This article discusses the current trends in the cryptocurrency market, specifically focusing on Shiba Inu, Solana, and Dogecoin.
Shiba Inu on Edge
Shiba Inu is at a critical level of $0.00001100, which poses a threat of further decline. A recent bounce from the local bottom occurred with low volume, questioning the strength of any short-term bullish attempts. The price is below key moving averages, and since June 2023, Shiba Inu has been showing a steady downward trend. If the current support is breached, significant declines may ensue, causing concern among investors.
Solana Showing Signs of Recovery
After bouncing from the $130 support level, Solana is showing signs of life. At $144, SOL is approaching a critical point signaling a potential "golden cross." If resistance levels in the $145-$149 range are broken, this may pave the way for further gains. However, the lack of trading volume may impede this development, as investors appear to be losing interest.
Dogecoin at a Breaking Point
Dogecoin is under pressure, nearing the $0.15 mark. Since early June, the asset has been on a steady downward trend, and resistance continues to thwart attempts to break upward. Indicators suggest that Dogecoin is likely to continue its decline. Breaching the $0.15 support could lead to a drop to the $0.13-$0.125 range.
Analysis shows that Shiba Inu, Solana, and Dogecoin are in varying states, from threatening to promising. Investors should be cautious of current support and resistance levels to understand potential future movements of these assets.
