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Pepe (PEPE) Enormous 200% Rally Continues, Shiba Inu (SHIB) About to Break Fundamental Resistance, Solana (SOL) Made It

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Fri, 17/05/2024 – 0:30

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Contents

  • Shiba Inu’s revitalized
  • Solana breaks through

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As TradingView’s data suggests, PEPE has secured a massive 21% growth in the last few days. The asset has reached the $0.00001 threshold and is now aiming towards breaking the all-time high once more. Key factors to watch will be: moving averages support, ascending trendline, and momentum indicators like RSI.

PEPE’s recent surge is supported by a strong upward trendline, showing consistent upward movement. This trendline has been a solid support level, helping PEPE stay on its bullish path. The 50, 100, and 200 EMAs are also moving up, providing extra support and reinforcing the positive trend.

PEPEUSDT
PEPE/USDT Chart by TradingView

Another important indicator is the RSI. Right now, the RSI is close to the overbought zone, which means PEPE might see some short-term pauses before moving up again. As long as the RSI stays above the middle line, the bullish trend should continue.

Volume is also crucial. The recent increase in volume shows strong buying interest, which is essential for keeping the bull run going. Higher volumes usually mean more traders are active and confident. For PEPE to break its all-time high, it needs to keep these high trading volumes.

Shiba Inu’s revitalized

Shiba Inu has faced a fundamental resistance level reflected in the 50 EMA formation. The asset is in active battle mode against it and the most recent price action suggests that buyers want to leave it behind. With some room for growth, SHIB needs one more push.

SHIB’s volume surge is a positive factor for the asset’s price, but it’s not a guarantee of an upcoming price rally. The surge in trading volume may indicate a surge of buying interest among investors, but the general market recovery remains a key factor for the beloved memecoin.

If SHIB successfully breaks through, it could signal the start of a more extended upward movement.  

It’s an important moment for Shiba Inu: fighting to break through the 50 EMA resistance. The path ahead holds potential for growth, but it requires more buying power and higher trading volumes to confirm a bullish trend. In case of a breakthrough, it could signal the start of a longer upward movement. 

Solana breaks through

Solana has finally broken through a key resistance level, gaining a foothold above the 50 EMA. As TradingView’s data suggests, Solana has reached the $160 price threshold and even moved past it. For now, the price needs some bullish conviction to stay afloat and push forward.

Solana faces first resistance around $175, a level that has previously acted as a strong resistance. If Solana can break through this, the next target could be $190, another historical resistance level. On the downside, support is likely around $145, which has previously acted as a price reversal level. If it holds, it could provide a solid foundation for further upward movement.

Volume is another important factor. The recent increase in trading volume indicates strong buying interest, which is necessary to sustain the current uptrend. Higher volumes generally mean more market participation and confidence among traders. For Solana to continue its upward movement, it needs to maintain or even increase this volume.

Additionally, the Relative Strength Index is hovering around the midline, suggesting there is still room for growth before hitting overbought territory. This is a positive sign for further upward momentum.

Solana’s recent break above the 50 EMA and the $160 mark is a strong signal of potential growth. With increased trading volume and positive RSI indicators, the outlook appears bullish.$175 and $190 resistance levels are ones to be watched. The volume is also crucial, we need it to ensure the uptrend continuation. If Solana can maintain this momentum, it could be on its way to even higher price levels.

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