Amid the ongoing crypto market correction, Chainlink, Solana, and Cardano may be on the verge of major breakdowns.
The crypto market has entered a deep correction, with losses spreading across most major assets. Over the past 24 hours, traders have lost $362 million in long positions, compared with $55 million in short positions. This shows that bullish traders have taken most of the losses during the latest market decline.
Amid the sell-off, market analyst Ali Martinez has mentioned three crypto assets that could face further losses based on their current chart setups. Chainlink (LINK), Cardano (ADA), and Solana (SOL) are all showing signs of weakness, with each asset facing a key technical level that could determine its next move.
Chainlink Breaks Below Head-and-Shoulders Neckline
Chainlink appears to face the biggest downside risk among the three assets. Its four-hour chart shows a head-and-shoulders pattern, and LINK has now fallen below the pattern’s neckline.
The left shoulder formed after Chainlink climbed from $13.49 on Sept. 25 to $14.48 by Sept. 26. The price then fell back to $13.50 by Sept. 28. The head formed as LINK recovered from $13.50 to a local high of $15.76 before falling to $13.30 on Oct. 2, 2026.
The right shoulder formed when Chainlink recovered to $14.30 before falling again to $13.30. LINK now trades at $13.39, below the pattern’s $13.50 neckline. If the price stays below $13.56, the structure points to $12.39. A further decline could then bring $11.98 into focus as the next level to watch.
Cardano Faces Rejection at Channel Top
Cardano is also showing signs of weakness after facing rejection at the top of an ascending channel on its daily chart.
The ascending channel started forming in June 2026, when ADA traded between lows of $1.38 and highs of $1.78. The structure continued into October, with prices eventually moving above $0.27. ADA then climbed above $0.28 by Oct. 6 as buyers tried to push the price above the channel’s upper trendline.
However, Cardano failed to hold this move and faced a rejection at the upper trendline. The rejection also came as the broader crypto market moved lower. If the rejection continues to hold, ADA could fall toward the channel’s lower boundary near $0.21.
Solana Breaks Four-Hour Channel Support
Meanwhile, Solana has also lost an important support level on its four-hour chart. SOL moved into a parallel channel in late September, with the upper trendline at $124 and the lower trendline at $116.
Solana stayed inside the channel from late September into early October. The recent market decline, however, pushed SOL below the lower trendline at $116, ending the price movement within that range.
A four-hour close below $117 confirms the breakdown and puts $114 in focus. If SOL also loses $114, the next downside level could be $111.