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Analyst Insight: Solana, Hedera, Ethena Hit Oversold Levels

Analyst Insight: Solana, Hedera, Ethena Hit Oversold Levels

CryptotaleCryptotale2025/02/17 06:45
By:Cryptotale Staff
Analyst Insight: Solana, Hedera, Ethena Hit Oversold Levels image 0
  • Solana, Hedera, and Ethena are among the most oversold assets based on funding rates.
  • Negative funding rates suggest a bearish sentiment for Solana (SOL) and Hedera (HBAR).
  • Solana faces a 4.72% drop, while Hedera and Ethena show modest gains amidst bearish trends.

Cryptocurrency analyst Ali Martinez identifies Solana ($SOL), Hedera ($HBAR), and Ethena ($ENA) as the most oversold assets based on their funding rates. The analysis reveals that these cryptocurrencies exhibit significant weakness, raising trader concerns about the formation of a price bottom and the risk of further declines. Investors should continuously monitor market signals to identify early indicators of potential price reversals.

Analyst Insight: Solana, Hedera, Ethena Hit Oversold Levels image 1 Source: X

Solana ($SOL): A Struggle Amidst Market Weakness

At press time, Solana is trading at $184.14, reflecting a 4.72% decline in the current trading session. Since December, Solana has followed a bearish trend, dropping from $260 to approximately $184. 

According to Ali Martinez’s heatmap, Solana’s funding rates have remained negative for extended periods, aligning with bearish market conditions and potential oversaturation. A potential recovery for Solana could materialize if it finds strong support at $180.

Hedera ($HBAR): Bearish Sentiment Persists

Hedera is trading at $0.2202 at press time, down 2.82% over the past 24 hours. Hedera has been in a downtrend since peaking in December, with negative funding rates reinforcing the prevailing bearish sentiment. Hedera’s price has struggled to break the $0.25 resistance level and is now nearing the $0.20 support zone. 

The chart patterns indicate market indecision, with bulls hesitant to step in despite oversold conditions signaled by funding rates. Hedera needs to hold above $0.20 to avoid further declines.

Ethena ($ENA): A Modest Gain Amidst Market Uncertainty

Ethena, at press time, is trading at $0.4679, up 1.23% in the last 24 hours. Given the broader market conditions, this price action is a sign of resilience. Despite declining from highs above $1.00, Ethena is currently stabilizing within the $0.45–$0.47 range.

Recent positive funding rates suggest improving market sentiment around Ethena. A sustained market backing alongside stable funding rates could soon drive Ethena into an upward trend. Ethena’s price action risks dropping below its existing support level if market sentiment turns unfavorable.

Related: Solana’s Strong Bounce: Will It Trigger a Bullish Breakout?

Conclusion: Strategic Monitoring Required

Ali Martinez’s insights help investors understand the extent of current downturns and potential recoveries in this volatile market. Solana, Hedera, and Ethena’s oversold status, as indicated by funding rates, warrants close monitoring to identify emerging trends between bearish phases and corrections. Given the fast-paced market changes, investors must stay prepared to act swiftly on new information to manage their positions effectively.

The post Analyst Insight: Solana, Hedera, Ethena Hit Oversold Levels appeared first on Cryptotale.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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