Cryptos to Watch: SOL, AVAX, MOVE Are Showing Promising Trading Setups

The crypto market is recovering after the DeepSeek AI-led global market rout, with Solana (SOL), Avalanche (AVAX), and Movemenet (MOVE) showing promising bullish setups.

Solana (SOL) Technical Analysis

SOL/USD Four-Hour Price Chart Analysis — Head-and-Shoulders Pattern Risks Further Declines

Solana’s (SOL) price action on the 4-hour chart appears to be forming a head-and-shoulders pattern, consisting of a left shoulder, head, and right shoulder, with the neckline sitting around the $224–$226 range, just above the 200-4H exponential moving average (200-4H EMA; the blue wave).

A confirmed breakdown below this neckline could accelerate selling pressure, potentially driving SOL toward the $200 support level by February, which aligns with the projected price target based on the pattern’s height.

Furthermore, the Relative Strength Index (RSI) at 41 suggests that momentum is leaning bearish but not yet oversold, leaving room for further declines.

The 50-period EMA (red line) at $241 is acting as a dynamic resistance, rejecting SOL’s recent price recovery attempts.

If buyers fail to reclaim this level, the bearish setup could play out more aggressively. However, if SOL holds above the 200-period EMA, it may invalidate the pattern, leading to a possible bounce toward the $241 level (or beyond).

SOL/USD Weekly Price Chart Analysis — Ascending Triangle Breakout Shows Signs of Weakening

Solana is testing the upper boundary of its ascending triangle pattern, but a decisive breakout remains elusive. The weekly chart shows that SOL has attempted to breach this resistance level twice, only to face selling pressure that keeps it above but closer to the consolidation range.

The triangle’s rising support trendline reflects consistent higher lows, suggesting strong buyer interest. However, failure to establish a confirmed breakout above the horizontal resistance raises concerns about potential downside risks.

A breakdown from this structure could see SOL retest the $190–$200 support range, where the rising trendline intersects.

The 50-week EMA at $167 remains a critical long-term support, while the RSI at 57 suggests that momentum is neutral, lacking the conviction needed for a parabolic move.

For bulls, a weekly close above $250 with strong volume would confirm the breakout, opening the door to the measured move target of $500. Without such confirmation, SOL’s price risks extended consolidation, or worse, a fake breakout that could trap long positions.

Avalanche (AVAX) Technical Analysis

AVAX/USD Four-Hour Price Chart — Key Levels to Watch in February

Avalanche is currently testing support at the 0% Fibonacci retracement level ($32.05) after breaking below short-term trendline support.

AVAX price must reclaim the $35.11 level (0.236 Fib) to regain short-term bullish momentum. The 50-period EMA ($32.84) is providing dynamic resistance, and a sustained move above it would shift focus toward $38.52 (0.5 Fib retracement).

Further resistance is seen at $40.05 (0.618 Fib) and $42.22 (0.786 Fib), which align with previous rejection points.

If Bulls can push AVAX past the $44.99 (1.0 Fib extension), it would confirm a full retracement of the prior downtrend and open the door for a potential rally toward $52.99 (1.618 Fib extension).

However, failure to reclaim these levels keeps AVAX at risk of continued downside.

AVAX/USD Weekly Price Chart Analysis — Rally Toward $100 Next?

Avalanche is currently navigating two competing technical structures: a descending triangle and a rising parallel channel.

Notably, as of Jan. 29, AVAX was testing the parallel channel’s lower trendline support. A successful bounce from this support could propel AVAX toward the descending triangle’s upper trendline, situated near $50–$55, a level that has historically acted as strong resistance.

A breakout above this descending trendline would invalidate the bearish triangle structure, shifting the focus toward the upper boundary of the ascending parallel channel, which aligns with the $100–$120 range.

However, failure to hold the current support could expose AVAX to further declines, potentially leading to a breakdown toward the $20–$15 zone, where the descending triangle’s base is located.

The 50-week EMA at $32 is currently providing some interim support, while the 200-week EMA at $30 remains a crucial long-term floor.

Movement (MOVE) Technical Analysis

MOVE/USD Four-Hour Price Chart Analysis — Key Levels to Watch in February

MOVE/USDT has broken above its 50-period EMA ($0.7327) and 200-period EMA ($0.7892) on the 4-hour timeframe.

The pair is currently testing the high-volume node on the Volume Profile Visible Range (VPVR) near $0.82–$0.83, a historically significant resistance area.

A successful breakout above this zone could open the door for a rally toward $0.90 (1.0 Fibonacci retracement) and $1.08 (1.618 Fib extension) in the coming sessions.

Conversely, failure to hold above the $0.80–$0.79 region, which aligns with the 200-period EMA and 0.618 Fib level, may trigger a retest of lower support levels at $0.76 (0.5 Fib) and $0.73 (0.382 Fib).

The RSI at 61 indicates moderately strong momentum, though a slight pullback is possible before further upside.

[Note: Movement token is fairly new to be analyzed on weekly chart patterns.]