Solana Chart Analysis
Solana, like many altcoins in the last few days, had to take heavy losses, but quickly recovered and hit our green 12H support zone perfectly. At the same time, we tested the monthly support P.
Currently, we are at $215.00, forming a possible Inverse Head&Shoulders chart pattern on the 4H chart. Also bullish is that we have reconfirmed the 200-SMA (last 200-average candles on the 4H chart/purple) as support.
Now it is important that we can form the right shoulder of our chart pattern a bit more and then with trading volume rising significantly, break through resistance to the upside and rise towards the R1 monthly resistance.
ShibaInu Chart Analysis
ShibaInu is also running out of steam in the last few days. After being in the middle of the hype two weeks ago and SHIBA forming one high after another, we are now rather in a calmer phase.
On the 4H chart we can see that we have broken through our golden pocket (0.618 – 0.65 Fib. retracement level) of the upward movement and have even gone towards the 0.786s.
We have found support here for now and now need to break the Golden-Pocket and the 200SMA on the 4H chart. For this we need much more volume that we can rise again towards the all-time high. If this should happen again after such a hype.