Solana
Pepe (PEPE) Huge 200% Rally Continues, Shiba Inu (SHIB) Poised to Break Fundamental Resistance, Solana (SOL) Succeeded
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As TradingView data suggests, PEPE has achieved a massive growth of 21% in recent days. The asset has reached the $0.00001 threshold and is now aiming to break the all-time high again. The key factors to watch will be: moving average support, ascending trendline and momentum indicators like the RSI.
The recent rise in PEPE is supported by a strong ascending trendline, showing steady upward movement. This trendline constitutes a strong support level, helping PEPE stay on its upward trajectory. The 50, 100 and 200 EMAs are also moving higher, providing further support and reinforcing the positive trend.
PEPE/USDT chart by TradingView
Another important indicator is the RSI. Right now, the RSI is close to the overbought zone, which means PEPE could experience a few short-term pauses before rising again. As long as the RSI remains above the midline, the uptrend should continue.
Volume is also crucial. The recent increase in volume shows strong buyer interest, which is key to maintaining the uptrend. Higher volumes generally mean more traders are active and confident. For PEPE to reach its all-time high, it must maintain these high trading volumes.
The revitalized Shiba Inu
Shiba Inu faced a fundamental resistance level reflected in the 50 EMA formation. The asset is in active combat mode and the most recent price action suggests that buyers want to leave it behind. With some room to grow, SHIB needs an extra boost.
The increase in SHIB volume is a positive factor for the price of the asset, but it is not a guarantee of an upcoming price increase. The increase in trading volume may indicate a rise in buying interest among investors, but the general market recovery remains a key factor for the beloved memecoin.
If SHIB manages to break through, it could signal the start of a broader bullish move.
This is an important time for Shiba Inu: fighting to break through the resistance at the 50 EMA. The path forward holds growth potential, but requires more purchasing power and higher trading volumes to confirm an uptrend. In the event of a breakout, it could signal the start of a longer upward move.
Solana breaks through
Solana finally broke through a key resistance level, gaining a foothold above the 50 EMA. As TradingView data suggests, Solana reached the $160 price threshold and even surpassed it. For now, price needs some bullish conviction to stay afloat and move forward.
Solana faces initial resistance around $175, a level that previously provided strong resistance. If Solana manages to break this milestone, the next target could be $190, another historic resistance level. On the downside, support is likely around $145, which has already served as a price reversal level. If this holds, it could provide a solid basis for further upward movement.
Volume is another important factor. The recent increase in trading volume indicates strong buying interest, necessary to maintain the current uptrend. Higher volumes generally mean greater market participation and greater confidence among traders. For Solana to continue its upward movement, it must maintain or even increase this volume.
Additionally, the Relative Strength Index is hovering around the midline, suggesting there is still room for growth before reaching overbought territory. This is a positive sign for further bullish momentum.
Solana’s recent breakout above the 50 EMA and $160 mark is a strong signal of potential growth. With increasing trading volume and positive RSI indicators, the outlook appears bullish. The $175 and $190 resistance levels are worth watching. Volume is also crucial, we need it to ensure the uptrend continues. If Solana can maintain this momentum, it could be on its way to even higher price levels.
About the Author
Arman Shirinian
Arman Shirinyan is a trader, crypto enthusiast and SMM expert with over four years of experience.
Arman strongly believes that cryptocurrencies and blockchain will be of constant utility in the future. Currently, it focuses on news, articles with in-depth analysis of crypto projects and technical analysis of cryptocurrency trading pairs.