Biggest Movers: SHIB Hovers Higher, Despite Market Consolidation

Celý článek

Shiba inu was a notable gainer in today’s session, as the cryptocurrency rose for a second straight session. The global market cap is marginally higher at the time of writing, as prices mostly consolidated. Solana retreated from a near one-week high.

Shiba Inu (SHIB)

Shiba inu (SHIB) was in the green for a second session running, following a bounce from a recent point of support.

Price rallied to a peak of $0.000007757 earlier in the day, which comes after Tuesday’s low at $0.0000076.

As referenced earlier, the surge occurred after SHIB bears rejected a breakout below a price floor at the $0.00000735 mark.

This came as the 14-day relative strength index (RSI) also avoided a drop of its own, near support of 35.00.

At the time of writing, the index is tracking at 39.07, with the next point of resistance around 43.00.

Should bulls manage to push the price closer to the aforementioned zone, there is a good chance SHIB can climb over $0.00000800.

Solana (SOL)

After trading close to a one-week high earlier in the session, solana (SOL) retreated from this point, falling under $20.00 in the process.

SOL/USD moved to a bottom at $19.41 on Wednesday, a day after it hit an intraday high of $20.55.

The decline sees solana now on the cusp of colliding with a support point at the $19.00 mark, which has been the floor for the past two months.

Today’s downtrend came as the RSI was unable to break out of a resistance zone of 44.00, falling to a current reading of 38.97 instead.

In the event that momentum remains bearish in the coming days, a target of 36.00 could act as a level of stability.

Register your email here to get weekly price analysis updates sent to your inbox:

Will solana fall below $19.00 this week? Let us know your thoughts in the comments.