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Recently, the crypto assets market has shown a complex situation, especially the trends of Shiba Inu ( SHIB ) and Solana ( SOL ) are noteworthy.
The SHIB price is currently fluctuating around $0.0000134, indicating market indecision. After the upward trend earlier this month, SHIB attempted to break through $0.000015 but faced resistance at the 200-day moving average, leading to a short-term pullback. Currently, SHIB is trying to hold above the 100-day moving average, which provides some support. However, the decline in trading volume suggests a lack of buyer confidence, and momentum has clearly weakened. The Relative Strength Index (RSI) is hovering between 48 and 50, and has not yet provided a clear trend signal.
Analysts believe that if the bulls cannot break through the resistance level of $0.00001449, SHIB may dip to $0.00001267, and could even test the psychological support level of $0.000012. This would negate the upward attempt in July. Currently, SHIB is caught between the horizontal support/resistance zone and the major moving averages, reflecting the uncertainty in the market. Investors seem to be waiting for a catalyst to break the deadlock, whether it comes from macroeconomic or on-chain factors.
At the same time, Solana ( SOL ) is showing positive momentum. The SOL price has broken through several resistance zones and is moving towards the important psychological mark of $200. This trend has injected some optimism into the market, indicating that certain crypto assets still have upside potential.
Overall, the crypto assets market is at a critical moment. The trend of SHIB reflects the cautious sentiment in the market, while the performance of SOL brings some hope to investors. In this environment filled with uncertainty, investors need to remain vigilant and closely monitor market movements and potential breakout points.