Crypto Bulls Hesitate Ahead of Fed Decision as Bitcoin, Solana, and Ether Face Technical Tests

The latest moves across major cryptocurrencies highlight growing caution as markets await Wednesday’s pivotal Federal Reserve rate decision.

Bitcoin (BTC) has once again stalled below the well-flagged resistance zone near $116,000 — an area CoinDesk previously identified as a potential hurdle. Since rebounding from lows of $107,200 last week, BTC has repeatedly failed to break above this ceiling, echoing similar struggles seen in July and August.

That barrier coincides with a trendline connecting the 2017 and 2021 bull market peaks, a level that has capped upside attempts for months. With two failed breakouts already this summer, a third rejection could embolden bears and trigger a deeper pullback. On the other hand, analysts still expect BTC to grind higher into year-end, supported by an anticipated Fed rate cut.

For now, the Ichimoku cloud remains the key zone to watch. Bitcoin is trading inside the cloud, offering little directional clarity. A decisive move above or below could provide the first strong signal of where momentum is headed next.

Solana Forms Bearish Shooting Star
Solana’s (SOL) recent rally is also showing signs of fatigue. On Sunday, the token printed a classic “shooting star” candlestick after briefly touching $250, only to retreat sharply by the close. The pattern — a small body with a long upper wick after an extended rally — often signals a shift in momentum from buyers to sellers.

That warning was reinforced Monday as SOL slipped to $230, suggesting the potential for further downside unless bulls reclaim the $250 level. Market watchers caution that if the Fed strikes a hawkish tone this week, downside pressure could accelerate.

Ether Consolidates in Tightening Range
Ether (ETH), meanwhile, has settled into a narrowing trading range after setting a record high near $5,000 last month. The price action has formed a symmetrical triangle, reflecting market indecision as neither bulls nor bears take control.

Such patterns often precede sharp breakouts or breakdowns, leaving traders waiting for confirmation before committing to new positions.

With the Fed decision looming, all eyes remain on whether BTC can finally pierce its multi-year resistance or whether caution will turn into a broader retracement across the crypto market.