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Cardano (ADA) has started painting a bearish continuation pattern on its longer-timeframe charts, raising its likelihood of undergoing a major price crash by August.

ADA price in danger of a 60% plunge

Dubbed the "bear pennant," the pattern forms when the price consolidates inside a range defined by a falling trendline resistance and rising trendline support after a strong move downside. Additionally, the consolidation moves accompany a decrease in trading volumes.

Bear pennants typically resolve after the price breaks below their trendline support and, as a rule, could fall by as much as the height of the previous big downtrend, called a "flagpole," as illustrated in the chart below. 

As a result, a decisive breakdown below ADA's bear pennant structure could mean extended declines to the level at length equal to the flagpole. In other words, the target for Cardano's price will be $0.20, down over 60% from June 28's price.

In the meantime, ADA shows signs of consolidating inside the pennant's range with its imminent bias looking skewed toward bulls. This opens the door for ADA/USD to rebound from the pennant's rising trendline support near $0.46 to rally toward its falling trendline resistance around $0.60 by July.

Bitcoin (BTC) played wait-and-see with traders on June 28 as Wall Street opened to flat performance.

Bollinger eyes "logical place" for Bitcoin bottom

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $21,000 on Bitstamp, refusing to commit to a firm trend.

The pair nonetheless avoided fresh signs of weakness, leading Cointelegraph contributor Michaël van de Poppe to believe that an attack on important levels — notably the 200-week moving average near $22,400 — could be next. 

"In the past, Bitcoin has been a steal under its realized price, i.e., aggregate cost basis of all coins in supply. The realized price is currently sitting at around $22,500," popular trading account Game of Trades added.

While few expected a clear bullish trend to emerge, long-term perspectives also placed importance on current price levels.

Solana (SOL) continued its recovery trend on June 28 while inching closer to triggering a classic bullish reversal setup.

SOL's price gained 2.42%, reaching an intraday high of $39.40/ The SOL/USD pair is now up 50% as a part of a broader retracement move that began on June 14 after falling to lows of $26.

Solana price eyes 75% rally

The latest buying period in the Solana market has been painting what appears to be an "inverse head and shoulders pattern (IH&S)" pattern.

The bullish reversal setup appears when the price forms three troughs in a row below a common support trendline called "neckline." The middle trough, known as "head," is always deeper than the other two troughs, called shoulders.

An IH&S setup resolves after the price breaks above the neckline level. Also, as a rule of technical analysis, the pattern's profit target comes to be at length equal to the maximum distance between the head's lowest tip and the neckline.

Bitcoin (BTC) bear markets come in many shapes and sizes, but this one has given many reason to panic.

BTC has been described as facing "a bear of historic proportions" in 2022, but just one year ago, a similar feeling of doom swept crypto markets as Bitcoin saw a 50% drawdown in weeks.

Beyond price, however, 2022 on-chain data looks wildly different. Cointelegraph takes a look at three key metrics demonstrating how this Bitcoin bear market is not like the last.

Hash rate

Everyone remembers the Bitcoin miner exodus from China, which effectively banned the practice in one of its most prolific areas.

While the extent of the ban has since come under suspicion, the move at the time saw huge numbers of network participants relocate — mostly to the United States — in a matter of weeks. 

Troubled crypto lending firm Celsius is putting their best foot forward to recover operations alongside CEO Alex Mashinsky, who currently stays in the United States, the company has claimed.

A spokesperson for Celsius has denied rumors that the company's CEO tried to flee the U.S. last week amid the ongoing liquidity crisis of the Celsius Network.

The representative told Cointelegraph on Monday that the firm continues working on restoring liquidity, stating:

“All Celsius employees — including our CEO — are focused and hard at work in an effort to stabilize liquidity and operations. To that end, any reports that the Celsius CEO has attempted to leave the U.S. are false.”

Celsius’ statement came shortly after Mike Alfred, co-founder of the crypto analytics firm Digital Assets Data, took to Twitter on June 26 to claim that Mashinsky attempted to leave the country last week via Morristown Airport in New Jersey, the United States.