Bitcoin Breaks Two‑Day Slump

BNB, SOL, DOGE Bounce Back as Bitcoin Ends Two-Day Slump

📅 Date: Thursday, August 21, 2025 | 🕓 Time: 05:16 GMT

The cryptocurrency market regained momentum over the past 24 hours, snapping a two-day decline in Bitcoin. Bitcoin (BTC) rose 1.24% on Wednesday, helping several major altcoins move back into positive territory. Among the notable gainers were BNB, Solana (SOL), and Dogecoin (DOGE) — with BNB hitting a fresh all-time high, Solana approaching a key resistance level, and Dogecoin rebounding from an important moving average.

BNB Hits Record High, Faces Potential Correction

BNB, formerly known as Binance Coin, surged to a record $883 early Thursday before pulling back to $867 at press time. The 5.45% gain from Wednesday maintained bullish momentum, pushing the token toward the R1 pivot resistance at $881.

• A decisive close above this level could attract sidelined buyers, with $980 (R2 pivot) as the next upside target.
• The Relative Strength Index (RSI) stands at 65, just below overbought territory, hinting at potential profit-taking.
• The Moving Average Convergence Divergence (MACD) and its signal line are narrowly aligned, signaling reduced bullish momentum. A MACD drop below the signal line could trigger selling pressure.
• Support levels: 50-day EMA at $773 and the central pivot at $762.

Solana Approaches Crucial Resistance

Solana holds at $188, retaining Wednesday’s 6.65% gain. The bounce from above its 50-day EMA now targets the 61.8% Fibonacci retracement level at $191, based on the move from the January 19 high of $295 to the April 7 low of $95.

• A close above $191 could open the way to the $206 resistance, marked by the July 22 peak.
• RSI at 55 leans slightly bullish, while the flat MACD-signal line alignment reflects short-term uncertainty.
• Key support: 50-day EMA at $175 and the 50% Fibonacci retracement at $167.

Dogecoin Rebounds Ahead of Potential Golden Cross

Dogecoin, the largest meme coin with a market cap of $33.54 billion, jumped 5.85% Wednesday off the 100-day EMA at $0.2091, and trades at $0.2227 on Thursday.

• Immediate target is $0.2407 resistance, last tested on August 17. A break above could challenge the descending resistance trendline formed from the December 8 and January 18 highs.
• MACD trending downward toward the zero line signals fading bullish momentum, though RSI remains neutral at 50.
• The 100-day EMA is moving closer to crossing above the 200-day EMA — a “Golden Cross” that would signal a bullish trend shift.
• Support zone: Below $0.2091, losses could extend to $0.1909, the August 2 close.

Market Takeaway

The synchronized uptick in major altcoins following Bitcoin’s recovery suggests a short-term boost in trader confidence. However, the proximity to technical resistance levels and weakening momentum indicators leave the market at a crossroads between consolidation and the start of a fresh bullish wave.