Downside pressure across alternative digital assets intensified this week as sellers seized control across key cryptocurrency charts. Leading tokens including Ripple, Cardano, and Solana have run into corrective territory following steep losses in previous trading sessions. The combination of persistent redemptions from exchange-traded funds and weakening momentum indicators has escalated the risk of deeper retracements. Even so, broader structural floors marked by long-term exponential moving averages continue to offer critical lines of defense.
Solana Weighed Down by ETF Outflows Despite Long-Term Floor
Institutional enthusiasm for Solana has cooled noticeably in the short term, with steady redemptions driving consecutive sessions of capital flight. Data compiled by SoSoValue revealed that exchange-traded funds tracking SOL logged $4.80 million in net outflows on Wednesday alone, pushing total liquidations for the current week to $17.73 million. Following a 3% drop in the prior session, the token traded near $115 on Thursday, indicating an interim corrective phase unfolding within a broader macro uptrend.
Live tracking data places Solana around $111.35, down 4.19% from its previous settlement of $116.22, against a 52-week pricing spread of $60.41 to $124.62 and trading volume at 0.85 times its 20-day benchmark. Momentum on the daily chart has turned distinctly defensive. The Relative Strength Index sits at 46, while the Moving Average Convergence Divergence indicator reads 3.21 against a signal mark of 4.57, producing a negative histogram of -1.36. Despite this shift, structural foundations remain solid, with the 50-day EMA at $107.42 (live calculation at $107.24) and the 200-day EMA at $96.60 (live calculation at $98.07) confirming an intact golden cross.
The price band spanning $107.42 to $96.65 acts as a pivotal demand zone where technical conditions continue to favor selective accumulation over aggressive shorting. Overhead, structural resistance emerges near the September 25 peak of $122.94, followed by a major cap at the January 13 high of $148.74 if buyers attempt a broader resurgence. Near-term pivot points position daily support at $109.73 and $108.11, with resistance levels situated at $114.83 and $118.32.
Samsung Integrates Circle USDC on Solana for Galaxy Users
Amid the prevailing market caution, an important technological development emerged regarding ecosystem adoption. Samsung revealed a formal partnership with Solana designed to bring Circle's dollar-backed stablecoin, USDC, directly onto Galaxy smartphones in the United States. Aimed at streamlining international money transfers, the cross-border remittance functionality will be built natively into Samsung Pay and Samsung Wallet. The feature is set to reside within the primary interface currently utilized for storing digital boarding passes and payment cards.
Ripple Confronts Moving Average Support Amid Cooling Demand
The cross-border payments asset Ripple hovered around $1.40 on Thursday after stabilizing near $1.4100 on Wednesday, following an earlier 5% slide. The token is actively challenging both its 50-day and 200-day EMAs, which converge tightly at $1.4000 and $1.4018. A decisive breakdown under this technical intersection risks extending the downward leg toward the September 16 low of $1.2468, representing an estimated 10% slide. A more pronounced sell-off could subsequently seek support around the July 21 inflection point of $1.1646.
Conversely, a successful defense of the 200-day moving average could catalyze a rebound toward the August 22 peak at $1.6999. On the institutional front, XRP-backed funds recorded flat flows on Wednesday following a modest $3.14 million allocation the prior day. These figures reflect a sharp deceleration from the $75.59 million influx logged in late September, highlighting diminished institutional appetite. Daily momentum indicators echo this hesitation, with MACD sliding beneath its signal line and RSI slipping to 44. Concurrently, derivative metrics and macroeconomic headwinds continue to weigh heavily on both Ripple and Stellar, which have retreated toward key support thresholds after logging three straight daily declines.
Cardano and Zcash Struggle Under Persistent Bearish Signals
Cardano has encountered renewed selling friction following a 4% decline in the previous session, placing direct strain on its 200-day EMA near $0.2423. However, with the 50-day EMA positioned at $0.2282 and the 200-day EMA at $0.2424 below current pricing, the overarching multi-month uptrend technically remains undamaged. A confirmed breach beneath $0.2282 could expose the 50% Fibonacci retracement level of the move from $0.3136 to $0.1385, situated around $0.2084. Technical readings reflect fading bullish pressure as RSI drops to 56 and MACD dips beneath its signal line.
In parallel developments, privacy-oriented Zcash has slipped under the $1,300 mark, stretching a ten-day decline away from its September 27 peak of $1,698. Outflows from Grayscale's ZEC fund remained steady, with $8.49 million exiting on Wednesday to signal subdued market appetite in the wake of its recent corporate stock split.
