Solana
Finally Shiba Inu (SHIB) about to break through, Solana (SOL) will get squeezed, is Bitcoin (BTC) out of the downtrend? By U.Today
U.Today – has recently shown promising signs of breaking out of a descending triangle. Finally, we might see the trace we’ve been waiting for.
SHIB managed to break out of a descending triangle pattern. Price recently closed above the upper trendline of this pattern, suggesting a possible bullish breakout. This decision is supported by the increase in purchasing volume.
The 50-day moving average is currently above the 100-day moving average, indicating a medium-term bullish crossover. However, the price is still below both moving averages, suggesting that SHIB needs to maintain its bullish momentum to confirm a long-term uptrend.
The Relative Strength Index (RSI) at the bottom of the chart is around 45, which is in the neutral zone.
The main support levels to watch are around 0.000021 and 0.00001817. If SHIB manages to maintain its position above these levels, it could provide a solid basis for future gains.
On the resistance side, the immediate resistance level is around 0.000024. A successful break above this level could open the door to a test of the next significant resistance at 0.000026. If SHIB manages to break through these resistance levels with significant volume, it could lead to a more sustained rally.
to be squeezed
SOL is trading around $145, with the 50-day EMA offering resistance around $157 and the 100-day EMA offering support at around $140. This tightening means a narrowing of the trading range, which usually leads to a breakout once the price moves decisively above or below these levels.
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The RSI is currently at 48, indicating a neutral position. This means that SOL is neither overbought nor oversold, giving it room to move in either direction. The volume bars show a decline in trading activity, which is common during consolidation phases. Once a breakout occurs, we can expect an increase in trading volume, confirming the direction of the movement.
The main support levels to watch are at $140 and $116. The latter is particularly important as it coincides with a previous low and the 200-day EMA, suggesting strong buying interest at this level. If SOL falls below $140, it could test the $116 support, which could lead to further declines if this level does not hold.
On the resistance side, the immediate level to watch is $157, marked by the 50-day EMA. A successful break above this level could lead to a test of the $170 region, followed by a potential rally towards the psychological $200 level. For SOL to establish an uptrend, it must break and hold above these resistance levels with strong volume support.
gain more strength
BTC has consolidated around this resistance level after a series of lower highs and lower lows. Price is compressed between the 50-day EMA (blue line) and the 100-day EMA (orange line), suggesting increasing pressure for a significant move.
A break above the $62,000 resistance level could indicate a bullish reversal, while a failure could lead to a further correction within the existing descending channel.
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The RSI is around 44.98, which is in the neutral zone, suggesting that there is room for movement in either direction. Additionally, volume has declined, which often precedes a major breakout or breakdown. If the price can break above the $62,000 level with heavy volume, it would likely confirm the start of a new bullish phase.