Solana (SOL) is crucial for the following reasons: Key Shiba Inu (SHIB) support survives, is a hidden XRP volume pattern forming?

Watch live for the bull market!

As the price trend attempts to rebound from recent losses, Solana finds itself in a vulnerable position. The descending trend line on the chart indicates ongoing selling pressure, with buyers desperately trying to defend the 26 EMA, which is a critical support level. Solana has failed to break through the descending trend line around $240 and is currently trading at approximately $225, clearly indicating hesitation among market participants. Due to this resistance zone, investors are now on the brink of a collapse, putting SOL in a precarious situation where any significant move could determine the mid-term trend. Thus far, the 26 EMA has become a lifeline to prevent further collapse. Historically, price recoveries during correction phases have been supported at this level, and maintaining above it could lead to a pullback to the descending trend line at $240.

Breaking this level would pave the way for a move towards $260, a psychologically significant area that may attract bullish momentum. Conversely, falling below the 26 EMA (currently at $213) could lead to further declines. In this case, the next important support level is the 50 EMA at $193.

Next is the 100 EMA, located at $172. If these support levels are breached, the bearish trend will reverse, leading to more severe selling pressure. Compared to Solana's recent rebound, volume data shows a decrease in activity, indicating waning interest. Although the RSI neither indicates overbought nor oversold conditions, it hovers near neutral, allowing for a reversal or continuation of the current trend.

Shiba Inu maintains its position with the 26 EMA shown as a key support level, thus Shiba Inu holds its ground. The price has recently tested this level after a period of downward pressure but has recovered well, showing resilience. SHIB's current trading price is $0.00002817; its ability to stay above this critical level suggests a potential recovery in the short term. The key point for SHIB is the 26 EMA, which provides a stable foundation for the asset amidst recent fluctuations.