Analyst Flags Fresh Downside Risks for Three Altcoins

• LINK risks a move toward $12.39 after breaking below its head-and-shoulders neckline, with $11.98 next if selling continues.
• ADA faces a potential decline toward $0.21 after rejection at the upper boundary of its ascending channel.
• SOL needs to hold $117, as a confirmed breakdown could expose $114 and $111 as the next downside levels.

Ali Charts flags downside levels for Chainlink, Cardano and Solana as technical weakness spreads across three major altcoins. LINK faces a potential move toward $12.39, while ADA could fall toward $0.21 after rejecting an ascending channel. SOL also risks $114 and $111 if its four-hour breakdown below $117 holds on current trading setups.

LINK Breakdown Puts $12.39 in Focus

According to Ali Charts, Chainlink is breaking below the neckline of a head-and-shoulders pattern. The pattern appears on LINK's four-hour chart. The setup remains active while LINK stays below $13.56. 

https://twitter.com/alicharts/status/2107925742659293590?s=20

If that condition holds, the analyst watches $12.39 as the first downside target. Continued selling could then put $11.98 into focus. Cardano is also facing resistance after reaching the upper boundary of an ascending channel.

Ali Charts said ADA was rejected at that level on its daily chart. If the rejection holds, he expects price to move toward $0.21.

Solana Confirms Four-Hour Channel Breakdown

Solana has broken below support on its four-hour chart, according to Ali Charts. A four-hour close below $117 would confirm the breakdown. That move would place $114 in focus. If SOL loses $114, the next level Ali Charts is watching is $111.

He said these levels could help track whether the pullbacks gain momentum. Meanwhile, the broader altcoin market has also weakened. The total crypto market cap excluding the top 10 assets stands at $235.68 billion. It fell 1.05%, or $2.51 billion, during the latest session.

Altcoin Market Falls Toward $230 Billion

The market opened at $238.19 billion, reached $238.31 billion, then fell to $234.61 billion. It previously climbed from roughly 205 billion-210 billion above $220 billion and $230 billion. However, the market later reached about $255 billion before forming lower highs. 

Source: TradingView

It also broke below the 245 billion-250 billion consolidation area. Immediate support is near $235 billion, followed by $230 billion and then $220 billion. On the upside, $240 billion marks the first recovery level.

Meanwhile, $250 billion remains a major resistance zone. RSI is at 33.08, below its 44.67 average and near the oversold threshold. The MACD line is at negative $2.13 billion, below the negative $1.01 billion signal line. Its histogram stands at negative $1.12 billion.