The cryptocurrency market continues to exhibit high volatility. Let's explore the current status of Solana, XRP, and Shiba Inu.
Solana Situation
The potential bullish signal for Solana, known as the 'golden cross', will be invalidated following the asset's failure to hold above key levels. Short-term moving averages failed to cross above long-term trends, reinforcing a bearish outlook on the chart. The current price of Solana hovers around $143, below critical moving averages, including 26, 50, 100, and 200-day EMAs. It is expected that if new volumes or macroeconomic factors do not emerge, the price may revisit support levels around $125.
XRP at a Critical Level
XRP is once again testing the 26-day exponential moving average, which may be a pivotal moment for the asset. While bulls try to regain momentum, the price may approach important resistance levels. However, trading volume remains low, which does not support the movement. If the price cannot hold above $2.30, a retest of support in the range of $2.10-$2.00 may occur.
Shiba Inu: Cautious Optimism
Shiba Inu has shown a slight recovery after dropping to $0.0000110, regaining the $0.0000120 area. However, the presence of a 'shooting star' pattern on the chart raises questions about the sustainability of this growth. Trading volumes remain relatively low, indicating a lack of strength for prolonged recovery. Resistance is at the 26 EMA, approximately $0.0000134.
The current state of the cryptocurrency market shows ambiguous signals. Solana struggles to maintain levels, XRP is at a dangerous pivot, and Shiba Inu creates cautious optimism. Traders should exercise caution amid instability.
