Following a prolonged decline, Shiba Inu is starting to show signs of a possible reversal, amidst the general weakness in the meme coin market. Conversely, Solana continues its upward trend, despite the absence of key graphical signals.
Potential Reversal of Shiba Inu
As of press time, Shiba Inu (SHIB) is trading at around $0.0000113, displaying a slight yet noticeable local uptrend. The chart indicates that SHIB is consolidating above the critical support range of $0.0000095-$0.0000110, which has consistently absorbed selling pressure. The Relative Strength Index (RSI) has moved out of the oversold territory and is around 42, suggesting that bearish momentum is finally waning.
Steady Growth of Solana without a Golden Cross
Solana (SOL) continues its upward trend despite the absence of a golden cross, which is a common technical signal. Currently, SOL is trading at around $147, with support at the $140 level. The local price structure demonstrates a series of higher lows, indicating a potential for further growth.
Speculations Around Bitcoin
Bitcoin (BTC) is once again at the center of market speculation as it approaches a key resistance level in the $110,000-$112,000 range. Currently trading around $107,400, the lack of clear bullish or bearish signals underscores market uncertainty. The rally is primarily driven by momentum trading, while the volume remains relatively low, which may constrain further movement.
Shiba Inu shows potential signs of reversal, while Solana confirms its resilience against the overall market weakness. Bitcoin faces uncertainty, which will be shaped by volume dynamics and price levels.
