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Solana (SOL) Critical, Here’s Why; Key Shiba Inu (SHIB) Support Survives, Is Hidden XRP Volume Pattern Forming?
A breakout frequently occurs after a period of declining trading activity and persistent defense of lower channel boundaries. In the context of Solana (SOL), it is crucial to recognize that any failure to hold the $14.50 level may trigger a deeper correction, which could lead to a significant drop in value. If SOL does break above this resistance, there is a possibility that we will see a move towards $17-$18.
Shiba Inu (SHIB) has shown remarkable resilience and managed to maintain support at around $0.00002280, which was previously seen as the key level of support. This strength suggests that bulls are not ready to give up yet, even if SHIB is currently under pressure.
As for XRP, there may be a hidden volume pattern forming in its price action. The asset has been trading within a descending channel since mid-November, but buying momentum could increase and lead to a breakout above the upper boundary of this channel. If successful, this would allow XRP to target $2.80 and potentially retest its previous high around $3.
Conversely, if support levels around $2.20 fail to hold, we may see more downside action with the next significant level of support sitting at $1.99.
Source: u.today
