February this year. As such, it is now forming a break-and-retest pattern, which will lead to more upside in the near term.

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The SMCI stock price suffered a harsh reversal in the extended hours after the company published its financial results that missed analysts’ estimates. It dropped by as much as 10% to $43.20, down by over 63% from its highest level in 2024 when it was one of the hottest stocks in Wall Street.

Why Super Micro Computer stock is falling 

The Supermicro stock price pulled back sharply after the company published relatively weak financial results even as the artificial intelligence (AI) theme continues.

Supermicro is one of the top players in the sector, thanks to the products it makes, which include rack servers, GPU servers, blade servers, BigTwin and ultra systems, and storage units.

The company’s slowdown is mostly because of the rising competition from companies like Dell, HP Enterprise, Lenovo, and Cisco.

Its results showed that its revenue dropped by 15% to $5.0 billion, down from $5.8 billion in Q4’25 and $5.9 billion in Q’25. This progression shows that its business is seeing a robust slowdown at a time when it should be growing.

The company’s margins also declined, with the gross figure falling from 13.1% in Q1’25 to 9.3% in Q1’26. All this led to a sharp decline in its net profit, which moved to $168 million.

On the positive side, the company reported maintaining a high backlog and its forward guidance. Management expects that its net sale will be between $10 billion and $11 billion in the second quarter and annual revenue of $38 billion. It backlog stands at $13 billion. 

Supermicro inventory has soared

The SMCI stock also dropped after the company announced a big increase in its inventories. Its inventories soared to over $5.7 billion in the first quarter, up from $4.6 billion in the same period last year. 

Rising inventories is often a bad sign for a company as it sends a signal that its products are not selling as fast as anticipated. It also often leads to cash flow issues and leads to lower margins as a company is forced to lower prices. 

SMCI stock has other challenges that may drag its performance. One of these is that the share of inventors shorting the company is increasing as evidenced by the jump in short interest, which has move to about 14%.

Read more: Top 4 reasons why Supermicro’s bond offering is a positive for SMCI shares

More investors are shorting the company because of it slow growth and falling margins. Most importantly, other companies like Dell and HPE have boosted competition in the server industry.

Meanwhile, there is the lingering challenge of the bursting of the AI bubble, which will lead to lower orders from its customers. 

SMCI stock price technical analysis

The weekly chart shows that the Supermicro stock price has crashed from a high of $122.83 in March last year to the current $47.40. 

It has formed a rising wedge pattern, which is one of the most common bearish signs in the market. Also, the company has formed a bearish flag pattern, and the Supertrend has remained in red.

Therefore, the most likely scenario is where the stock stages a strong bearish breakout, potentially to $30 and below. 

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The iShares Semiconductor ETF (SOXX) and the VanEck Semiconductor ETF (SMH) suffered a harsh reversal this week as top companies in the index shed over $500 billion in value following key earnings. 

SMH dropped to $352, down from the all-time high of $372, while SOXX fell to $296 from a high of $313. This article explores why these semiconductor ETFs are falling and whether they will rebound soon.

SOXX and SMH ETFs dropped amid warnings of an AI bubble

The main reason why the SOXX and SMH ETFs crashed is that there are lingering concerns about an AI bubble in the United States and other countries. 

Michael Burry, a top investor known for predicting the housing crisis in 2009 has gone against the grain and shorted high-flying companies like Palantir Technologies and Nvidia. 

He cited their significantly high valuations and the ongoing irrational exuberance. Still, while Burry is generally a respected figure in the investment industry, some of his recent calls have not worked out well. 

The main concern of the AI bubble is that companies are investing billions of dolllars and it is unclear how they will recoup their investments.

One of the top concerns is OpenAI, the biggest player in the industry. OpenAI has inked deals with most companies in the chip industry. This week, it inked a $38 billion deal with Amazon.

It has entered a $100 billion deal with AMD, and others by companies like Microsoft, Broadcom, and CoreWeave. In total, its deal-making is now estimated to be worth over $1.4 trillion. 

In a statement this week, Sam Altman revealed that the company’s revenue will be over $13 billion this year, making it the biggest player in the sector. 

Analysts are concerned about monetization in the industry, with a Bain report estimating a $800 billion revenue shortfall by 2030. 

Palantir, AMD, and Qualcomm earnings

The SOXX and SMH ETFs have pulled back this week after the latest results by Palantir and AMD. Palantir, a top player in the AI industry published strong results and boosted its forward guidance. 

Nonetheless, the stock plunged by 10% as the guidance was lower than what analysts were expecting. Still, its results demonstrated that its business was still growing and attracting more commercial clients. 

AMD, another top player in the SOXX and SMH ETFs, also plunged by over 4% in the extended hours. This retreat, which we predicted here, came as the company’s revenue jumped by 36% to $9.2 billion and its net income rose by 61%.

The next key catalyst for these semiconductor ETFs is the upcoming Qualcomm earnings. This will be a closely-watched report as it comes after it unveiled its AI chip to rival Nvidia.

Will these semiconductor ETFs rebound?

Concerns that we are in an AI bubble have been going on in the past few months. Also, there are concerns about the valuations of these funds. SOXX has a PE ratio of 36.6, while the SMH ETF has a multiple of 40. These numbers are much higher than the S&P 500’s 23.

Therefore, it is normal to predict that a correction will happen at some point when these companies stop growing. This correction will likely happen in 2026 when big customers like Microsoft and Meta Platforms will slow their investments.

In the near term, however, this spending will continue, which will push these ETFs higher. A key catalyst for their performance will be the upcoming Nvidia earning on November 19. Hints that its business is slowing will have a negative impact on the ETFs.

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Qualcomm stock price has suffered a harsh reversal in the past few days as the recent excitement about its new AI chips waned. QCOM was trading at $172.85, down by 16% from its highest level this year. So, will the stock rebound after earnings?

Qualcomm to showcase AI progress

Qualcomm, one of the biggest semiconductor companies globally, will publish its financial results after the market closes on Wednesday. 

These results will be important because they come a few days after the company unveiled A1200 and AI250 chips for data centers. AI200 will be a low-cost alternative to existing solutions, while AI250 will have advanced features to help in the AI inference technology.

Therefore, these results will have the management talk about these products and issue guidance on revenue and profitability as it takes on top companies in the industry. 

Also, they will talk about the recent Arduino acquisition that is also aimed at accelerating its AI features. It also acquired Alphawave in a $2.4 billion deal to boost its AI capabilities.

The results also come after China launched an investigation into the company as the trade war with the US continued. Chinese regulators are investigating its planned buyout of Autotalks, a company that makes vehicle-to-everything communication chips.

QCOM earnings preview

Data compiled by Yahoo Finance shows that the average revenue estimate is $10.76 billion, up by 5% from the $10.2 billion it made in the same period last year. Its earnings-per-share is expected to come in at $2.87, higher than the previous $2.69.

Analysts expect that its full-year revenue will be $43.5 billion, up by 11% from a year earlier. This growth will be fueled by the Qualcomm CDMA Technologies (QCT).

The most recent results showed that its third-quarter revenue grew by 10% to $10.4 billion, with the QCT figure rising by 11% to $9 billion. Its Qualcomm Technology Licensing (QTL) revenue rose by 22% to over $2.7 billion, driven by key areas like handsets, IoT, and automotive.

The company has benefited from its long-standing partnership with top companies like Xiaomi, Samsung, and OPPO. Its other products are used by top companies like BMW, Mercedes-Benz X and Honda.

One thing about Qualcomm is that its stock is not all that expensive. It has a GAAP forward price-to-earnings ratio of 18, much lower than the sector median of 32. It is trading at a significant bargain compared to other companies like Nvidia and AMD.

Qualcomm stock price technical analysis 

QCOM stock chart | Source: TradingView

The daily timeframe chart shows that the QCOM stock price has pulled back in the past few days, moving from a high of $206 to the current $172.

It has crashed below the key support level at $174.53, its swing on September 24. It remains above the 50-day Exponential Moving Average (EMA).

Therefore, the stock will likely rebound after earnings, potentially to the psychological level at $200. On the flip side, a move below the support at $167, the 50-day moving average, will invalidat the bullish view.

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BT share price rose modestly after the company published mixed financial results. It jumped by over 2.7%, reaching a high of 185p, its highest level in over a week. It remains 16% below its highest level this year as investors watch the progress of its turnaround.

BT Group earnings report

BT Group, the giant telecom company, published its financial results as Allison Kirby’s turnaround efforts continued. Its reported revenue dropped by 3% to £9.8 billion as the company’s legacy business continued to deteriorate.

The consumer segment made £4.6 billion, down by 3% from the same period last year. Its international business, which the management is existing, also continued to deteriorate, reaching £1.1 billion. 

Most importantly, the perennially underperforming business segment made £2.5 billion, down by 2% from the same period last year. 

The company’s profitability dropped slightly during the quarter, with the adjusted EBITDA moving to £4.13 billion to £4.12 billion, with the next international segment falling by 27% to £66 million.

Kirby noted that the company’s adjusted revenue for the year will be £20 billion, while the adjusted EBITDA will be between £8.2 billion and £8.3 billion.

The management anticipates sustained revenue growth starting from 2027, while its capital expenditure will drop by £1 billion by the end of the decade.

This capital expenditure will drop because it has already achieved most of the needed investments. For example, over 85% of the users have access to 5G, while its OpenReach capex will continue to fall as most customers are connected.

Its savings in the first half of FY’26 stood at over £247 million, which brought its cumulative total to £1.2 billion in the last 18 months. The company now hopes to achieve a £3 billion in savings in this program. In a statement, Kirby said:

“BT’s transformation is delivering ahead of plan, as our UK focus and radical simplification and modernisation are helping to offset declines from our International and legacy businesses and higher labour-related costs since the start of this tax year.”

BT share price technical analysis

The daily chart shows that the BT stock price has plunged in the past few days. It has dropped from a high of 218p, where it formed a double-top pattern, which is a common bearish sign in technical analysis.

The stock has now moved below the 50-day and 100-day Exponential Moving Averages (EMA) and is about to form a mini-death cross pattern, which often leads to more downside.

BT share price has moved below the Major S/R pivot point of the Murrey Math Lines tool. It has also moved below the Ichimoku cloud and the Supertrend indicator.

Therefore, the most likely scenario is where the stock remains under pressure in the coming weeks. A move below the key support level at 179p will point to more downside, potentially to the next key support at 175p. A move above the resistance at 197p will invalidate the bearish outlook.

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IREN stock price continued its strong rally, reaching a record high as traders waited for its earnings, and the artificial intelligence industry tailwinds gained steam. It jumped to a high of $76, bringing its market capitalization to over $20 billion. It has jumped by over 1,400% from its lowest level this year.

IREN stock surges ahead of earnings

IREN, a top company in the Bitcoin mining industry, is doing well after its recent pivot to the artificial intelligence industry, which is gaining momentum this year.

The company has continued to invest in its data center and is now housing thousands of Nvidia and AMD chips in its data center, a process that will continue in the coming months.

In September, the company said that it expanded its GPUs to almost 11,000, with most of them being Blackwells. This growth will likely continue now that the company has landed a large order from Microsoft, which will pay it over $14 billion in the next five years in a deal that may be expanded.

Most importantly, the company is still mining substantial numbers of Bitcoins, which has helped it to grow its revenue. While investors are focusing on the AI potential, the mining potential is still there.

Its mining revenue in the fourth quarter came in at $180 million, up sharply from the $141 million it made in the same period last year. Its AI revenue, on the other hand, was $7 million, up from the previous $3.6 million.

Analysts are optimistic that the company’s business continued doing well in the first quarter, helped by its Bitcoin and AI initiatives. The average estimate is that its revenue will be $241 million, up by 344% from what it made last year. 

Analysts also expect its earnings-per-share to come in at $0.15, a big increase from the 16-cent loss it made last year.

The guidance for the second quarter is expected to come in at $257 million, while its annual revenue will be $1.17 billion, up from the $510 million it made last year  

These numbers mean that it has become one of the fastest-growing companies in the US and is mirroring the performance of CoreWeave and Nebius, which pioneered this model.

Analysts hope that the company will continue doing well as more large and smaller companies embrace its infrastructure for their AI workloads. Some of the potential customers are companies like Anthropic, Perplexity, Amazon, and Oracle.

IREN share price technical analysis 

IREN share price chart | Source: TradngView

The daily timeframe chart shows that the IREN stock price has gone vertical, moving from a low of $5 in April to a high of $75 today.

As a result, the stock has moved above all moving averages and the important resistance level at $74, invalidating the double-top pattern.

It also remains above the Ichimoku cloud and the Supertrend, meaning that bulls are in control for now.

The risk, however, is that its strong numbers have been priced in, meaning that it may pull back after the earnings.

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The AMD stock price has been in a strong bull run and is hovering at a record high as investors waited for the latest financial results, which will provide more color on the health of the artificial intelligence industry. It was trading at $260, up by over 220% from its lowest level this year.

AMD earnings preview 

AMD, a top player in the semiconductor industry, will be in the spotlight this week as it releases its financial results, which will provide more color on its revenue growth and the health of the AI industry.

These results come at an important period for AMD, which has become the best alternative to NVIDIA in the AI industry, where its GPUs are slowly becoming popular.

Most recently, the company reached a multi-billion-dollar deal with OpenAI, which will see the latter have the option to buy a 10% stake in the company. OpenAI wants to diversify its operations from NVIDIA and has already inked a custom chip deal with Broadcom. 

The upcoming results will not include this deal as AMD will start its deliveries in the second half of the year. AMD believes that it will receive over $100 billion in revenue from the deal.

Analysts expect the upcoming results to show that AMD’s revenue rose by 28% in the third quarter to over $8.75 billion. Its earnings-per-share is expected to come in at $1.17, up from the 92 cents it made in the same period last year. 

At the same time, analysts expect AMD’s forward guidance to show that its annual revenue for the year will be $33 billion, up by $28 billion last year. Odds are that the company will generate higher revenues and profits as the management tends to be highly conservative when issuing its guidance.

Valuation concerns remain 

The most recent results showed that AMD’s revenue rose to $7.7 billion in the second quarter of the year, up from the $5.8 billion it made last year. This revenue was primarily driven by its Ryzen and EPYC processors, which are used in data centers.

AMD’s gross margin dropped to 40% from 49% because Donald Trump ordered it and Nvidia not to sell products to China during the quarter. As a result, the company suffered $800 million inventory charges.

Still, the main risk for the company is that it is highly expensive. It has a forward PE ratio of 113.6, much higher than  Nvidia’s 50, and the sector median of 32. The GaaP PE ratio is 65, also much higher than the sector median of 25.

These validation numbers are also higher than its historical averages. AMD’s five-year average is 93, meaning that it is currently trading at a premium because of the deal with OpenAI. Still, as we saw with Palantir stock, it will need to publish strong financial results and offer more positive guidance.

AMD stock price technical analysis 

The weekly timeframe chart shows that the AMD stock price has been in a strong uptrend in the past few months, moving from a low of $76 in April to a record high of $260.

AMD shares have moved above the important resistance level at $225, which was the highest level in May last year. It has now invalidated the double-top pattern whose neckline is at $76.

The stock remains above the 50-week and 100-week Exponential Moving Averages (EMA).

Also, the Relative Strength Index has moved to the extremely overbought level at 80. Therefore, there is a risk that the AMD share price will retreat and possibly retest the important support level at $225 after its earnings. Such a drop will be bullish as it will be a break-and-retest pattern.

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The crypto market crash accelerated this week, with Bitcoin falling briefly below the important psychological point at $100,000. Most altcoins have plunged, with meme coins like Shiba Inu, Dogecoin, and Pepe being the top laggards.

This crypto crash has led to a $700 billion wipeout, as the market capitalization of all tokens has moved from a high of $4.3 trillion to $3.4 trillion today. This article highlights some top reasons why Bitcoin and altcoins are plunging.

Crypto market crash triggered by liquidation tantrum

One major reason why the crypto market crash is happening is that the liquidation tantrum has accelerated recently. This tantrum accelerated after the crypto industry suffered a $20 billion wipeout in a day on October 11 after Donald Trump threatened to impose huge tariffs on Chinese goods.

Liquidations have continued in the past few weeks. Data shows that they jumped by 58% in the last 24 hours to over $1.9 billion. Over 441k traders were wiped out in the last 24 hours.

Therefore, with liquidations rising, many investors have opted to either stay out of the market or sell their holdings to prevent a similar wipeout.

Indeed, data shows that the futures open interest in the crypto industry has continued falling in the past few months. It dropped by 4.67% in the last 24 hours to $141 billion. Options traders have largely placed bets that the Bitcoin price could crash to $80,000.

Whale selling has contributed to the crypto crash

Meanwhile, there are signs that whale investors have continued to sell their tokens in the past few days, which has contributed to the crypto market crash.

According to Bloomberg, longtime Bitcoin holders have offloaded 400,000 tokens worth over $45 billion. This selling has led to more pressure in Bitcoin, and other cryptocurrencies in the past few weeks. In a note, an analyst cited by Bloomberg said:

“I am not a believer in the cycle, but I would assume that we sort of consolidate and potentially drift even a bit lower from here. $85,000 is my maximum downside target.”

Crypto ETF inflows has slowed 

Meanwhile, the crypto market crash is happening as the recent data shows that institutional demand for cryptocurrency ETFs has continued falling in to past few days. 

Data compiled by SoSoValue shows that spot Bitcoin ETFs had outflows of over $577 million on Tuesday, the fifth consecutive day in the red. These funds have shed almost $2 billion in assets in the last five days.

Spot Ethereum ETFs have also had outflows in the last five days, bringing their cumulative inflows to $14 billion. They have shed over $700 million in assets.

Bitcoin and Ethereum treasury companies’ woes remain 

The other main reason why the crypto market is happening is that Digital Assets Treasury (DAT) companies are in trouble, which has affected their accumulation. 

Strategy stock price has plunged by over 50% from its highest level in 2024. Similarly, Metaplanet has plunged, with its market net asset value moving below the important support at 1. 

The same is happening among other treasury companies. SharpLink, a top buyer of Ethereum, has crashed by 92% from its highest level this year. Similarly, Tom Lee’s BitMine stock is down by over 70% from the all-time high.

The deteriorating performance in this industry is affecting the amount of Bitcoin and Ethereum purchases as the NAV multiples has fallen.

There are other reasons why the crypto market crash has happened this year, including the fact that Bitcoin has formed numerous bearish patterns, including a head and shoulders and a rising wedge. Also, the US dollar has jumped, while inflation remains at an elevated level.

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Solana and Hedera prices remained in a deep bear market as cryptocurrencies declined. SOL token was trading at $157, down by nearly 40% from its highest point this year. HBAR token has dropped to $0.1708, down by about 44% from the YTD high. 

SOL and HBAR ETF inflows have continued

Hedera and Solana prices have retreated in the past few months because of the ongoing crypto market crash. Bitcoin and most altcoins have also joined in this crash.

The two tokens have crashed even after the Securities and Exchange Commission (SEC) allowed the launch of their exchange-traded funds (ETF) to start trading in the United States.

Data compiled by SoSoValue shows that these funds have been received well by American investors.

Spot Solana ETFs have had inflows in all days since their approvals. They added over $14 million in inflows on Tuesday as the crypto market meltdown continued. 

These funds have had cumulative inflows of over $284 million, bringing their total assets to over $488 million, which is about 0.58% of all assets. 

The Bitwise Solana ETF (BSOL) has led with over $400 million, while Grayscale Solana ETF (GSOL) has over $88 million in assets. This growth will likely accelerate in the coming months as the agency approves more ETFs 

Similarly, the Canary Solana ETF has had inflows in the past five days, bringing its cumulative inflows to over $68 million. The fund now has over $60 million in assets under management.

This growth is notable as it is happening when the more blue-chip Bitcoin and Ethereum ETFs have continued to shed assets in the past few days. They have all shed assets in the last five consecutive days. 

Hedera price technical analysis 

The daily timeframe chart shows that the HBAR price has crashed in the past few months, moving from a high of $0.3050 in July to the current $0.1700. 

It has formed a descending channel and is now a few points above the lower side. Also, the coin has formed a death cross pattern as the 50-day and 200-day Exponential Moving Averages (EMA) crossed each other.

On the positive side, there are signs that it is forming a double-bottom pattern at $0.1600 and a neckline at $0.2190.

Therefore, while the HBAR price forecast is bearish, the double bottom pattern may lead to a rebound. This bullish outlook will become invalid if it drops below the double-bottom pattern and the lower side of the channel  

Solana price technical analysis 

The daily timeframe chart shows that the Solana price has been in a strong downward trend in the past few months, moving from a high of $253 to $150.

The coin crashed below the lower side of the ascending channel and then retested it. This performance is known as a break-and-retest pattern, which is a common continuation sign.

The coin has moved below the 50-day and 200-day Exponential Moving Averages (EMA) and is about to form a death cross pattern. It also moved below the key support at $171, its lowest level in October.

Therefore, the most likely scenario is where the Solana token continues falling, potentially to a low of $125, its lowest level in June. A move above the resistance level at $171 will invalidate the bearish view.

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