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SOL, SHIB Remain Near Multi-Month Highs Despite Market Consolidation – Market Updates
Solana started the week trading near a two-month high as momentum remained slightly bullish despite market consolidation. The global cryptocurrency market cap is currently trading 0.98% higher at the time of writing. Shiba Inu was also trading near recent highs despite declines on Monday. Solana (SOL) Solana (SOL) remained near a two-month high earlier in the week even as crypto markets began consolidating recent gains. SOL/USD hit an intraday high of $24.75 on Monday, which came less than a day after falling to a low of $22.68. This movement means that...
SOL, SHIB Remain Near Multi-Month Highs Despite Market Consolidation – Market Updates
Solana started the week trading near a two-month high as momentum remained slightly bullish despite market consolidation. The global cryptocurrency market cap is currently trading 0.98% higher at the time of writing. Shiba Inu was also trading near recent highs despite declines on Monday.
Solana (SOL)
Solana (SOL) remained near a two-month high earlier in the week even as crypto markets began consolidating recent gains.
SOL/USD hit an intraday high of $24.75 on Monday, which came less than a day after falling to a low of $22.68.
This move means the token remains near this weekend's high of $25.03, which was the strongest point for SOL since November 8th.
From the chart, it appears that sentiment in Solana is still somewhat bullish, as the 14-day Relative Strength Index (RSI) continues to track above a support point at 80.00.
As of this writing, the index is at 80.18, with Solana trading at the price point of $23.42.
If the index stays around 80.00 in the coming days, it is likely that SOL could move back towards $25.00.
Shiba Inu (SHIB)
Like SOL, Shiba Inu (SHIB) has avoided today's price consolidation while holding recent highs.
After hitting a low of $0.00001009 on Sunday, SHIB/USD climbed to a high of $0.00001099 today.
Monday's action saw the meme coin continue to trade near the two-month high of $0.00001111 hit last Friday.
Like many cryptocurrencies over the past week, Shiba Inu prices have been overbought for much of the past few days, with the RSI falling from a ceiling of 80.00.
The index is currently hovering around 73.00, with a bottom at 70.00 a possible target for sellers.
However, bulls appear to be rejecting that suggestion on Monday, with some instead eyeing a rally back above $0.00001100.
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Could we see Shiba Inu hit a new two-month high this week? Let us know your thoughts in the comments.
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