Last week, a general decline in crypto money markets was experienced due to global economic concerns. Among the prominent assets, solana (left) and XRP attracted the attention of investors with hard fluctuations. The oppression in the market negatively affected digital assets by combining the US’s customs tariffs and uncertainties in stocks. The NASDAQ 100 index has re -raised the correlation between technology shares and crypto currencies. Analysts stressed that the next two weeks can carry critical signals for both stocks and crypto money markets.
The reason for the decline and decline through the crypto money market
The wave of sales in the global financial markets was reflected in the crypto currency sector. Economic concerns have been replaced by the positive atmosphere that has been ongoing since the summit in March. Increased customs duties and inflation concerns of the USA for China have led investors to get away from risky assets. Bitcoin in this process $86,114.01 and Ethereum 
$2,138.94 While large crypto currencies such as depreciation, the decline in Altcoins became more pronounced.
The decline in technology stocks moved in parallel with the crypto money market. The fact that the Nasdaq 100 index remained below the 200-day average was interpreted as an indication that investors have switched to “risk-off” mode. Historical data indicate that deeper decreases may be experienced if the index remains at these levels for a certain period of time. Experts suggest that the data that can clarify the direction of the market, especially within the next 10 working days.
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Analysis of fluctuations in Solana and XRP
Solana (left) did not overcome the resistance level of $ 150 during the week. The preservation of $ 130 as a support line showed that there was a neutral trend in technical analysis. Investors say that the increase in market volume is needed to test the $ 160-170 band in the short term. On the other hand, the struggle of XRP above $ 0.50 drew attention.
XRP’s inability to rise above $ 0.55, the price movements remained limited when combined with the decline in trading volume. Technical indicators revealed that the purchasing power in XRP is weakened, but the support level of $ 0.47 was not broken. The high correlation of both crypto currencies with stocks increases the expectation that a possible recovery in Nasdaq may have a positive reflection on the crypto money market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
