Shiba Inu Faces Critical Downturn: Ethereum (ETH) Poised to Reach $4,000? Potential Turnaround for Solana (SOL) Ahead

Shiba Inu Analysis

Shiba Inu is on the verge of losing some important ground for the price, and it may lead to some serious issues for the token. However, there are some support levels below the aforementioned support. Luckily, the volume is descending, which, in case of a dropping price, is a good sign for the asset.

  • Worrying trend in SHIB technical indicators.
  • Potential further decline if unable to hold position above support levels.
  • Bearish signal: Descending triangle pattern.

Bearish signals are also visible in the relative strength index, hovering near the oversold area at 44. Investors need to monitor the $0.00002310 support level closely.

Ethereum Analysis

Ethereum could be on the verge of hitting $4,000 as the price remains stable and does not drop below the bottom of the trading channel at around $3,700. A break through this barrier could lead to a more significant decline, with the next major support level at $0.00001940 (200 EMA).

  • Price holding above crucial $3,700 support level.
  • Stabilizing medium- to long-term trend.
  • Consolidation pattern forming near upper end of trading range.

Solana Analysis

Solana could be closer to a reversal than you may think. The price of the asset has secured a placement at around 26 EMA, which acts as a trendline support for now.

  • Bullish setup on the chart.
  • Strong support level at $163 (26-day moving average).
  • 50-day moving average beginning to turn upward.

Before confirming a long-term bullish reversal, Solana still has some ground to cover as seen by the downward trend of the 200- and 100-day moving averages.