Shiba Inu (SHIB) signals a possible turnaround, Solana (SOL) advances without a golden cross, while Bitcoin (BTC) targets $120,000. These diverse movements reignite optimism in the market. Delve into the analysis now.
After months of relentless decline and sluggish activity, Shiba Inu is finally showing encouraging signs of a potential trend reversal. Meanwhile, Solana continues its quiet ascent, while speculation around Bitcoin breaking the $120,000 mark fuels ongoing debates.
Behind these contrasting developments lies the hope for renewed energy across the entire crypto market. Let’s break down these key movements that could shape the weeks ahead.
After months of consolidation and low activity, Shiba Inu, one of the most popular memecoins, is finally showing signs of a bullish reversal. Currently, SHIB trades around $0.000012, initiating a modest yet encouraging recovery movement.
Here are the key elements for SHIB :
If SHIB manages to sustainably break through this zone, it could confirm a transition to a more durable recovery phase. However, current volumes remain low, raising concerns about a potential “dead cat bounce” among some traders.
Solana continues its upward trajectory without experiencing the famous golden cross – the signal often viewed as a powerful bullish momentum indicator.
Here are the key elements to watch for Solana :
Although Solana’s RSI remains moderate at 48, relatively stable volumes and discreet accumulation by “whales” support the hypothesis of continued upward momentum. A break above $180 would almost guarantee an extended bullish trend.
Key levels to watch for SOL :
Bitcoin returns to the center of speculation as it flirts with a pivotal resistance zone between $110,000 and $112,000, a technical threshold that could trigger a surge toward the famous psychological target of $120,000.
Consolidation or preparation for a bullish breakout ?
However, caution remains warranted: volume remains sluggish, far from past peaks. If it fails to break through $112,000, a return to the 100-day moving average, near $100,500, could unfold.
The market seems to be accumulating momentum, but the true bullish impulse is still awaited.
Caution remains essential, especially in a context where volumes have yet to confirm a widespread recovery. However, breaking through the mentioned resistance levels could quickly change the landscape.
Charles Ledoux is a Bitcoin and blockchain technology specialist. A graduate of the Crypto Academy, he has been a Bitcoin miner for over a year. He has written numerous masterclasses to educate newcomers to the industry and has authored over 2,000 articles on cryptocurrency. Now, he aims to share his passion for crypto through his articles for InvestX.
DISCLAIMER
This article is for informational purposes only and should not be considered as investment advice. Trading cryptocurrencies involves risks, and it is important not to invest more than you can afford to lose.
InvestX is not responsible for the quality of the products or services presented on this page and cannot be held liable, directly or indirectly, for any damage or loss caused by the use of any product or service featured in this article. Investments in crypto assets are inherently risky; readers should conduct their own research before taking any action and invest only within their financial means. This article does not constitute investment advice.
Risk Warning : Trading financial instruments and/or cryptocurrencies carries a high level of risk, including the possibility of losing all or part of your investment. It may not be suitable for all investors. Cryptocurrency prices are highly volatile and can be influenced by external factors such as financial, regulatory, or political events. Margin trading increases financial risks.
CFDs (Contracts for Difference) are complex instruments with a high risk of rapid capital loss due to leverage. Between 74% and 89% of retail investor accounts lose money when trading CFDs. You should assess whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Before engaging in financial or cryptocurrency trading, you must be fully informed about the associated risks and fees, carefully evaluate your investment objectives, level of experience, and risk tolerance, and seek professional advice if needed. InvestX.fr and the InvestX application may provide general market commentary, which does not constitute investment advice and should not be interpreted as such. Please consult an independent financial advisor for any investment-related questions. InvestX.fr disclaims any liability for errors, misinvestments, inaccuracies, or omissions and does not guarantee the accuracy or completeness of the information, texts, graphics, links, or other materials provided.
Some of the partners featured on this site may not be regulated in your country. It is your responsibility to verify the compliance of these services with local regulations before using them.
