Bitcoin, Ethereum, Solana and HYPE Sit At or Near Oversold Fib Support

Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Hyperliquid (HYPE) are all at or near Fibonacci retracement support, and each one is oversold or close to it on the RSI. To me, that combination sets up near-term bounce opportunities across the group. Crypto has been highly volatile around Thursday, November 12, 2026, and Bitcoin has extended a sharp weekly decline.

These charts are in the breakdown phase of my breakdown, retrace, fade read. When price breaks a long-term inclining trend line or parallel channel, it can get extended to the downside, and an overextended chart generally gets a technical bounce back toward the line it lost. To find where that bounce starts, I line up the RSI with a major Fib level, a major pivot, a gap fill or another trend line. That overlap isolates support, and it's the method I'm running on all four charts.

Bitcoin (BTC) is failing $74,911 support: where is the next floor?

Bitcoin, the largest cryptocurrency by market capitalization, is failing the $74,911 support area on my daily chart. That's a big deal for Bitcoin, and it increases probabilities for a push down to the next level of support.

Over the most recent sessions, Bitcoin came down, touched the 50% retrace and bounced. It's now pushing under that 50% level. The bottom of its inclining parallel channel has held price on three separate occasions, and with Bitcoin oversold in the near term, I anticipate the next test of it likely generates a bounce.

Bitcoin (BTC) has a bounce zone at $69,011 to $68,505, where the 0.618 Fib retrace comes in contact with the bottom of its inclining parallel channel. Should selling continue, that's an active area to start picking up Bitcoin for a pending bounce, and the first test on the way back up is the previous support at $74,911.

Ethereum (ETH) hits the 0.618 Fib near $2,000

Next up, Ethereum, which I'm reading on the weekly timeframe. The setup resembles Bitcoin's: ETH has traded mostly inside an inclining parallel channel over a long timeframe, and price is now dropping in a sharp, straight line toward the bottom of that channel.

The 0.618 Fib retrace is already getting hit. Unlike Bitcoin, that level doesn't line up with the bottom of the parallel, where the earlier consolidation formed. ETH is more oversold than Bitcoin, though, with the daily RSI breaching 30 at the time I filmed. The 0.618 also sits right near the whole round psychological number of $2,000. Those factors align for a bounce to develop, or at least for this area to be sticky, until a last quick flush tags the bottom of the parallel channel.

For anyone interested in buying Ethereum, the 0.618 near $2,000 is the place to start. I'd spread it out: some at the 0.618 and some at the bottom of the parallel. The 0.786 retrace is a secondary add area only if the selling extends.

Solana (SOL) wedge breakdown: the 0.786 at $73.98

Solana needs the zoomed-out daily view first, because several trend lines converge into a tight area: the top range of a wedge pattern, an almost megaphone pattern beneath it, and an inclining trend line from a long-term pivot. Solana is running into a lot of support.

The declining trend line at the top of the wedge tells the story. Price ran up to it, paused and broke above. It came back down, hit the line and bounced, then hit it again and consolidated into a bear flag. That flag broke down. Price fell to the next trend line, paused for several trading days, and the selling accelerated. Buyers showed up briefly at the 0.618, but the last three trading days dropped straight through it.

That puts my focus on the low pivot and the 0.786 retrace at $73.98. At 22.55, the RSI says SOL is way oversold near term, which gives two ways to approach it.

The aggressive approach looks at the pivots and shelves sitting above $73.98. They're minor support, but minor levels can still produce a turning point when a chart is this stretched.

The conservative route, and the cleaner setup, is to wait for the 0.786 at $73.98 to get hit and play the pending bounce from there. That bounce could take Solana to an X marks the spot resistance at $97.20, right next to the round $100 number. I anticipate a nice near-term bounce on the horizon for Solana.

Hyperliquid (HYPE) breakdown: a Fib and channel setup

HYPE is the native token of Hyperliquid, a decentralized perpetual futures trading platform, so there's a short price history to work with. For most of that history it has traded inside an inclining parallel channel. Price recently hit the bottom of that channel, hit it again three days in a row, and has since collapsed back down. It's now catching support on prior pivot highs, which are somewhat minor support, though pivots like these can turn major depending on where price is coming from.

Right on top of those levels of consolidation sits the 0.618 Fib retrace, and price is getting really close to it. HYPE is less stretched than Solana or Ethereum, with the RSI at 33.55, and is getting close to oversold. This is a breakdown from a long-term parallel, and the likely next step after a break like that is a move back up to retest the broken channel.

I read HYPE as a Fib and channel setup: a bounce off the 0.618 Fib retrace that could carry price up to the bottom of the broken parallel channel. On that trade, the bottom of the parallel is the exit, and from there I'd wait for a fade on the chart and look for another pattern and reentry level.

Levels That Matter

Bottom Line

All four charts are stretched to the downside and sitting on, or just above, Fib support, which raises the odds of technical bounces in the near term. Bitcoin is the biggest cryptocurrency and likely to attract the bigger investors, so I expect it to have better staying power than the altcoins. My preference is to treat altcoin bounces as tactical and keep Bitcoin as the stronger staying-power chart on this board.