What Experts Say About Solana’s Price, Shiba Inu’s Market Struggles, and Furrever Token’s Referral Code Jump
The post What Experts Say About Solana’s Price, Shiba Inu’s Market Struggles, and Furrever Token’s Referral Code Jump appeared on BitcoinEthereumNews.com.
As the crypto market faces challenges, experts discuss where Solana could go next, while Shiba Inu deals with market pressure. In this uncertain time, Furrever Token stands out by combining community involvement and rewards through its referral system. With cute cat themes and a 10% referral bonus, Furrever Token aims to attract crypto fans. See what makes these three tokens unique in today’s digital currency world. Solana (SOL) Analysis Amid Market Volatility Recent fluctuations in the price of Bitcoin (BTC) have sent shockwaves across the cryptocurrency market, impacting altcoins including Solana (SOL). Solana recently dipped to $127.95, marking its lowest point since early May 2024. Despite trading below the 50-day moving average, SOL remains above the 200-day simple moving average (SMA), indicating a battleground between bulls and bears. The current market structure shows SOL within a symmetrical triangle formation, typically signalling potential breakout scenarios in either direction. According to CoinGecko, SOL has experienced a 7.5% decline in the past 24 hours, hovering around $137. The resolution of the symmetrical triangle could influence SOL’s next move significantly, potentially leading to a 63% increase if it breaks upwards, targeting $292. Alternatively, strong support levels at $87 and $56 provide buffers against further downside. Recent data also suggests a surge in SOL’s trading volume by 153%, indicating heightened investor interest amid potential price appreciation. The network activity supports this, with active addresses reaching a record high of 41.65 million in May, underscoring growing engagement despite overall market challenges. As of June 18, 2024, Solana’s total open interest (OI) has seen fluctuations, signaling some capital outflow but maintaining robust support around $1.36 billion. Despite initial setbacks, SOL demonstrated resilience in post-market downturns, showcasing its ability to sustain a positive market structure. Shiba Inu (SHIB) Analysis: Potential for Recovery Amid Market Fluctuations Shiba Inu (SHIB)…
Filed under: News - @ June 22, 2024 11:08 am