Solana’s 1-hour technical analysis against USDT shows that the digital asset has been trading below the 200-day moving average, indicating a bearish trend. However, the asset has bounced back from its current support and is now on an upward trajectory. A potential breakout above the current resistance area and the 200-day MA could propel Solana’s price back to the $24 region. Alternatively, Solana could dip to its current support zone of $21.65.
Solana/USDT 1-hour Technical Analysis
The RSI of Solana currently stands at 57.35, suggesting that the asset is attracting moderate buying interest. If this interest continues, the RSI could reach the overbought level of 70, resulting in a consolidation period for Solana. This presents both opportunities and risks for traders, who must keep a close eye on Solana’s movements in the coming hours and days.
SHIB/USDT 1-hour Technical Analysis
Shiba Inu, the meme coin, is also facing bearish pressures as it is trading below its 200-day moving average, according to the 1-hour technical analysis of SHIB/USDT. While bears have attempted to seize control many times, Shiba Inu is struggling to break through its current resistance level and move above the 200-day moving average line.
Shiba Inu’s 1-hour support zone is located between $0.000012026 and $0.000011941, while its 1-hour resistance is between $0.000013406 and $0.000013311. A break above the resistance level could indicate a potential price increase above $0.000013961. However, if the coin fails to break through its resistance level, it may experience a decline to as low as $0.000011787 or even lower, which is a bearish signal for the year ahead.
Overall, Shiba Inu’s technical indicators suggest that the coin is currently in a bearish trend, similar to other cryptocurrencies in the market.