NEWSLETTER
Solana began the week trading near a two-month high as momentum remained marginally higher, despite market consolidation. The global cryptocurrency market capitalization is currently trading 0.98% higher at the time of writing. Shiba inu also traded near recent highs, despite dips on Monday.
Solana (SUN)
Solana (SOL) held near a two-month high to start the week, despite crypto markets beginning to consolidate recent gains.
The SOL/USD hit an intraday high of $24.75 on Monday, less than a day after falling to a low of $22.68.
This move means that the token remains close to this weekend’s high of $25.03, which was the strongest point for SOL since Nov. 8.
On the chart, it appears that sentiment in the sun is still somewhat bullish, which comes as the 14-day RSI continues to track above a support point at 80.00.
At time of writing, the index sits at 80.18, with Solana trading at the $23.42 price point.
If the index stays around 80.00 in the next few days, the SOL is likely to move back towards $25.00.
Shiba Inu (SHIB)
Like SOL, shiba inu (SHIB) bypassed today’s price consolidation, holding recent highs in the process.
After a low of $0.00001009 on Sunday, SHIB/USD rose to a high of $0.00001099 today.
Monday’s action has seen the meme coin continue to trade near the two-month high of $0.00001111, hit last Friday.
Like many cryptocurrencies last week, shiba inu prices have been mostly overbought in recent days, with the RSI dipping from a ceiling at 80.00.
The index is currently at 73.00, with a floor at 70.00 marking a possible target for sellers.
However, the bulls appear to be rejecting this proposition on Monday, with some instead expecting a rally 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 on it in the comments.
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