Bitcoin plummets after reaching $70,000, Solana remains stable, Shiba Inu struggles, caution advised.
From Investing.com: 2024-06-12 00:30:20
Bitcoin surged above $70,000 but quickly dropped below $69,000 due to increased selling pressure. Traders are concerned about holding support levels, with the price currently around $68,000. Bearish divergence on RSI suggests waning momentum, but long-term trend remains positive. Investors advised to proceed with caution for any signs of weakness.
Solana maintains stability at $150, aligned with the 100 EMA, showcasing resilience amid negative market sentiment. The asset’s bullish long-term trend is supported by holding above the 100 EMA, with potential for upward movement. Despite lower trading volume, Solana’s consistent interest hints at a possible future comeback.
Shiba Inu struggles to hold above the 100 EMA, indicating increased selling pressure bringing it closer to the $0.000019 support level. RSI in oversold territory signals possible continuation of selling pressure. Declining volume profile suggests challenges for significant recovery, with the 200 EMA support level likely to be tested soon.
Read more at Investing.com: Will Shiba inu (SHIB) Lose $0.00002? Bitcoin (BTC) Plummets After Hitting $70,000, Solana (SOL) Might Be Safest Asset on Market’s Top Right Now