Market
Shiba Inu (SHIB) Price Shows Mixed Signals After 19% Gain
Shiba Inu (SHIB) price continues to show high volatility amid mixed technical signals. With a 19.01% gain in the past seven days, SHIB maintains its position as the second-largest meme coin by market cap, trailing only Dogecoin (DOGE).
The coin’s technicals paint a complex picture, with RSI cooling off from overbought levels and decreasing whale accumulation suggesting potential short-term corrections. However, strong EMA indicators still leave room for significant upside potential, making SHIB’s next price move particularly crucial for traders.
SHIB RSI Is Down From Overbought
SHIB’s RSI (Relative Strength Index) decline from 85 to 51.8 indicates a significant cooling off in buying momentum. When RSI was at 85, it showed SHIB was heavily overbought, with buyers dominating the market.
The current RSI of 51.8 suggests a more balanced market, where buying and selling pressures have equalized following a period of traders’ profit-taking.
The historical RSI of nearly 90 during SHIB’s peak at $0.000033 represented an extreme overbought condition that was unsustainable. The current drop to 51.8 suggests a healthy consolidation phase rather than a trend reversal, as readings between 40-60 typically indicate stable market conditions.
While this cooling off might lead to a short-term price correction, it doesn’t necessarily signal the end of the uptrend. It allows for more sustainable price growth by preventing market exhaustion.
Whales Are Not Accumulating Shiba Inu
The declining number of SHIB whales indicates large holders are taking profits or reducing exposure during recent price increases.
Whales, who can significantly impact the market due to their large holdings, often set market trends that smaller investors follow. Their gradual exit suggests caution about SHIB’s current valuation levels.
The drop from 11,013 to 10,858 wallets holding over 1 billion SHIB represents a loss of 155 major holders in just one month. This distribution of tokens from large to smaller holders typically creates selling pressure and could signal a weakening bullish sentiment.
However, this redistribution also means SHIB ownership is becoming more decentralized, which can be healthy for long-term price stability despite short-term selling pressure.
SHIB Price Prediction: Is a 17% Correction Imminent?
Shiba Inu price falling below the shortest EMA line signals momentum loss in its recent bullish trend.
While longer-term EMAs remain bullish, the price action beneath the fastest-moving average suggests that short-term bearish pressure is building.
The price is now at a critical junction with significant price swings possible in either direction. A bearish scenario could drive SHIB price down to test $0.000026 and $0.000023 support levels, representing a 17.8% decline.
Conversely, if bulls regain control, SHIB price could retest its recent high of $0.000033 and potentially surge to $0.000040, offering a 42% upside from current levels.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
BNB has taken the spotlight with a powerful surge, breaking past the critical $724 resistance level and signaling the potential for more growth. This breakout has ignited bullish momentum, sparking speculation that the token could be gearing up for uncharted territory. With strong market sentiment and increasing trading activity, BNB appears poised to extend its rally, leaving many wondering how high it can climb in the days ahead.
This article aims to explore BNB’s recent breakout above the $724 level, delving into the key drivers behind its bullish strength. it seeks to assess whether the asset can sustain its upward trajectory and set new all-time highs by analyzing technical indicators, market sentiment, and potential resistance zones
BNB Breaks $724: A Key Milestone For The Bulls
On the 4-hour chart, BNB is positioned above the 100-day Simple Moving Average (SMA), a key indicator of its current bullish trajectory. Significantly, this alignment highlights the token’s underlying strength and suggests that positive sentiment is driving its momentum. The steady upward movement reflects growing optimism among traders, with BNB now aiming to create new highs.
An examination of the 4-hour Relative Strength Index (RSI) reveals a notable climb, with the indicator reaching the 78% threshold after rebounding from a recent low of 46%. The sharp increase underscores a strong surge in bullish momentum, as intensified buying pressure has driven the RSI into overbought territory, thereby signaling a significant change in market sentiment.
Also, the daily chart further emphasizes BNB’s strong upward momentum, marked by the formation of bullish candlesticks as the price climbs above $724, indicating the possibility of continued gains and an extension of the rally. Its position above the SMA reinforces the positive trend, demonstrating sustained strength and market confidence, setting the stage for a continued rally.
Lastly, the daily chart’s RSI recently reached 76%, indicating that BNB has entered overbought territory. This suggests a strong optimistic sentiment as substantial buying pressure drives prices higher. While this level points to the potential for more upside, it also signals that the asset may be overheating.
Can The Bulls Sustain The Momentum Beyond $724?
BNB has surged past the crucial $724 level, fueling a strong bullish movement. The critical question is whether the bulls can maintain this upward trajectory and bolster its value. If the buying pressure remains strong, the asset could be on track to reach new highs, with $800 emerging as the next key target.
However, if the cryptocurrency fails to maintain its upbeat momentum, it could begin to decline toward the $724 level. A breach below this support may spark additional downside movement, possibly leading the price to test other support zones.
Toncoin (TON) price has surged 45.45% over the last 30 days. The RSI remains near overbought territory, and recent outflows from exchanges highlight reduced selling pressure, suggesting growing confidence among holders.
EMA lines further reinforce the bullish trend, with the price staying well above short-term averages. If TON maintains its upward trajectory, it could break the $7.198 resistance and aim for $8 in December, but a reversal might test support levels at $6.6 and $5.6.
TON RSI Is Still Close to 70
TON RSI recently almost touched the overbought threshold of 70 before retreating to its current level of 63. This pullback suggests that buying momentum has slightly weakened but remains relatively strong, as the RSI is still in bullish territory.
The current reading reflects a market where buyers maintain a slight edge, though it’s unclear if the momentum is enough to push prices significantly higher without further buying pressure.
The RSI (Relative Strength Index) measures the speed and magnitude of price movements, with values above 70 signaling overbought conditions and below 30 indicating oversold levels. TON’s RSI at 63 suggests it is still in a favorable position for potential upside.
If it rises back above 70, as it did at the end of November, TON price could regain momentum and test levels above $7.2, signaling another bullish breakout.
Toncoin Supply on Exchanges Dropped In The Last 3 Days
TON’s Supply on Exchanges has decreased to 1.68 million, down from 1.75 million on December 1. This decline indicates that holders have withdrawn approximately 800,000 TON from exchanges over the past three days.
Such a significant outflow suggests reduced selling pressure and a potential shift toward long-term holding or staking.
Supply on exchanges reflects the amount of a token readily available for trading. A high supply is often seen as bearish, as it implies users might be preparing to sell.
Conversely, a decline in exchange supply, like the current trend for TON, is typically bullish, as it signals accumulation and confidence in the coin’s future performance. If this trend continues, it could support upward price movement as selling liquidity diminishes.
TON Price Prediction: Can It Reach $8 In December?
TON EMA lines remain bullish, with short-term lines positioned above long-term ones and the price trading well above the short-term averages.
This alignment indicates strong upward momentum, reinforcing the current bullish trend. As long as the price stays above these lines, the trend is likely to persist.
If TON sustains its uptrend and breaks the $7.198 resistance, it could extend its rally and potentially test $8 in December, a level not seen since June 2024.
Conversely, if the uptrend reverses and a downtrend emerges, TON price may first test the $6.6 support, with a deeper correction possibly pushing it down to $5.6.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Solana (SOL) price is currently 12% below its all-time high, which was reached on November 22. Despite this recent pullback, SOL remains one of the year’s top performers, boasting an impressive 275.85% gain year-to-date.
Recent technical indicators, including the BBTrend, DMI, and EMA lines, suggest the market may be entering a consolidation phase. This could set the stage for SOL to test key support and resistance levels as it seeks its next major move.
SOL BBTrend Is Negative, But Far from Its Peak
SOL’s BBTrend is currently at -1.43, recovering from its peak negative level of -8.34 on November 28. Although it has remained negative since November 27, this less extreme reading suggests SOL may be entering a consolidation phase.
SOL price could now stabilize within a narrower range as the bearish pressure appears to be easing.
BBTrend measures price momentum relative to Bollinger Bands, with negative values indicating downward pressure and positive values signaling upward trends.
Solana current BBTrend level, while still negative, is far less bearish than its previous lows. This may reflect a transition phase, where the market is pausing to decide its next major move.
Solana Trend Isn’t Strong
SOL’s DMI chart indicates that its ADX has dropped to 20.6, down from nearly 30 just a day ago. This decline suggests weakening trend strength, potentially signaling reduced market momentum.
Meanwhile, the D+ is at 19.3 and the D- is slightly higher at 22.9, implying a slight bearish advantage as sellers maintain control over buyers.
The ADX (Average Directional Index) measures trend strength, regardless of direction. Values above 25 indicate a strong trend, while values below suggest a weak or consolidating market.
With D+ representing buying pressure and D- selling pressure, SOL current DMI readings highlight a market still leaning bearish but with less conviction, suggesting potential for consolidation or a shift in momentum.
SOL Price Prediction: A Consolidation Before Trying New All-Time High?
Solana EMA lines recently displayed a bearish signal as a short-term line crossed below a long-term line. However, the narrow gap between the lines suggests consolidation rather than a strong downtrend.
This could indicate a pause in market direction as traders await further cues.
If a downtrend develops, SOL price might test support at $221, with a further drop to $204 if this level fails. On the other hand, a recovery could push Solana toward a key resistance at $248.
Breaking this level could open the path to retesting its previous all-time high near $264.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
XRP Price Reaches Legendary 4.236 Fibonacci Level Once Again, Is A Rally To $9 Possible From Here?
BNB Price Surge: Upbeat Momentum Builds After $724 Breakout
Donald Trump Picks Paul Atkins As Next US SEC Chair
Toncoin (TON) Price Climbs Higher as Exchange Supply Declines
Solana (SOL) Price Suggests a Pause Before the Next Rally
Ethereum Price Is About To Confirm A Golden Cross On The Daily Time Frame, Here’s What Happened Last Time
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
2.52 Million Altcoins Are Ruining Crypto’s Future
Animoca Brands Valuation Tanks 75% In Two Years, Here’s Why
Crypto exchange BingX hacked for $43 million
Are The Big Players Losing Interest?
Hong Kong’s Securities Association Tips Authorities On Crypto Self-Regulation
Coinbase cbBTC Set to go Live on Solana
-
Market16 hours agoHedera (HBAR) Price Surges 721%, Surpassing $13B Market Cap
-
Altcoin12 hours agoPepe Coin Whales Accumulation Signals 7x Gains For PEPE Looms
-
Market12 hours agoWill Cardano Whales Continue to Sell Ahead of Token Unlock?
-
Market19 hours agoNYSE and Grayscale File Solana ETF for Coming Altcoin Season
-
Market18 hours agoXRP Meme Coins Skyrocket as Ripple Gains 80% in a Week
-
Market11 hours agoXRP Price Swings Wildly: Can It Resume Its Rally?
-
Altcoin11 hours agoETH Price to $4,000 Imminent as Ethereum ETF Inflows Surge Again
-
Market23 hours agoCrypto price predictions: HBAR, iDEGEN, Bitcoin
