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Shiba Inu (SHIB) Delivers Grim Volume Signal, Bitcoin (BTC): Is it Trying to Break $90,000? Solana (SOL): Days Before Recovery?
Solana’s price has flipped Ethereum again, reaching a new high as the decentralized exchange (DEX) volume hits an astonishing $3.99 billion. This surge in activity is seen as bullish for SOL, indicating that the momentum may be far from over.
However, if this zone is broken, the recovery attempt might be deemed invalid, and SOL could plummet towards the psychological $100 level. The larger technical structure still remains worrisome despite the local uptrend.
In a more bearish scenario, a death cross – a bearish formation that typically precedes further downside – may appear as the 50-day and 200-day EMAs converge. This would likely force SOL into a more severe correction phase, making it harder for bulls to maintain their upward momentum.
On the other hand, if SOL can continue its growth and regain important resistance levels, the risk of this death cross might be avoided. A persistent increase above $170 would be a clear indication that bulls are taking back control.
In related news, Bitcoin’s battle with the $90,000 level continues. Will it finally break through or succumb to pressure?
Stay tuned for more updates on Solana and the broader crypto market!
[Source: U.Today]
