BTC Stalls at Multi-Year Resistance; SOL Candlestick Signals Potential Reversal

Bitcoin Stalls Below Key Resistance as Solana, Ether Show Warning Signs Ahead of Fed Decision

Cryptocurrency markets are treading cautiously as traders brace for Wednesday’s Federal Reserve interest rate decision, with Bitcoin, Solana, and Ether all struggling at critical technical levels.

Bitcoin Hits Familiar Wall
Bitcoin (BTC) remains capped below $116,000, a zone CoinDesk previously highlighted as a key hurdle. After bouncing from $107,200 last week, BTC has failed to sustain moves above this level for three consecutive sessions.

The resistance aligns with a trendline linking the 2017 and 2021 market peaks, which has consistently blocked upside attempts since July. A successful breakout could pave the way toward $120,000, but another rejection risks strengthening bearish momentum. Traders are watching the Ichimoku cloud closely, as BTC continues to hover within the range — a neutral signal until a clear break occurs.

Solana Prints Bearish Signal
Solana (SOL) flashed a technical warning over the weekend, forming a “shooting star” candlestick after spiking to $250 before retreating sharply. The pattern indicates waning buyer strength, confirmed Monday as prices slid to $230. Unless bulls can reclaim the $250 level, analysts warn the token could face deeper losses, particularly if the Fed adopts a more hawkish stance.

Ether’s Triangle Formation
Ether (ETH) has drifted sideways after reaching a record high near $5,000 last month. The token is now consolidating within a symmetrical triangle, a structure that reflects indecision and typically precedes sharp breakouts. For now, traders remain on hold, awaiting a decisive move in either direction.

Outlook
With crypto markets hesitating and equities riding record highs, Wednesday’s Fed outcome could set the tone. A dovish cut may give bulls the momentum needed to break resistance, while disappointment risks turning current caution into a broader selloff.

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