The Altcoins Trending Today – SOL, BERA and SHADOW
The cryptocurrency market resumed its downward trend, reducing its market cap by $40 billion in the past 24 hours.
In the broader sell-off, some Altcoins stand out from the most searched assets of the past day. They include Solana ((sol), Berachain (Bera) and Shadow (Shadow).
Sol
Solana is a popular altcoin that has continuously extended its price decline. At press time, traded at the beginning of the year at $158.88, Sol Price It has dropped almost 10% in the past 24 hours.
Since June 2023, Sol’s decline has pushed its price toward a long-term upside down. This channel forms when the price of an asset always moves between two upwardly sloping parallel trend lines, which indicates a buying trend.
However, the breakthrough of SOL below this model confirms the increase in sales pressure and is likely to decline further if the assets fail to reclaim the channel. In this case, Altcoin’s price could drop to $136.62.
On the contrary, if the coin accumulation recovers, it may drive Sol is worth up to $220.58.
Berachaain (Bera)
Layer 1 (L1) Coins Bera is another asset trend today. As of this writing, it traded at $6.94, down 5% in the past 24 hours.
However, looking at its performance on the hourly chart shows that Bera’s demand has risen steadily, suggesting a potential rebound in the near term. For example, its relative strength index (RSI) has been broken above the centerline and is in an upward trend at press time.
This indicator measures the oversold market conditions of assets. When set this way, it marks a potential shift towards stronger buying pressure. This suggests that Bella buyers are gaining control, increasing the likelihood of a price rebound. In this case, Bella’s price could climb to $8.62 and reach its all-time high of $15.50.
On the other hand, if the decline continues to drop, the price of the coin may drop to $5.44.
Shadow (shadow)
Shadow makes Broader market trendsClimbed 34% over the past day. It traded for $160.27 at press time and is expected to extend those gains.
The rising balance of tokens on their hourly charts (Obv) supports this bullish outlook. This momentum indicator measures the accumulated buying and selling pressure of an asset by increasing the number in the number of rising days and subtracting the number of subtracted days.
When it climbs, it shows a strong interest in buying. This suggests that as demand increases, the price of shadows may continue to rise. If this happens, it may exceed the resistor at $162.44 to reach $210.55.
However, if a stall is needed, the shadow may lose its recent gains and drop to $132.68.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
